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Luminary Financial | Debt | Debt Resolution | Mortgage Freedom
Mortgage Freedom | Mortgage Acceleration
MORTGAGE ACCELERATION
The average loan term is 30 years. Yes, lower terms bring down the actual “average”, but the 30 year fixed rate is, by far, the most common mortgage product out there.
Even ARM loans are usually based on 30 year terms. The average length of time someone keeps their mortgage is a different story. For instance, life gets in the way and income is drastically reduced.
Your debt-to-income ratio, or DTI, plays a large role in whether you’re ready and able to qualify for a mortgage.
It’s the percentage of your income that goes toward paying your monthly debts, and it helps lenders decide how much to lend. Not looking forward to being in debt for the next 30 years?
Call us to learn more about our award winning software to payoff your mortgage in 5-7 years! Sounds to good to be true but this software has proven it's worth several times over in numerous mortgage scenarios.
Considering that a home is the biggest purchase in a person's life, why not give yourself the best chances to ensure it is not a 30 or 40 year drain on your income.
The quicker the mortgage is paid off the quicker your home becomes a viable asset.