Beat the interest . . .

and save thousands!

Did you know that if you get a $100,000 loan at 7%, over 30 years you will pay $239,000! That is $139,000 in interest charges!

AMS can show you how to beat the interest and save tens of thousands of dollars. It is very simple. Most mortgage companies do not want you to know what you are about to read. Some companies actually charge you to join an equity building or bi-weekly payment program that will reduce your interest and cut years off your loan. DO NOT pay to build equity fast and reduce interest. You can do it on your own for FREE! Take advantage of the information that follows. It's a great tool to save yourself time and money. If you read it and still have unanswered questions, feel free to contact us by phone or e-mail. We are here to help you.

The bi-weekly payment plan you often hear about is designed to accelerate the payoff of your principle balance. This plan is based on you making half of your monthly payment every 14 days. By doing this you actually make one extra payment every year because there are 26 two-week periods in a year, versus only 12 months.

The problem with this plan, is that for it to work optimally, the mail can't be late, the 14th day can't fall on a Sunday or a holiday, and you can never deviate from the schedule. If any of the aforementioned events do happen, you will be off schedule, and it can cause adverse affects on your mortgage. You could even be pinned with late fees.

Also, twice a year, you will have to make three half payments in one month. Basically, this plan is not always practical. At AMS, we have a much simpler solution for you and your pocket book. Divide your monthly payment by 12 and pay that much extra every month. This keeps you from being obligated to strict time schedules and multi-payments. And allows you to make one extra payment per year, the equivalent of the bi-weekly plan.

Another way to build equity faster is to simply pay a small amount extra each month. If you pay just $25 to $50 extra each month, you can cut years off your loan, and save yourself tens of thousands of dollars in interest charges.

At AMS we often recommend to our customers to finance your mortgage on a 30-year term, but pay the payment of a 15-year loan. This way you are only obligated to pay the smaller 30-year payment, but receive the benefits of the 15-year term. This method provides you with greater flexibility of your finances, and may offer excellent tax advantages.

This advice can work great, and best of all, it is free. We would, however, like to make it clear that paying extra does not set you ahead on your monthly payments. Even if you make 2 payments in one month, you still owe a payment the following month. Be responsible with what you pay extra, and make sure that you always have enough money to make the minimum monthly payment.

We hope this information has helped you and will set you on your way to a stronger financial future. Contact AMS today and let one of our experienced mortgage consultants help you start saving money. We would love to amortize a payment program for you to show you the financial benefits you could experience.