If you're buying a home in 2025 and like to save $$$, we wrote this for you!
Add a little bit of $ towards your mortgage payment every month, or once a year. Why? It can save you thousands in interest over the lifetime of your loan.
Got a work bonus? Put a portion of it towards your loan.
Got money back on your taxes? You already know what we're going to say...
These are the numbers we used in the example:
- $550k 30-year loan
- 5% down payment
- 6.2% interest rate
Google: "Freddie Mac extra payment calculator" to play with the numbers for yourself - it's addicting!
P.S. Before you choose a loan, ask your lender if there are any pre-payment penalties.
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