Your home’s goals for the New Year.
While you are setting your goals for personal fitness and finance, why not include your home in these goals.
Check out some of the homeowner’s goals that you will be glad you did:
- Extra Payment Goals: Make extra mortgage payments, even if it is just one. Extra mortgage payments will dramatically shorten the time your mortgage will take to be paid in full. Not to mention, the more payments you make in a shorter period of time the less you will end up paying in the long run!
- Second Mortgage Goals: Get rid of your second mortgage. It may be tough to get your second mortgage paid off faster but if you cut a few luxuries out, you may be able to pay off your second within the year. You will most definitely want to pay off your second mortgage if you have a variable rate.
- Refinance Goals: If your interest rate is high, consider refinancing. This will decrease your payment and lock you in at a lower fixed rate.
- Insurance Discount Goals: Find out what homeowner insurance discounts you qualify for. Major repairs or improvements you made to your home last year may get you a discount to lower your premium for this year.
- Credit Score Goals: Make your mortgage payments on time. This may sound obvious but a missed mortgage payment can have some majorly negative affects to your credit score. A high FICO score will allow you to borrow money at a lower interest rate and on better terms.