Banks and Wall Street have a vested interest in controlling the narrative when it comes to mortgages. It’s crucial to do your own thinking. We want our clients to question everything because what we teach is in direct conflict with what the financial media tells you to do.
The common narrative of making the largest down payment, getting a 15-year mortgage instead of a 30, and making extra payments benefits the bank, NOT you! That might shock you. But it’s the truth, and we can prove it. Just because you pay less interest, doesn’t mean you pay less cost. Those are two different concepts that are purposely blended.
Banks don’t educate the public on financial concepts that influence the mortgage decision such as the role of inflation, killing a tax deduction, the ability to make a spread, the value of liquidity, having to requalify for the equity, etc…
Do what the banks do, not what they tell you to do.
Give us a call, and we can analyze your property to show you how paying a mortgage off early, COSTS you money!