Mind-blowing isn’t it? 🤯👇

Yes, you read that chart correctly. Two things:

1️⃣ This person refinanced their mortgage, got a significantly reduced rate, kept the same mortgage payment (basically), and will end up saving over $83,000 on interest over the course of their mortgage term.

AND

2️⃣ They’re now on schedule to pay off their mortgage 6 years sooner. 👀

That’s incredible.

This is possible right now since rates have dropped over the last 6 months and many lenders are still going with 3 months interest charge for penalty (surprisingly!)

💥 So, it can save you TONS to refinance if you got your mortgage in the last couple of years and have a higher rate (over 5%). 💥

The breakdown:

➡️ Old mortgage: 6.19% on $500,000 balance with a $3255 monthly payment (25 year amortization) on 5 year fixed.

➡️ New mortgage: 4.34% on $509,000 (including the penalty) with a $3271 monthly payment (19 year amortization) on 3 year fixed.

They’re now on track to pay off their mortgage quicker and pay tens of thousands of dollars less in interest!

👋 Reach out to me about #refinancing. Maybe I can do the same for you.

Leanne Funston
The Place To Mortgage - Mortgage Alliance

📧 [email protected]
☎️ 250-320-5514
🖥 www.leannefunston.ca

Book a FREE Mortgage Consult 👇
📅 https://calendly.com/leannefunston

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