Lower rates on mortgage loans not only help you amortize your loan faster you will also have a lower monthly payment. A $250,000 mortgage at 4.5% for 30 years will have a $1,266.71 combined monthly payment. At 4%, the same loan will have $1,193.54 combined monthly payment saving you $73.18 a month and at the […]
The determining factor for what type of property you have is not in how it looks but rather in your intent for use. Based on your intentions, a property you own can be a principal residence, an income property, an investment property or a dealer property. Let’s look at the definition of each. Principal Residence […]
As you prepare to file your 2019 taxes, it is important to note that the standard deduction for 2019 was raised to $12,200 for single taxpayers and $24,400 for married filing jointly. Married filing separately pays the same as single. As you work through your taxes, whether by professional or by tax program on your […]
If you invest in or have a company-sponsored 401k, 403b or have a life insurance policy, you may know that you can borrow funds against these sources. Alternatively, you cannot borrow against the funds in a traditional or Roth IRA without incurring a 10 percent penalty before 59 ½ unless you use it for one […]
When purchasing a home, the largest expenditure you will have is the down payment. This payment can range from zero, if you are a veteran, to 3.5, 5, 10 and even 20 percent. When you get a mortgage, you will also get closing costs which will add another 2-4 percent that must be paid in […]
Do you desire an investment that will turn your $10,000 into $80,000 in seven years? Wait, is this too good to be true? AND, you can live in it every day for the next seven years! Will that make it even better? Today, if you purchased a $300,000 home with an FHA loan it would […]
Some people just want a home. No justification needed; you don’t have to convince them they will just buy one. On the other hand, some people need you to provide some logic as to why they need to buy a home before they make a commitment. Fair enough, it is one of the largest purchases […]
Knowing how much you can afford before looking for a home is ideal. You may have a golden number in your head but a lender will have the final say. If you secure a pre-approval from a lender ahead of time it makes the whole buying process much easier and avoids delays. It is easy […]
Realtors® always seem to think that right now is a good time to buy and they usually have good reasons why. But being a good time to buy doesn’t just rely on market conditions, loan rates or economic factors. It has more to do with individuals than anything else. Here are four factors to consider. […]
On occasion, buyers who are prepared and qualify to buy a home decide to take a step back and wait to commit to the purchase of a home. When their focus moves from buying a home, they start considering using their down payment money for other things. They begin to think about other large purchases […]
