Who Are You Making Rich?

You get the mortgage loan.

You make the payments.

Usually, 360 payments over 30 years.

Paying back about double, or more, what you borrowed. That’s 100% interest – or more.

You do the work.

The bank, the mortgage lender, gets the money.

They get rich, you do the work.  They WIN, you lose.

Do you have any doubt?

Look around any city, or small town.

Who has the nicest buildings?

Whose name dominates the skyline?

The banks can’t do that without your help. Your work. Your money. Paid to them. Making them rich. While you stay poor. They WIN. You lose.

Think about how the payments on a mortgage loan work.

Let’s take an example of a $150,000 loan, at a possible 4.5% interest rate, paid over 30 years.

Your payment will be $760. The interest on that first payment will be $562.50. Only $197.50 goes to principal. This means 74% of your payment goes to interest. Although the stated interest rate is 4.5%, it’s like you are really paying 74% interest.

The amount of interest and principal you pay on each payment do not even equal each other until payment number 176. That is about the halfway point in the loan payments. And at that point your loan balance is still over $100,000! $101,645 to be exact. You still owe over 67%, two-thirds, of your original balance – even though you are halfway through the loan payments.

Then, when you make all 360 payments over 30 years, on this same example you will pay back a total of $273,600. That means you paid $123,600 in interest. You pay 82% in interest on the principal balance. That’s like a rate of 82% interest.

So, however you look at it, you are paying a lot more than the 4.5% it sounds like. Yes, the 4.5% is the actual rate used to calculate your payment. But it gives a false illusion of how much interest you really pay. In this example, you are paying anywhere from 67% to 82% in interest. Here is more about the various rates you pay.

Then, beware – when rates go up, all of these numbers will increase – substantially.  See how these numbers look at higher rates here.

Your work will make the lenders, the banks, even richer.

You have a choice.

Keep working for them and lose, or turn it around and work for yourself and WIN.

Your choice.

A Real Mortgage Consultant will show you how to make interest work for you, not against you. How you can pay off all your loans, including your mortgage, typically in about 6-10 years on your current income, in about the same time as you would normally pay off your mortgage the regular way, then potentially become a millionaire in about the same time.

It’s a significant change. Work for them. Or work for yourself.

Make them rich and lose. Or make yourself rich and WIN!

You decide.

Contact us and we’ll discuss how we can help you.