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PalmerGA · 10-10-2013, 08:42 AM

Congrats on your first home! It's a wonderful feeling to "own" your own home. Knowing nothing at all about your financial situation, I can only say that (if you intend to stay in this house for a long time) and if at all possible:

1. Consider a 12-15 year mortgage, rather than 30 years. Your payment will not be tremendously higher and you will save thousands of dollars over the life of your loan. Depending on the amount of the loan, you could save tens or hundreds of thousands. Just look at your options if you have not already.

2. When payment time comes each month, add something to it to pay down the principle. Even $50-100 bucks makes a difference in the long run. The lower your principle, the lower amount of interest you pay and the sooner you will actually own your home - free and clear.

Best of luck!

10-10-2013, 08:42 AM	#11
PalmerGA Drives: 2013 SIM 1SS/RS L99 Join Date: May 2012 Location: Southwest GA Posts: 8,754 View My Garage	Congrats on your first home! It's a wonderful feeling to "own" your own home. Knowing nothing at all about your financial situation, I can only say that (if you intend to stay in this house for a long time) and if at all possible: 1. Consider a 12-15 year mortgage, rather than 30 years. Your payment will not be tremendously higher and you will save thousands of dollars over the life of your loan. Depending on the amount of the loan, you could save tens or hundreds of thousands. Just look at your options if you have not already. 2. When payment time comes each month, add something to it to pay down the principle. Even $50-100 bucks makes a difference in the long run. The lower your principle, the lower amount of interest you pay and the sooner you will actually own your home - free and clear. Best of luck! __________________ 2013 1SS/RS Coupe L99, Stainless Power Works LT Headers, SCT X4 Custom Tune from RDP, CAI Inc. Air Intake w/ Apex Scoop, VMAX CNC Ported Throttle Body, Solo Axle-Back Exhaust w/ J-pipes, Apex Catch Can, Husky Splash Guards, Heritage Grille, 3D Carbon Rear Spoiler, Oracle Chrome Turn Signal Bulbs, GM Reverse Light Trim Billets, Gorilla Black Locking Lugs, Emblem Pros Retro SS Badges/Custom Retro SS Kickplates/Under-hood Bowtie, 35% window Tint, Nitto Motivo Tires (6-8-18)