Mortgage Basics 101 – 15yr vs. 30yr (Part III of III)

A 15 year loan is great because you own the home outrighr in 15 years. Qualifying for one won’t be as easy and what if that larger payment becomes diificult to keep up with? Solution – take the 30 year loan and use an online calculator to see how much extra you need to pay each month to oay off your loan in 15 years! The great thing about doing it this way is that if you find you that you need to skip a month or two or even altogether, you are not penalized at all. You simply go back to making the payment that was calculated for your 30 year loan.    This set up puts you in the driver’s seat. In essence,  anyone can turn a 30 year loan into a 15 year loan without qualifying for one. Next Blog 1-22-13.

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Charles Sant’Angelo is a broker of 20 years with offices in the same Beverly Hills location. He has represented residential & commercial buyers & sellers in LA, Orange, Riverside & San Bernadino counties and as far away as Costa Rica. Whether you are a local or global 1st time buyer , a seasoned home buyer/seller or an investor, you will find that his professionalism & his ‘Customer First’ approach is the cornerstone to how he conducts business. Please visit our “About Us” page for more information or contact Charles direct at chas90210@gmail.com
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