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Mortgage Advice - Tip #2

Save your money with a 2-term mortgage

Diversify your mortgage and average your rate down.

Consider the following "money-saving" plan based on a $150,000 mortgage:

By splitting your mortgage into two different terms, a variable rate mortgage at 4.25% (Prime less .5%), and a 5-year fixed rate at 5.15%, you achieve an average rate of 4.70%. This will save you hundreds of dollars and help pay your mortgage off faster!

How much interest will you save? 

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