Pamela Bailey
RE/MAX On the Move | Insight | Advantage | 603-770-0369 | [email protected]


Posted by Pamela Bailey on 2/20/2019

Paying off a mortgage early is a dream of many homeowners. By making larger payments on your home loan, you can cut years off of your loan term and save thousands of dollars in interest payments that you can use toward savings or investments. But in an economy that has seen decades of wage stagnation and increasing costs of living, it can often seem like an unattainable goal.

With some planning and initiative, however, there are ways to pay off your home loan before your term limit.

In todayís post, weíre going to talk about three of the ways you can start paying off your mortgage early to avoid high interest payments and save yourself money along the way.

1. Refinance your mortgage

If youíre considering making larger payments on your mortgage, it might make sense to look at refinancing options. Most Americans take out 30-year, fixed-rate mortgages.

If you can afford to significantly increase your mortgage payments each month, you could refinance to a 15-year mortgage. This will save you on the number of interest payments youíll have to make over the years. But, it will also help you secure a lower interest rate since shorter term mortgages typically come with lower interest rates.

This option isnít for everyone. First, refinancing comes with fees youíll have to pay for upfront. Youíll have to apply for refinancing, get an appraisal of your home, and wait for the decision to be made.

But, youíll also have to ensure that you can keep up with your higher monthly payments. If your income is variable or undependable, it might not be the safest option to refinance to a shorter term mortgage.

2. Make extra payments

An option that entails less risk than refinancing is to simply increase your monthly payments. If you recently got a raise or are just reallocating funds to try and tackle your mortgage, this is an excellent option.

Depending on your mortgage lender, you may be able to simple increase your auto-pay amounts each month, streamlining the process. Otherwise, itís possible to set up bill-pay with most banks to automatically transfer funds to your lender.

3. Bi-weekly payments or one extra payment per year

Making bi-weekly instead of monthly payments is an option that many homeowners use to pay off their mortgages early. Bi-weekly payments work by paying half of your monthly payment once every two weeks.

The vast majority of homeowners make 12 monthly payments per year. But by switching to 26 bi-weekly payments, you can effectively make 13 full monthly payments in a year without seeing too much of a difference in your daily budget.

This doesnít seem like much savings in the short term, but letís take a look at how much you could save over the term of a 30-year mortgage.

On a 30-year fixed mortgage of $200,000 with a 4.03 annual interest rate, you would make a monthly payment of $958.00 and a bi-weekly payment of $479.

Over 30 years of an extra monthly payment, you could save nearly $20,000 on the total interest amount and pay off your mortgage almost 5 years early.




Categories: Uncategorized  


Posted by Pamela Bailey on 2/14/2019

Beautiful, Energy Positive Home with spectacular, inspiring views to energize your creativity. Surround yourself in privacy and serenity while not missing out on a single amenity! Expertly engineered to take advantage of the views of the valley and mountainside. Open concept, vaulted ceilings and Chalet-styled wall brings the outside in, creating an energy from the natural surroundings. Most of the main house has hand-cut, antique oak floors that have been laid to perfection! The granite stacked hearth features a dapper, fire-engine red wood stove with a beautiful, matching ceramic exhaust pipe, providing functionality that is pleasant on your eyes! Practical, eat-in kitchen features Labrador granite, black walnut custom cabinetry, an island, complimentary tile back splash, buffet and wine bar and stainless appliances featuring an induction cook-top and walk-in pantry. Separate formal dining room with direct access to the deck for an after dinner apritif while watching the suns

More Info on this Property | New Listing Alerts





Posted by Pamela Bailey on 2/14/2019

Beautiful, Energy Positive Home with apartment and inspiring views to energize your creativity. Surround yourself in privacy and serenity while not missing out on a single amenity! Expertly engineered to take advantage of the views of the valley and mountainside. Open concept, vaulted ceilings and Chalet-styled wall brings the outside in, creating an energy from the natural surroundings. Most of the main house has hand-cut, antique oak floors that have been laid to perfection! The granite stacked hearth features a dapper, fire-engine red wood stove with a beautiful, matching ceramic exhaust pipe, providing functionality that is pleasant on your eyes! Practical, eat-in kitchen features Labrador granite, black walnut custom cabinetry, an island, complimentary tile back splash, buffet and wine bar and stainless appliances featuring an induction cook-top and walk-in pantry. Separate formal dining room with direct access to the deck for an after dinner apritif while watching the sun

More Info on this Property | New Listing Alerts





Posted by Pamela Bailey on 2/13/2019

In the gray days of winter, everyone can benefit from some additional sunlight. Take advantage of the well-documented medical and psychological benefits of sunshine and the vitamin D it generates. Sure, you can open your windows, but then you lose that privacy. You can split the difference with a skylight or a light tube that allows light to come down from the roof of your home.

