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House Hacking in Chicago

Posted by Jack O. Pysz on Tuesday, August 29th, 2017 at 10:36pm.

More and more Chicagoans start what is called a "house hacking". The purpose and the idea is to offset the cost of owning a primary property by renting out a part of it. This could be accomplished by getting a long term tenant or simply by "AirBnB'ing" it. House Hacking is a term used when the money coming from the extra rent is being used towards paying off the mortgage early and reaping  the benefits of early equity in the property. Every time you make extra (over payment) payment on your mortgage (in most instances) , the entire extra amount is applied directly to the principal, meaning your mortgage payoff graph is being put on steroids.

Check out our mortgage calculator to see how fast you can pay off your mortgage.

 

2 Responses to "House Hacking in Chicago"

Simple Home Fixes to Attract Buyers wrote: [...]Links

House Hacking in Chicago
Why Is It Important To Use A Professional When Selling Your Home?
You[...]

Posted on Wednesday, August 30th, 2017 at 10:35am.

Simple Home Fixes to Attract Buyers wrote: [...]Links

House Hacking in Chicago
Why Is It Important To Use A Professional When Selling Your Home?
You[...]

Posted on Wednesday, August 30th, 2017 at 10:35am.

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