Ask for a 10 year mortgage when purchasing or re-financing. You pay about $1 in interest for every $1 in principal on a 15 year note and $2 in interest for every $1 in principal on a 30 year note. The shorter your payment period, the lower the final cost.
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I got a variable rate open mortgage, which i watch very carefully. I put a little extra every payday on my mortgage. at the rate I'm going, Iwill pay off my home in 3/4 of the mortgage term. I have to watch the rates, though - if they rise, then i have to lock my mortgage into a rate.
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