What is a Skylight?

A skylight is a window that opens up to the sky through the ceiling and roof of your home instead of out the side wall. Skylights come in a variety of styles from clear to frosted or patterned. Some even open and may include fans to help increase ventilation. Skylights must reach all the way through the roof to get access to that sunshine, so they require rooftop placement. That means single story properties can have kitchen skylights, but your two-story home limits skylights to upstairs bedrooms or an office. 

Skylights can be as simple or as fancy if you like. Just want some light? Go with a simple glass pane. Want some architectural detailing? Try a domed skylight or one with built-in shades or blinds. You can even get smart skylights that respond to apps on your phone or open and close on a schedule or with the predicted weather.

How about a Light Tube?

Light tubes differ from skylights because they reflect light down through a variety of tubes using mirrors. This structure removes the "view" element entirely and opens up a variety of locations that wouldn't work for skylights. One of the best features of light tubes is that the rooftop location doesn't have to be directly above the interior position. A lot of modern light tubes come with LED lights, so they work whether or not there is sunshine. Great places for light tubes include bathrooms, closets, and basically any dark niche. Light tubes that terminate in your walls instead of the roof open up lower or middle floors as well. 

Value and Energy

Properly installed skylights potentially decrease your energy costs by adding more natural light which means less electric light. However, if installed poorly, they can mess with your insulation increasing your heating and cooling costs. Always ensure you use the correct skylight for your home and weather. When you add a skylight correctly, it increases your homeís value. The best skylights protect the homeís energy efficiency and blend in well with the original design. You donít want your skylight looking like an afterthought.

Before you add skylights or light tubes to your home, talk to your real estate agent about what the actual market value increase will be and the best skylights to use.




Tags: windows   home upgrades   lighting  
Categories: Uncategorized  


Posted by Pamela Bailey on 2/6/2019

You may keep a spare house key hidden somewhere around your home just in case you lose or forget your main set of keys. How does your hiding place measure up? Is it too obvious that anyone including thieves can find it? You can still have a spare key easily accessible to you without sacrificing the security of your home. 


Never sacrifice the safety of your home for convenience. If you fail to have an alarm system set as an added layer of security, you really could be in trouble if your spare key isnít well hidden. Burglars now have free and easy access to your home.  


The Most Obvious Places To Hide A Key


Under The Mat


Everyone (especially burglars) will look under the mat for a key to get into your home. If you see it in the movies, itís probably too obvious of a hiding place. 


The Flower Pot


This is a textbook area to hide a key in that can be easily accessed by intruders. Criminals know where to look, so you need to think ahead of them. 


Fake Rocks


If the rock doesnít blend in, itís not a good hiding spot! Many pre-fabricated hiding systems can be a bit obvious, so beware. 


On Your Person


Whether you put a spare key in a wallet or your purse, if that gets stolen, there goes your spare key. The perpetrator also has access to your home. Itís generally not a good practice to keep a spare key on your person. 


Good Places For A Spare Key


With A Trusted Neighbor


If the neighbor hides your key on their property, if a thief does find the key, they will assume the key goes to the neighborís house. This is a safe, convenient way to keep a spare key as long as the key is kept somewhere outside the home. You donít want to face a lockout only to find out that your neighbor isnít home.  


In Your Car


Surprisingly, most break-ins happen during the daytime when youíre not home. If you keep your spare key in your car, the key wonít be there while you arenít home.


Near The Dog


If a key is hidden near the place where the dog will be, youíll have little to worry about. Burglars really donít like dogs, mostly because dogs donít like them!  



Forget About Keys


Technology affords us one great option in the present day- keyless entry. If you are constantly forgetting your keys you should invest in a keyless lock system. These typically have codes that can be programmed. Just donít forget the code! 




Tags: home safety  
Categories: Uncategorized