Carolyn Kipp - Realtor

If you are looking to take advantage of the 2023 real estate market, but aren't quite sure which angle to take, contact me for assistance.

Call or text me today. Carolyn Kipp, Monument Realty at 214-490-5668.

Follow me on Instagram: www.instagram.com/selling_dfw.

If you are in the market to buy, sell, or lease a home in the Dallas area, call or text me today! Carolyn Kipp, Monument Realty at 214-490-5668.

See our featured listings from Monument Realty: https://www.monumenttexashomesearch.com
Search for your next home in DFW and contact me to show you these beautiful homes in person. Call or text me today! Carolyn Kipp, Monument Realty at 214-490-5668.

Here's another Kipp Tipp to paying off your mortgage earlier.

1. Refinance your mortgage
If interest rates decline, you may be able to reduce the amount you pay toward interest by refinancing your mortgage. Additionally, you may also elect to reduce your loan term significantly.

2. Make extra mortgage payments
Another way you may be able to save money on interest, while reducing the term of your loan is to make extra mortgage payments. If your lender doesn’t charge a penalty for paying off your mortgage early, consider the following early mortgage payoff strategies.

Just remember to inform your lender that your extra payments should be applied to principal, not interest. Otherwise, your lender might apply the payments toward future scheduled monthly payments, which won’t save you any money.

Also, try to prepay in the beginning of the loan when interest is the highest. You may not realize it, but the majority of your monthly payment for the first few years goes toward interest, not principal. And interest is compounded, which means that each month’s interest is determined by the total amount owed (principal plus interest).

3. Make one extra mortgage payment each year
Making an extra mortgage payment each year could reduce the term of your loan significantly.

The most budget-friendly way to do this is to pay 1/12 extra each month. For example, by paying $975 each month on a $900 mortgage payment, you’ll have paid the equivalent of an extra payment by the end of the year.

4. Round up your mortgage payments
Another way you can help reduce the term of your mortgage significantly is to round up. When budgeting for your mortgage payment, round up to the next highest $100 amount. Pay $800 instead of $743. Or $900 instead of $860.

5. Try the dollar-a-month plan
The dollar-a-month strategy should be financially feasible if your income increases slightly but consistently over time.

Each month, increase your payment by $1. Simply pay $900 the first month, $901 the second month, and so on. For a 30-year, $900-per-month mortgage with a 6% fixed interest rate on a loan of $150,000, you could reduce the term of your mortgage by eight years.

6. Use unexpected income
Send any unexpected windfalls straight to your mortgage company. This includes holiday bonuses, tax returns and credit card rewards. Using this money won’t cut into your regular monthly budget.

Benefits of paying mortgage off early
Many people struggle when deciding whether to pay off their mortgage or build up savings, but in the long run, the benefits of getting free from that mortgage really shine through. For one, having one debt paid off means being able to handle any short-term debts such as credit cards. You also end up saving money if you pay off your mortgage earlier, avoiding additional interest that would have otherwise accrued. Your financial stability is bolstered by cutting out these future payments and also by your ability to better endure turbulent housing market conditions.

If you’re thinking about selling your home, let's connect to best support your goals in today’s market. Call or text me today! Carolyn Kipp, Monument Realty at 214-490-5668.

More than ever, having a professional on your side doesn’t just make your life easier when trying to sell your house – it keeps you safer and may put more money in your pocket too. If you’re thinking about selling your home, let's connect to best support your goals in today’s market.

Call or text me today! Carolyn Kipp, Monument Realty at 214-490-4568.

If you want the latest listings and home buying and selling tips, follow me on Facebook: https://www.facebook.com/CarolynKippRealtor
Call or text me today! Carolyn Kipp, Monument Realty at 214-490-4568.

Find Your Space. If you are looking to take advantage of the 2023 real estate market, but aren't quite sure which angle to take, contact me for assistance.

Carolyn Kipp, Monument Realty at 214-490-5668 and let me put a winning strategy to sell or buy your next home.

Email: [email protected]

Here's another Kipp Tipp to help you sell your home quicker.

Upgrade Your Lighting: One of the easiest ways to increase the visual impact of your living spaces without expensive remodeling is to update your lighting.

You’d be surprised how much outdated lighting fixtures can alter a buyer’s perception of the entire home.

Replacing your old lighting fixtures with new ones will instantly brighten and refresh the look of each room — best of all, there is a wide variety of fixtures available for around (and even under) $100.

If you’re thinking about selling your home, let's connect to best support your goals in today’s market. Call or text me today! Carolyn Kipp, Monument Realty at 214-490-4568.

How To Choose A Home That's Right For You

1. Figure Out Where You Want To Live
2. Make Sure A Home Checks Your Must-Have Boxes
3. Narrow Your Search To True Contenders
4. Consider Old vs. New
5. Be Realistic About Your House Goals
6. Stick To A Budget
7. Look For Potential Issues With The House

If you’re thinking about selling your home, let's connect to best support your goals in today’s market. Call or text me today! Carolyn Kipp, Monument Realty at 214-490-5668.

More than ever, having a professional on your side doesn’t just make your life easier when trying to sell your house – it keeps you safer and may put more money in your pocket too. If you’re thinking about selling your home, let's connect to best support your goals in today’s market. Call or text me today! Carolyn Kipp, Monument Realty at 214-490-4568.