Conventional Loans
Set your official term
When it comes to managing the timeline of your home loan, the flexibility is in your hands. With a conventional mortgage, the traditional 30-year term can be tailored to better suit your financial goals. Whether you opt for a shorter 20-year, 15-year, or even an accelerated 11 ½-year loan, the choice is entirely yours to make.
This versatility empowers you to tailor your mortgage to fit your financial strategy. Opting for a shorter loan term can lead to significant savings in the long run, as it potentially reduces the total interest paid over the life of the loan. Moreover, by selecting a shorter term, you expedite the journey to debt-free homeownership, securing your financial future sooner.
Consult with IBIS Financial Corporation
However, before finalizing any decisions regarding altering your payment structure, it’s highly advisable to consult with a financial or tax advisor. While early payoff can significantly reduce interest expenses, it’s essential to consider that mortgage interest often carries tax-deductible benefits. Eliminating this deduction might impact your finances in other areas.
Additionally, redirecting funds towards other investment opportunities could potentially yield more substantial long-term benefits.
At IBIS Financial Corporation, we prioritize empowering our clients with choices that align with their financial aspirations. Our team remains dedicated to assisting you in navigating these options to optimize your financial journey and secure a prosperous future.
Mortgage Calculator
Explore our Mortgage Calculator—it’s an easy tool to calculate the additional monthly payment needed to achieve your mortgage payoff goal. You’ll be surprised how even a modest extra amount can significantly impact your timeline!