3 Ways to Save on Mortgage Interest Payments

Are you a San Diego home buyer looking for ways to save on mortgage interest payments? You're not alone. With the high cost of living in Southern California, it's no surprise that many homeowners are seeking ways to trim their expenses. Luckily, there are several strategies you can use to reduce your mortgage interest payments and save money over the life of your loan. In this blog post, we'll explore three effective methods for cutting your interest costs and keeping more money in your pocket.

Whether you're a first-time buyer or a seasoned homeowner, these tips will help you achieve your financial goals and enjoy greater peace of mind as a borrower. So let's dive in and discover how you can start saving on mortgage interest payments today!

Here are three ways to reduce your mortgage interest payments:



Make a larger down payment

Consider a larger down payment - It may not be possible for everyone, but putting down more than 20% of the home's purchase price can reduce your mortgage amount and lower interest payments. A bigger down payment could also lead to a better interest rate and save you thousands over the life of the loan. Delaying your home purchase until you can save up enough for a larger down payment could be worth it.


Shop your mortgage

Don't settle for the first advisor you speak with. Research and compare rates from different lenders, and consider working with a mortgage broker for even more options. Finding the best rate and terms that fit your needs can save you thousands over the life of your loan.



Make bi-monthly mortgage payments

Making an extra payment each year can lower your principal loan amount and reduce interest charges over time. This strategy could help you pay off your mortgage up to 8 years sooner than with monthly payments, saving you thousands in the long run.

Planning to Buy a Property?

Here's What You Need to Know

As you can see, there are multiple ways to quickly reduce your mortgage interest payments and begin saving money. The best way to make sure that you are getting the most value out of your San Diego real estate investments is to team up with a real estate professional who knows the local market best. You can ensure that your money is being wisely used and taken care of.

It's time for you to take advantage of all the hidden gems present in San Diego real estate and begin working towards achieving financial freedom! Ready to enter this exciting venture?

Let’s connect and I will help guide you through the process so we can start making your dreams come true today!

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Melina Rissone

Having sold properties for more than 17 years and earning various prestigious awards throughout the course of her career, Melina Rissone has more than earned her reputation as one of San Diego's most skilled and trustworthy real estate brokers.

  • Coldwell Banker Global Luxury and Institute of Luxury Home Marketing certified.
  • Cartus Network Inventory Specialist and Cartus Network Marketing Specialist since 2015.
  • RCS-D Designation, a Real Estate Collaboration Specialist for Divorce.
  • SRES Certification through NAR is a Seniors Real Estate Specialist certification.
  • Melina is bilingual in English and German.
  • Recognized as the Top 4% of all real estate brokers in San Diego County in 2021 and the Top 3% of Coldwell Banker International.
  • Coldwell Banker Presidents Elite Award.