The interest rate you have on your house should remain the same throughout the loan of your house unless you refinance it. So hopefully somebody, like I said, a magic money person can explain this to me. And I don't know, maybe we could stand up and change something in the country that would sure help a lot of folks that are having a struggling time as it is. But give me some feedback on this
Step forward and say something I've learned is that if you do prioritize an extra payment every quarter of the year, like let's say your mortgage is, you know, $2,000, right? And let's say depending on when you bought your house, I mean, like I said, I bought my house last year, so I have a pretty high interest rate. To be honest, it's definitely not pretty, but this is my exact numbers
Tanya Coles
@MsColes77 · 4:23
Hey, MJ, I am a homeowner. I'm not a finance guru, but I am a homeowner. And I do have a fixed interest rate on my home. I do believe that it is the type of mortgage loan that you get that determines whether you have a fixed or a variable interest rate. I know that in some situations, entrepreneurs have to get mortgages that have fluctuating interest rates because they're with an entrepreneur or business
Swell Team
@Swell · 0:15
MJ Brewer
@Mommas_Jungle · 1:01
Hey, Michael, I do not know if you're right on the money or not, but I do know that paying extra certainly will not help with any payment. As far as that goes
MJ Brewer
@Mommas_Jungle · 1:00
You're awesome. And it just goes to show that, you know, you never know what's going on. But when you put your two cent in there anyways, all added together, it could come to that dollar. Thank you, ma'am. And I really appreciate swell right now