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Dice Financial Services Group

1716 N. Sanborn Blvd, PO Box 790

Mitchell, SD 57301


Phone:     605-996-7171

Toll Free: 800-658-3603


Website: www.dicefinancial.com

January/February 2023

Home Mortgages

Whether you’re buying a house or you’re already a homeowner, your largest monthly payment generally is your mortgage. The upside is you’re building equity in your home. The downside is the substantial amount of interest you’ll pay over the life of the loan. Finding a way to reduce that amount is a smart financial move.

If You’re Just Getting Started
When you’re purchasing a home understand that mortgage rates will vary depending on the loan term —the shorter the term, the lower the interest rate and the higher your monthly payments. Saving a substantial down payment before you go house shopping also means you’ll have to borrow less.

Already a Homeowner?
If you already have a mortgage, you may be able to save on interest by making extra payments to shorten the length of the loan. You can do this by putting additional money toward the loan principal each month, allowing you to pay off your mortgage faster. Check with your lender first to make sure there are no prepayment penalties.

Before You Retire
If you’re close to retirement, paying off your mortgage while you’re still working makes good sense. Not having to make mortgage payments each month can substantially increase the money you have available when you retire.


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Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth. Insurance Services offered through Dice Financial Services Group.
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