There are no shortage of millionaires singing the praises of real estate investment. Still, it is not a good idea to do any investment on auto-pilot. Make it a point to know how all of your investments are performing.
Believe it or not, you don't have to have a mortgage for thirty years! Actually a fifteen year mortgage may cost you only a bit more each month than its thirty year counterpart. So what does a little bit of pain each month gain you? How about a house free and clear in just fifteen years!
It's the question everybody wants to know when they buy a house, 'How much will my monthly payment be?' This simple calculator will give you an estimated monthly payment while you are still 'just browsing.' Before you sign on the dotted line, be sure to get the exact number from your lender.
The way mortgages are designed you spend most of the early years paying just interest. Throwing a little extra at principal each month can save you a bundle. If you are already strapped this might be a good goal to shoot for.