How to Save 100K
It’s true — refinancing your home loan can lead to BIG savings! While every homeowner’s situation is different, there are often significant benefits to be gained by refinancing. For instance, how would you like to save tens, even hundreds of dollars in loan interest? The following illustration demonstrates just one example of how you could save by refinancing your mortgage.
What would you do with an extra $100k? Let DNJ Gateway Mortgage show you how to keep more money in your pocket and spend less on mortgage interest. Call today to discuss your refinancing options!
Save tens, even hundreds of thousands of dollars in interest
According to the National Association of Realtors, the median sales price for all existing American homes in 2010 was $173,100. Finance that for 30 years at 5.0%, and you’ll pay $161,426 in interest over the 30 years. Elect for a 15-year mortgage at 4.25% instead? You’ll pay only $61,295 in interest over the life of the loan — 63% less interest, a savings of over $100,000!
15- Vs 30-Year Mortgage Illustration
| 30-yr @ 5.0% | 15-yr @ 4.25% | |
| Loan Amount | $173,100 | $173,100 |
| Monthly Payment | $929.24 | $1302.19 |
| Total Interest | $161,426 | $61,295 |
| Savings | $0 | $100,131 |
Save BIG on your home loan with help from DNJ Gateway Mortgage!
If you’re considering refinancing your mortgage, talk to the professionals at DNJ. We offer helpful, friendly advice and no-obligation rate quotes to help you make an informed decision. Contact DNJ Gateway Mortgage today!
With offices in Raleigh, Greenville and Wilmington, DNJ helps homeowners and home buyers across North Carolina. We also offer mortgages in Delaware, Maryland, Virginia, Tennessee, South Carolina, Georgia and Florida.
