Fernando (Fern)  Frias

Fernando (Fern) Frias

Broker

RE/MAX Twin City Realty Inc., Brokerage*

Mobile:
519-654-8710
Office:
519-740-3690
Email Me
Fernando (Fern)  Frias

Fernando (Fern) Frias

Broker

RE/MAX Twin City Realty Inc., Brokerage*

Mobile:
519-654-8710
Office:
519-740-3690
Email Me

Pay Down Your Mortgage Faster

WAYS TO PAY DOWN YOUR MORTGAGE FASTER

TIP 1.  Increase the amount of your payment. One of the ways to pay off your mortgage faster is to increase the number of your regular payments by a small amount. Variable rate mortgages can pay as though they have a fixed rate.

TIP 2.  If you renew with a lower rate, keep the monthly payments the same. At the end of your mortgage term, when you renew or renegotiate your mortgage, you may be able to obtain a lower interest rate. Although you would have the option of reducing the number of your regular payments, you can take advantage of this situation to pay off your mortgage faster. Simply keeping the number of your payments the same will make you mortgage-free sooner.

TIP 3.  Choose an "Accelerated" option for your mortgage payment. You can spend approximately the same amount of money on your mortgage each month and still save money by choosing an accelerated option for making your payments. Most financial institutions offer a number of payment frequency options. Less frequent to more frequent: monthly, semi-monthly, bi-weekly, accelerated bi-weekly, weekly, and accelerated weekly Accelerated weekly and accelerated bi-weekly payments can save you thousands, or even tens of thousands in interest charges because you'll pay off your mortgage much faster using these options. The reason is that you make the equivalent of one extra monthly payment per year. The standard payment options are monthly, semi-monthly, bi-weekly and weekly. For these four payment options, there is no difference in the total amount you will pay over a year. This means that there are very little extra savings if you switch from a monthly payment option to one of the other standard payment options.

TIP 4.  Make lump sum-payments: Prepayments. A prepayment is a lump-sum payment that you make, in addition to your regular mortgage payments, before the end of your mortgage term. The prepayment reduces your outstanding balance and allows you to pay off your mortgage faster. The sooner you can make the prepayment, the less interest you will pay over the long term.

Article provided by Jeff Attwooll, Mortgage Broker, he can be reached at 519-620-1175 or 855-620-1175.

CLICK HERE: To read Jeff's complete article

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519-654-8710

  

519-740-3690

  

 

 

Let Me Open The Door To Your Next Home!

 

"My goal is to make you a happy, satisfied client - I reach my goal by ensuring you meet yours."

It gives me great pleasure to work in the real estate industry in Cambridge. I grew up in Cambridge and real estate has always interested me. I became a licensed REALTOR® in 1991 and have had the benefit of working with many clients with many different needs and interests.

Without exception, I provide the best service and advice possible knowing that home buying and selling can sometimes be a stressful and confusing process. With expertise, integrity, honesty, and a dedication to listening to clients' needs, buyers and sellers can be confident that I will make their experience a pleasant and successful one.

Successful real estate transactions and solid relationships with clients have resulted in many repeat customers and referrals. Your happiness and satisfaction are important to me and I look forward to meeting your real estate needs.

Professional Background

  • Over 30 years of full-time experience
  • Attained my Real Estate Brokers designation in 2008
  • Licensed to sell Real Estate in 1991
  • A graduate of Seneca College and George Brown College
  • Able to serve clients in English and Portuguese
  • I am a member in good standings with the following Associations:
  • CANADIAN REAL ESTATE ASSOCIATION
  • ONTARIO REAL ESTATE ASSOCIATION
  • CAMBRIDGE ASSOCIATION OF REALTOR® INC.
  • REAL ESTATE COUNCIL OF ONTARIO

Education
A graduate of the following schools:

  • Diploma - Glenview Park Secondary School, Cambridge, Ontario
  • Diploma - Property Management (Residential) - George Brown College of Applied Arts and Technology
  • Diploma - Real Property Administration - Seneca College of Applied Arts and Technology

I have furthered my real estate education with the following courses:

  • Real Property Law
  • Principles of Appraisals
  • Residential Financing
  • Property Management
  • Professional Real Estate Brokerage


Experience: 30 years

Awards: REMAX Hall of Fame - 2019

Languages Spoken: English, Portuguese