What is Your Mortgage Strategy?
The visual aid below was created to help you
determine what your individual mortgage strategy will be.
Try and visualize a U.S. football game- it has 4 quarters plus overtime. Well,
your mortgage is very similar. It usually has an amortization period of 25
years, which is like the football game example.
If you take a variable rate mortgage, say 3.5%, well that would be the score in
the first few minutes of the first quarter (top of the chart).
If you took a 5 year mortgage, well that would be the score at the end of the
first quarter… You should be starting to see where we are coming from.
I think most of you would agree with us, that if you are a player down on the
field, it would be pretty hard to see the big picture as the plays are
occurring. However, if you were up in the “Goodyear Blimp” way above
the playing field, you would have a much clearer picture of what was going on.
Well, for purposes of making this important financial decision, we want you up
in the “blimp”. We will use this chart while working with you to
determine your personal mortgage strategy.
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