How can I pay off your mortgage faster?
My 5 year old son and I recently bought a house in 70000. We put 20% down, so now we need $ 56,000 just to make payments on an ARM 7% for 15 years. I was wondering if it’s not too crazy about 28,000 loans to get my name and my boyfriend for 28,000 loans and repay the mortgage. The reason I thought it would be cool because of less interest because it is a smaller amount of the right and we would be able to repay within 15 years. I do not like the idea, most of my money goes toward interest. If anyone thinks I’m crazy and say “me” and I’m willing to listen to good advice. Thank you! Then my boyfriend and I would like to pay your monthly loan will also pay off my loan. Neither one of us should be concerned about someone dropping the ball in payments because we are conscientious about paying bills and ARM õigeaegselt.7% is a ceiling of 9%. We went to this type of loan, because we do not have to pay the closing costs that way, and I do not know if we’ll stay in this house long enough to tell the difference between the closing costs, we went to a fixed rate of 6.5%.