5 Smart Moves to Wrap Up Your Year Financially (And Prepare for a Strong 2025)
December 1, 2024
As the year winds down, it’s the perfect time to take stock of your financial progress and set yourself up for a successful 2025.
Whether you're a homeowner or planning to become one, these five smart financial moves can help you make the most of your year-end review.
1. Review Your Mortgage and Financial Progress
Take a moment to reflect on your mortgage journey this year.
- Did you make extra payments toward your principal? Even small additional payments can reduce the life of your loan and save you money on interest.
- Is your current interest rate still competitive? Market conditions change, and it might be worth exploring if there’s a better option for your needs.
- Have your financial priorities shifted? Life changes—whether it’s a new job, growing family, or other big events—can impact your goals.
Use this reflection to gauge if you’re on the right track or if adjustments are needed heading into the new year.
2. Evaluate Refinancing Opportunities
The end of the year is an excellent time to explore refinancing possibilities. With interest rates in constant flux, refinancing your mortgage could reduce your monthly payments or help you pay off your loan faster.
For example:
If you refinance a $300,000 loan from 6% to 5%, you could save over $200 per month!
Consult with a trusted lending professional to see if refinancing aligns with your goals and financial situation.
3. Maximize Tax Deductions
Homeownership comes with significant tax advantages that can ease your financial burden. Make sure you’re taking full advantage of:
- Mortgage interest deductions
- Property tax write-offs
Not sure if you’re maximizing your deductions? Reach out to a tax professional who can ensure you’re getting all the savings you’re entitled to.
4. Set Goals for 2025 Now
The new year is the perfect time to dream big and set actionable goals. Ask yourself:
- Are you ready to buy your first home?
- Is it time to upgrade to a larger home or downsize to simplify your life?
- Could you pay down your mortgage faster by making biweekly payments or lump-sum contributions?
Your housing goals can shape your financial journey for the better. Planning ahead can make those resolutions a reality!
5. Express Gratitude and Build Community
At DNVR Lending, we’re incredibly grateful for our amazing clients and partners who make our work so rewarding. Your trust and support inspire us to continually provide the best service possible.
We’re excited for 2025 and all that’s to come—new tools, helpful resources, and opportunities to connect with our community. Stay tuned for upcoming DNVR Lending events and updates designed to help you achieve your financial and homeownership dreams.
As you reflect on this year and plan for the next, remember that DNVR Lending is here to support you every step of the way. Let’s make 2025 your best year yet!
Ready to take your next step?
Contact us today to explore your options and set your 2025 goals in motion.
DNVR Lending Blog
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