Benefits
Why use GM&R Mortgage Savings Coupon?
- SHORTEN YOUR LOAN TERM by 15 years sooner instead of the current 30 year mortgage!
- SAVE MONEY on tens of thousands of dollars in interest charges!
- BUILD EQUITY in your home 374% more than the traditional 30 year mortgage!
- INCREASE YOUR NET WORTH substantially and retire debt free!
- SIMPLIFY PAYMENTS – just cut and send the coupon with your regular mortgage payment to your current lender each month
- NO refinancing fees!
- NO credit report!
- NO home appraisal!
- NO closing costs!
- NO change of lender!
- NO change to current mortgage contract!
- How? By using the coupon to pre-pay your principal payment each month before it’s due!
You could have a 30 year mortgage and pay it off in 15 years using the GM&R Mortgage Savings Coupon versus having a 15 year mortgage with a much higher monthly payment.
For example:
A $300,000 loan with a fixed rate of 5.75%, 30 year mortgage = $1750.72.
A $300,000 loan with a fixed rate of 5.75%, 15 year mortgage = $2,491.23.
By applying the Mortgage Savings Coupon on a 30 year mortgage, you can achieve the same goal to payoff the loan in 15 years and your payments would be much less.
Compare Refinancing vs Mortgage Savings Coupon (MSC)
| Refinancing Costs* | VS | MSC Costs | |
| Points – Average (2) | $6,000 | None | |
| Appraisal | $450 | None | |
| Credit Report | $45 | None | |
| Survey | $100 | None | |
| Underwriting Fee | $850 | None | |
| Document Preparation | $150 | None | |
| Title Insurance & Search | $1200 | None | |
| Note Tax | $300 | None | |
| Intangible Tax | $200 | None | |
| Roof & Termite Inspection | $150 | None | |
| Pre-paid Interest | $1,500 | None | |
| Recording Fee | $100 | None | |
| Two Years Tax Returns | Yes | No | |
| Income Verification | Yes | No | |
| Verification of Deposit | Yes | No | |
| TOTAL COST | $11,045 | 2% of interest savings |
*Based on a $300,000 mortgage in the state of California. Other states and areas may vary.
MSC Cost
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