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Creative Real Estate Financing

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11
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Joseph A Michel
Pro Member
  • Real Estate Agent
  • Lexington, SC
3
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11
Posts

Extra mortgage payments.

Joseph A Michel
Pro Member
  • Real Estate Agent
  • Lexington, SC
Posted Aug 1 2022, 03:18

My team and I refinanced on our duplex last year to take cash out for a downpayment on another property. We may want to do the same thing again in a few years depending on what interest rates look at the time.  If we make a couple additional mortgage payments each year, will that lower the amount of interest we pay overall even if we refinance 5 years down the road, helping us build more equity in the property besides the dollar amount taken off the loan from the extra payments?  

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