Showing by category: Mortgages

The current pandemic and corresponding economic crisis has many people concerned about their financial strength and durability for the long haul. If you have equity in your home, you might consider doing a home refinance either to withdraw cash or to spread the remaining balance out and lower your p Continue Reading
Government Insured Loans: What You Should Know
Buying a house is a big decision. Not only will you probably be committing yourself to spending more money on one single item than you ever will again. You'll probably also be writing a check for it over and over again each month for more than a third of your life! It's a big responsibility. Houses Continue Reading
Mortgage Matters: Making the Right Choices on a Big Investment
A home loan is arguably one of the most important investments you will ever make. For many people, a mortgage matters and is #1 expense. In fact, US household debt surveys (Center for Microeconomic Data at the Federal Reserve Bank Of New York) reveal the following breakdown of the average debt burde Continue Reading
Obtaining Financing For Your Home – What Are the Pros And Cons
Are you getting ready to embark on the journey of home ownership? If you?ve already scoped out the home of your dreams, congratulations! The next step will be paying for it. Numerous factors, including your credit score and how much money you have to put down on the home, will determine if you can g Continue Reading
How to Pay for Your Retirement Home
Ah retirement, the time when you can walk away from your job and never look back.? Why not?? You?ve worked for 30-years or more and you have earned the right to enjoy your retirement.? However, there is one wrinkle when it comes to retirement which is how to pay for your retirement home.? Well, fear Continue Reading
Why Paying Off Your Mortgage Isn’t Always the Best Strategy
This is something of a controversial topic. Ask just about anyone in the personal finance arena, and most will tell you that you need to pay off your mortgage as soon as possible. The basic concept is enabling yourself to live "rent free", so you'll have more money for everything else. It's hard to Continue Reading
The 3% Down Payment Mortgage Is Back – But Don’t Take It
The mortgage authorities are at it again ? resurrecting the 3% down payment mortgage. But just because it?s out there and being offered doesn't mean you should take it. How the 3% Down Payment Mortgage 2016 Edition Works The news of the return of the 3% down payment mortgage, or 97% conven Continue Reading
Five Reasons the 30 Year Mortgage Beats the 15
I?m one of the rare examples of personal finance bloggers who thinks the 30 year mortgage beats the 15 year loan for most homeowners. Yes, there are advantages to paying off your mortgage in half as much time, but you still have to deal with the effects of a higher house payment for 15 years, and t Continue Reading
Adjustable Rate Mortgages ? You?re Kidding Right?
Are people still taking adjustable rate mortgages, or ARMs? Apparently so. An article came out last week extolling the virtues of ARM loans.?The article states, among other things, that ARMs may be an ?even better deal than fixed mortgages", the spread between ARMs and fixed rates are the widest in Continue Reading
Is Now a Good Time to Refinance?
Rates for fixed rate mortgages are below 4% for a 30 year loan, and down close to 3% for 15 year loans. So is now a good time to refinance? Maybe. And only maybe. If you have an adjustable rate mortgage (ARM), a funky ALT-A, a variable home equity line of credit that can be consolidated, or most Continue Reading