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| Check your mortgage plan |
Check your mortgage plan. Some plans have higher interest rates and others will give you a lower payment.
Why? Mortgage plans like ARMs, interest only, and 30 year mortgages can all give you a lower monthly payment, BUT some will make you pay more in the long run. If you just want a lower payment then go with one of these. If you want to pay off your mortgage sooner, then you will have to pay more money a month.
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