如何Mortgage Free? 你不必等到快退休的时候。

如何Mortgage Free? 你不必等到快退休的时候。

Many people did not realize that for certain type of the house, installing a solar system can make you “mortgage free” or at least low you monthly mortgage payment . You don’t have to work hard till your near retirement. below is the example to show how it works:
House value 350k or more, the south faced roof area 900sf or more.

Mortgage balance 200k , term 4% 5y fix,35y amortization monthly pay 823.66$/M

Home equity 70k 3.5% 204$/M for interest.

use your home equity to install 10kw solar system .
10kw Solar PV average monthly income 1000/M

Payment monthly 823.66+204-1000=27.66$

or re-mortgage to increase the mortgage balance to 270k to finance 70k of the capital. the new mortgage monthly payment term is 4% 5y fix, 35y amortization, monthly payment will be 1190$/M.

10kw Solar PV average monthly income 1000/M

Payment monthly 1190-1000=190$

you don’t have to invest extra money, your mortgage payment goes down to less than 30$/M.

Of course, if your mortgage balance is less than 200k, and your house meet the above condition, you definitely can get mortgage payment free or even positive cash flow.

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