Heather Ryan- Zoocasa Realty Inc

The value is in the land

It's a great time to sell your

Congratulations to my lovely sellers!

One of the main benefits of owning a home is you’re paying your own mortgage instead of your landlord. It’s important to know that your mortgage payment consist...s of two parts an interest component for borrowing the money and a principal portion that repays the balance of the mortgage. In today’s low interest rate environment, a $500,000 mortgage results in a monthly payment of $2,044 or which on 34.3% is interest cost! Only $701.70 is interest and the rest of the payment repays the mortgage balance and builds wealth for you in the form of equity in the home!!! Imagine paying $2,044 per month or $24,528 per year in rent and having nothing in return or paying the same on a mortgage for YOUR home and paying $8,420.40 in interest to carry the mortgage and building $16,107.60 in wealth by paying down your mortgage. See more

Happy St Patrick's Day!