Save on Your Mortgage
Shopping for a mortgage loan? We'd be thrilled to talk about our mortgage offerings! Call us at 727-392-4227. Want to get started?
Apply Now.

Paying consistent extra payments toward the principal will yield big returns. People pay extra in several different ways. Making 1 extra payment one time a year is likely the simplest to arrange. If you can't afford to pay an extra whole payment all at once, you can split that large amount into 12 smaller payments and write a check for that additional amount monthly. Finally, you can commit to paying a half payment every two weeks. These options differ slightly in lowering the total interest paid and shortening payback length, but each will significantly shorten the length of your mortgage and lower the total interest you will pay over the duration of the loan.
Lump-sum Additional Payment
Some people just can't make any extra payments. Remember that virtually all mortgage contracts will allow you to make additional payments to your principal at any point during repayment. You can take advantage of this provision to pay extra on your principal when you get some extra money.
Here's an example: a few years after moving into your home, you receive a larger than expected tax refund,a very large legacy, or a non-taxable cash gift; , paying several thousand dollars into your home's principal will reduce the duration of your loan and save a huge amount on interest paid over the duration of the loan. For most loans, even a relatively modest amount, paid early enough in the loan period, could offer big savings in interest and in the length of the loan.
Twenty First Century Mortgage Services, Inc. can walk you through the mortgage process. Call us at 727-392-4227.