Newsletter provided by Hein Moes, Mortgage Consultant, Invis Reprinted with permission
What is an interest-saving mortgage?
One of the problems in the mortgage industry is the way mortgages are advertised: usually by rate. If an online rate says 1.9%, chances are homebuyers are going to check it out.
What many don’t realize is that saving interest is what saves money over the long term, and that rate is only part of the story. On a $500,000 mortgage, a rate of 0.1% lower does not even equate to a savings of $500 a year. The right mortgage however can save you much more than that.
To read the complete article click here