’Tis the season for spending… but what if this year, you gave yourself the gift of a smaller mortgage payment? 🎁
While everyone’s wrapping gifts, here’s how to wrap up real savings that could cut your monthly payment — no magic required:
💰 1. Refinance to a lower rate
Even half a percent matters. If you bought when rates were higher, check your current rate — refinancing a $400K loan from 7% to 6.5% could save you roughly $130/month. Talk to your lender about a no-cost refi or rolling fees into your loan if cash is tight.
🏠 2. Remove PMI once you hit 20% equity
If your home value’s gone up, you might qualify to drop private mortgage insurance — that’s $150–$300/month in instant savings. Ask your lender for a new appraisal or check your equity on Zillow or your mortgage portal before you call.
📅 3. Switch to biweekly payments
It’s not about paying more — it’s about paying smarter. Two half-payments every two weeks means 26 payments a year — that’s one full extra payment snuck in, helping you pay off your loan years faster. Ask your lender if they offer a biweekly plan, or set up auto-pay yourself.
🧾 4. Shop around for better homeowners insurance
Most people renew without checking. Compare quotes from at least three insurers — bundle with auto, raise your deductible a bit, or ask your agent about loyalty and safety discounts. You might save $500+ a year with one phone call..
💬 Comment “SAVE” below and I’ll walk you through which of these could lower your payment this month.
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