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Save Thousands: Smart Strategies to Reduce Your Mortgage Costs

Save Thousands: Smart Strategies to Reduce Your Mortgage Costs

Your mortgage is probably your biggest monthly expense. But what if you could cut that cost—without refinancing your life?

The truth is, there are smart, simple ways to save thousands over the life of your loan. At Mac Does REI, we help homeowners and buyers make smart money moves every day. Here’s how you can start doing the same.

1. Shop Around for Lenders (Yes, Really)

A lot of buyers make one big mistake: they go with the first lender they talk to. But here’s what most people don’t realize—you can (and should) get quotes from multiple lenders.

Why? Because:

  • Rates can vary by half a percent or more between lenders
  • Some offer lower fees or better terms
  • You can use one quote to negotiate a better deal from another lender

Even a 0.5% rate reduction could save you tens of thousands over the life of your loan.

Want help comparing offers? We work with trusted mortgage pros and can help you evaluate your options. Reach out now at macdoesrei.com.

2. Refinance When the Time Is Right

Interest rates change. So do your finances. If rates have dropped or your credit score has improved since you got your mortgage, refinancing could help you:

  • Lower your monthly payment
  • Switch to a better loan type
  • Get rid of PMI (private mortgage insurance)

Even if you’ve only had your mortgage for a few years, refinancing can make sense—especially if you plan to stay in the home long-term.

Not sure if refinancing is worth it? Let us run the numbers with you. Schedule a free consult at macdoesrei.com.

3. Make Extra Payments (Even Small Ones)

Every dollar you pay beyond your monthly payment goes straight toward your loan principal—and cuts down the interest you’ll pay over time.

Ways to do this:

  • Round up your payment (e.g., $1,430 → $1,500)
  • Make one extra full payment per year
  • Split your monthly payment in half and pay biweekly

That one extra payment a year? It could knock years off your loan term and save you thousands in interest.

Want a simple plan to knock years off your loan? Talk to our mortgage strategy team at macdoesrei.com.

4. Eliminate or Avoid PMI

PMI (Private Mortgage Insurance) is often required if you put less than 20% down. It protects the lender—not you—and it can cost hundreds each month. (Pro Tip: If you use FHA with a minimum 10% down, you can later remove the PMI)

You can avoid or eliminate PMI by:

  • Putting 20% down when you buy
  • Refinancing once you’ve reached 20% equity
  • Requesting PMI removal if your home value has gone up

Don’t pay PMI longer than you have to.

We’ll help you check if you’re eligible to remove PMI now. Just visit macdoesrei.com and ask about our PMI check-up service.

5. Leverage Tax Benefits

Mortgage interest and property taxes are often tax-deductible. But most homeowners aren’t taking full advantage.

Make sure you:

  • Track all mortgage-related documents for tax time
  • Review your deductions with a tax professional
  • Appeal your property tax assessment if it’s too high

Saving on taxes = more money in your pocket every year.

Need a trusted tax pro or want to see if you’re overpaying on property taxes? Our team at macdoesrei.com can point you in the right direction.

Ready to Start Saving?

You don’t need to wait years to lower your mortgage costs. Many of these strategies take just a few minutes to explore—and they could save you thousands.

Let’s build your mortgage savings game plan together.

Reach out to the MacDoesREI team today:

Bonus Tip: Start Early

If you’re not a homeowner yet—good news. You have even more options to lock in savings. From lender shopping to down payment strategies, we’ll help you set yourself up for the best deal possible.

Get personalized advice before you buy. Book your free prep call now at macdoesrei.com.

 home buyer, house, home owner



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