These 3 clients broke their mortgages, paid a penalty, and still saved between $9,000 and $26,000!
While I originally posted this article in September of 2015, I think now is a good time to take another look.
Fixed mortgage rates are at an all-time low. If you have a mortgage that is over 3.09%, then you should consider breaking it, paying the penalty and getting into today’s lower rates.
That’s the short answer… the full answer is a little more complex, but it’s really just simple math. If the savings is greater than the cost to break, then the answer is obvious. You should do it! I’ll give you some real life examples of clients whose savings could be huge $$s today if they paid their mortgage and the penalty and went into a new lower rate mortgage. Check out these success stories…
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