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. Hou… Continue Reading

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

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… Continue Reading

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… Continue Reading

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 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% co… Continue Reading

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… Continue Reading

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 … Continue Reading

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

If you’ve been thinking about either buying a house, or refinancing your current mortgage, there may be no time like the present. According to Bankrate.com, 30 year fixed rate mortgages can be had at rates below 4% with no points. That’s just a fraction above the record low mortgage rates that w… Continue Reading