Do You Have a Real Estate Related Question? We Will Email You an Answer Quickly. As Wilmington, Newark and Middletown real estate experts, it's our job to help! Please take advantage of our experience and knowledge. Ask us anything about: - Any particular home that is or was on the market. - Neighborhoods and local market trends. - Local demographics and the economy. - Tricks and traps when buying real estate in this area. - Special tax considerations regarding real estate. - Specific questions about contracts, escrow, and closings. - Anything real estate! It's our job to know EVERYTHING about real estate! Ask us anything. There are no dumb questions! It's FREE, and we promise to get back to you quickly... 
Financing Your Home >Your Mortgage
Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.
More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!
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| Q |
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
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| A |
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean. |
 See More Real Estate Trivia > |
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Erik Hoferer & Associates
Keller Williams Realty
1521 Concord Pike Suite 102
Wilmington, DE 19803
302-299-1111
Fax: 302-299-1197
ErikHoferer@NUMBER1EXPERT.com
Erik Hoferer is a licensed Realtor in Delaware and Pennsylvania and his experience will save you time and money. Selling Real Estate is all Erik does. He loves it, and his passion positively impacts each and every one of his clients. Put Erik and his team at Erik Hoferer & Associates to work for you and see why Erik has been the #1 selling agent at Keller Williams in Delaware since 2008! Erik specializes in New Castle County, Delaware and Southern Chester County, Pennsylvania and he would love to help you with all of your Real Estate needs.   
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