Are you dreaming of a new kitchen?
Do you have a renovation you really want to do to your home? If so, you need to read this…..
I spoke to a potential client recently who wanted to get $150k to make their dream kitchen in their current home. Did you know that we could take her current debts plus this new money for the renovation out of their home and still save them money each month? AND…. We could help them get mortgage free-faster as well…. WITH NO NEW MONEY OUT OF POCKET…. Yes you read that correctly!!!
Here is how…..
I reviewed their current situation and here is what it looked like:
So right now this client was paying $3769/month to cover all the above bills and on track to pay off their mortgage in 22 years.
If we restructured their mortgage an pulled out the $150k renovation money PLUS paid off all the items above & the penalty to break their current mortgage that new mortgage would cost $2042-$2272/month (depending on the product & type of rate they picked).
Now here is where the magic comes in…. what if we set up that new mortgage but continued to pay the $3769/month they are already paying out of pocket every month…. Well that would allow an additional $1727-$1497/month to go directly to the principle of their mortgage instead of interest. This would allow them to be mortgage-free in 11 years and 5 months instead of the 22 years they are currently on track for & save THOUSANDS in unnecessary interest payments to their lenders.
If you have a renovation you are dreaming of then we need to talk, it could be more attainable than you think!