Your house is probably the largest personal investment you will ever ake. How you decide to pay for it can create unnecessary wealth transfers. Wealth transfers can occur no matter howyou decide to pay for your house. Understanding where the wealth transfers can occur in your mortgage can prevent unnecessary asset losses.
True or False?
- A large down payment will save you more money on your mortgage over time than a samall down payment?
- A 15-year mortgage will save more money over time than a 30-year mortgage?
- Making extra principal payments saves you money?
- The interest rate is the main factor in determining the cost of the mortgage?
- you are more secure having your house paid off than financed 100%?
Are you absolutely sure about your answers?
For generations, part of the American Dream has been to "Own Your Own Home." Most, if not all, of us were taught maintaining a mortgage was not a good idea and it should be paid off as soon as possible. But, we believe paying your house off early or maintaining a high equity in your home is a financial mistake. If purchasing a home is the largest personal investment you will ever make, then how you manage your mortgage or equity can be the largest financial mistake you can make.
We are Planned Assets, helping clients reduce or eliminate wealth transfers made unknowingly and unnecessarily. We feel it is much easier and safer to save money on transferred dollars than it is to increase your rate of return. Planned Assets can show you how to save money by not transferring dollars away unknowingly; redirecting those transfers back into you Accumulated Money and increase your asset growth without increasing your risk.
For a free consultation and information concerning your situation: PLANNED ASSETS - POINT...INVEST...WIN!
