Build Equity in Your Home More Quickly

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Refinance Tips and other Mortgages topics.

How can I build equity more quickly in my home?

Build Equity in Your Home More Quickly

If you can afford higher monthly payments, you may want a refinance mortgage to build equity in your home quickly.

You can do this by refinancing for a mortgage with a shorter term. You may refinance a standard 30-year mortgage for a 15-year mortgage, for example. You still will pay toward your interest on the loan, with the rest going to the principal. But with the shorter loan term, you will have a higher payment. A larger portion of the monthly payment goes to the loan amount.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Mortgages Tip Site? Request a Tip Now!


Guru Spotlight
Ray Lokar