Mortgage Extra Payments

This tool allows you to illustrate the behavior of extra payments on your mortgage in the other areas of the PEM that you could potentially choose to place those funds.

We have all been taught that paying interest is bad, the less you owe the less you pay, etc.  BUT with Major Capital Purchases it is important to consider that “You finance everything you buy”.  Here is a great example tool to show us what we could have done with our extra mortgage payments in other areas of our financial model had we not given it over to the lender.

Discuss with the client the rate they are earning in the risk and safe tanks, determine a loan interest percentage and appreciation rate on the house, then input the extra payment amount.

Advance the screen and watch the animation.  Discuss the solutions on the screen