“Wealthy people understand interest. The poor pay interest.” Financial planners Dave Ramsey and Suzie Orman have made celebrities out of themselves by showing people the power of “interest” and giving people a plan to becoming debt-free. But in the end, you still have a mortgage hanging around that will, at best get paid off in 15 years on their plan.
What if you could free up an additional $600-$2,000/month without taking on a second job? How quickly do you think you would be able to pay off your debt? What if you applied an extra $900/mo. to a 30-yr or better yet, 15-year fixed rate mortgage? I’ll show you – you’d be debt-free and mortgage free in less than 10 years!
I Show My Home Buyers 4 Options When Buying A Home
(1) Buy a home, get a competitive mortgage, pay it off in 30-years.
(2) Buy a home, pay it off in 6 years and save $207,000.
(3) Buy 4 homes, pay them off in 30 years, collecting $4,500/mo in rent.
(4) Buy a home, pay it off in 12 years, create a $72,000 tax free annual retirement plan
Consider These Facts (30-yr loan @ 5.5%):
– The total cost of a $100,000 mortgage is $204,403
– The total cost of a $200,000 mortgage is $408,807
– The total cost of a $300,000 mortgage is $613,210
… I think that you get the picture. Is is fair to say, STOP focusing on Interest Rates and focus on INTEREST PAID!
The Banks Are Laughing At You…
Here’s Why –
(1) Americans refinance every 5.1 years (national average 2010)
(2) Americans sell every 7.4 years (national average 2010)
(3) Less than 10% of U.S. homes are paid off
Has your Realtor, Lender, CPA or Financial Adviser ever shared these facts or blueprints with you? Why not?
Let’s look at this – for illustration purposes, we are going to assume a $36,000 annual income, $350/mo. car payment, $100/mo. revolving credit card debt, and $850/mo. living expenses.
Purchase and Finance a $100,000 home at 5.5%, 30-yr Fixed
– Monthly Payment: $567.79
– Home Paid off In: 6 years
– Other Debt Paid Off: 10 months
– Interest $$ Saved: $84,847.88
– Effective Interest Rate: 1.215%
– Payments Invested for $426,984
Remaining 24 years at 5.5%:
All of this was accomplished with the SAME amount of money OTHER Realtors and Lenders would have you spend.
Yes, hiring the right Realtor and Mortgage Professional does make a difference. Do you think?
I show each one of my clients this strategy and how it works. My savings network is FREE. There is NO catch and again, NO cost if you are working with me as your mortgage professional. Contact me directly (contact info is below) or register for our next FREE Home Buyer Education Class to get started with your intro packet and Debt Analysis and Cash Flow Re-Positioning Worksheet.
Instantly, you will be sent links to hundreds of sites to begin downloading coupons and start saving money. Next, we will go over a detailed plan to begin expediting debt elimination and wealth creation!
I can be reached best via e-mail,
Dan Keller – Loan Officer/Mortgage Writer