2023 is up and running, which means we are too! We hope you had a great time ringing in the new year!

Does anyone else have saving money on their resolution this year?

One way to lower one of your monthly bills is to remove your PMI on your mortgage payment. If you put less than 20% down when you purchased, chances are it’s there each and every month. With home values steadily increasing over the last few years, even without putting more money towards your home, you could already have 20% equity or more due to market values. If that’s the case, then you can potentially have that PMI taken off and your monthly payment will go down. #WINNING

How to find out?

Reach out to us and request a home valuation. We will check out your home, consider any updates needed or recently completed, review any recent sales and give you an idea of current market value for your home.

What to do?

If the numbers align, we will recommend you calling your mortgage servicer and requesting the PMI be removed. Once the adjustment is made here are few good options to consider:

• Save it $$$- Put it in an interest bearing savings account for a rainy day
• Apply what you saved towards additional principal each month to pay down your note quicker
• Save it all to make one additional mortgage payment at the end of the year. By making 1 extra payment each year, you can knock off around 7 years of your 30 year note. You know what that means, less interest = save more $$$

If you have questions, as always let us know. We are here to help in anyway.

Cheers, RREG