Joe Jaspers photo

Joe Jaspers, CFP®

Vice President, Wealth Management

 

Carolinas Telco Capital Advisors

Located at Carolinas Telco FCU

9813 South Blvd, Suite 101

Charlotte, NC 28273

 

Phone:     704-391-5600

Toll Free: 800-622-5305, ext. 2608

Fax:         704-556-1652

 

Email: joe.jaspers@lpl.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 advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:

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