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Video instructions and help with filling out and completing Why Form 4797 Newsletters

Instructions and Help about Why Form 4797 Newsletters

Categories right here on behalf of the auxiliary today I'm going to talk what question I get asked frequently and not simply this how does amortization affect my monthly payments and my overall cost of borrowing well for starters the longer you advertise a debt over the more interest you'll pay in the long run but there are times that you may want to do this and we'll talk about in just a moment but for starters when you're doing a high ratio mortgage in other words you've got less than twenty percent down the maximum advertised ation you can have is up to 25 years of course you can have less by 25 is the maximum when the mortgage is conventional in other words we've got at least twenty percent down we can have advertised ations typically of 25 I've seen 30 years we've got some our Ledger's doing that some lenders are still doing 35 years and we've even got a couple letter go up to 40 years now as I mentioned to you the interest cost is more expensive over time when you advertise it over a longer period so why would you want to do it well if you have an investment something else that you can pour the additional cash flow into that would make more sense than the mortgage costs that would be a time you want to do it you may also want to contribute to your RS piece instead and get that tax refund and utilize it that way there may be other loans that you may want to pay off for other debts that are higher interest debts that may make more sense paying off well the bottom line is whatever it may be we're here at auxiliar to help figure...