Your Mortgage
15, 30 & 40 Year Loans

Quintin Kaemmerling | 281.797.4039 |
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Are 40-year mortgages a good idea?
Smaller monthly payments are the primary advantage of adding 10 years to the traditional 30-year mortgage, but real estate experts say the shorter-term loan usually is more beneficial for the home buyer. The drawback becomes apparent simply by calculating the cost of additional interest payments, which can total thousands for a few dollars difference inMortgage the amount of the mortgage payments.

What about splitting my mortgage in
two and paying bi-weekly?

Some people set on paying off their home loan early and reducing interest charges opt for a biweekly mortgage. Monthly payments are divided in half, payable every two weeks. Because there are 52 weeks in a year, the program results in 26 half-payments, or the equivalent of 13 monthly payments per year instead of 12. Using the biweekly payment system, a homeowner with a $70,000, 30-year biweekly mortgage at 10 percent interest could save $60,000 in interest and pay off the balance in less than 21 years.

What about a 15-year v. 30 year loan?
The difference in payments and overall savings between a 15-year fixed-rate loan and a 30-year fixed-rate loan depends on the interest rate and the loan amount. Using a $100,000 loan and 7.25% interest rate as an example, monthly payments on the 15-year note would be $912.86. Monthly payments on a $100,000 loan at 7.25% fixed for 30 years would be $682.18. The 15-year note offers the opportunity to save considerable money over the life of the loan, since the period of amortization is half that of the 30-year note. This means that the total interest paid on a 15-year note as compared to a 30-year note is significantly less. However, calculating the overall savings of the 15-year note over the 30-year note depends on several individual circumstances, such as the borrower's changing income status.

[fname], As a real estate professional in Sugar Land, TX, I have in depth local knowledge and can provide you with the information you need on home buying, home selling, financing and owning real estate in Sugar Land, TX.  RE/MAX FINE PROPERTIES provides a wide range of real estate services and utilizes the most current technology, processes and systems to assist you with all of your home buying and home selling needs.

Whether you are new to the market or an experienced investor, I have the expertise, proven track record, and resources to help you achieve your real estate goals. I am dedicated to making your home buying or selling experience smooth and worry-free.

Do you know a friend, colleague, or family member who needs to buy or sell a home in the near future? Send me their contact information or simply forward this email to them.

Put my experience to work for you! Thank you for your consideration.


Quintin Kaemmerling, GRI | RE/MAX Fine Properties
How Can I Help You?
4500 Highway 6 South | Sugar Land, Texas 77478
Phone: 281.797.4039  | |
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