Benefits of paying your mortgage off early
POSTED IN ARTICLES ON THURSDAY, MAY 21, 2015
There is probably no bigger loan you'll ever take out than your mortgage. Having it paid off will give you a sense of security and freedom.
There are many reasons why you may consider paying your mortgage off sooner. Here are just a few:
- Pay less interest. Paying off your mortgage early will lower the amount of money you paid in interest over the life of your loan. Once your loan is paid off, you can put this money to better use.
- Invest more. After you are mortgage-free, use the money you were spending on your monthly house payment to make wise investments. Let your money work for you!
- Peace of mind. Find financial freedom once your mortgage is paid. For some people, you can't put a price on that kind of security.
With a Veridian 10 & Done Loan, you'll enjoy a low, fixed rate of 4.10% APR* for 10 years, and you may be able to pay off your mortgage early.
Interested in learning more? Connect with one of our lending experts for a consultation. Fill out the form below to be contacted within two business days.
⫧APR = Annual Percentage Rate. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments using your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. For a $25,000 10 & Done Loan amortized for 120 months at 4.09% APR, the monthly payment will be $254, not including taxes or insurance. Loan must be in first lien position. Any advertised closing costs assume title guaranty and appraisal are not required. Additional costs may apply. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval. See Veridian for details.