If you are approaching your golden years and seeking a bit of financial flexibility, you might want to look at a reverse mortgage. This unique financial product is only open to individuals over 62 years of age. It allows you to convert some of your home's equity into cash which you can use as needed in your retirement. Of course, a reverse mortgage isn't without its costs. Let's explore the fees that you will encounter when you take out a reverse mortgage loan. Upfront And Pre-Closing Costs The … [Read more...]
The Quick and Easy Guide to Determining How Big of a Mortgage Your Family Can Afford
Are you shopping around for a new house or apartment? One of the key considerations you will need to make is figuring out how much you want to invest in your new home. Below you'll find our quick and easy guide to determining just how much "house" you can afford. Let's get started! Start By Making A Proper Budget The first thing you'll want to do is sit down and get a full budget put together. The easiest way to get the process started is to begin with two lists: income and expenses. For the … [Read more...]
3 Reasons to Hit the Accelerator on Your Mortgage Payments – If You Can Afford It
Does the thought of repaying your mortgage for the next twenty-plus years leave you feeling a little down? Whether you've had your mortgage for weeks or years, accelerating your payments is an excellent option that can help get your mortgage fully paid off in a shorter time frame. Let's explore three great reasons to accelerate your payments so that your mortgage debt is paid down faster. You'll Be Debt-Free That Much Faster It may seem obvious, but it's worth stating that you'll be debt-free … [Read more...]
Thinking About a New Home? 3 Reasons Why a Mortgage Will Be the Best Money You Ever Borrow
In these days of low interest rates, it can be a great idea to get into the real estate market and invest in a home. However, if you don't have the funds saved up to buy a home outright, it may seem like more of a burden than it's worth. The good news is that you might qualify for a mortgage loan, which tends to come with more favorable terms than a traditional bank loan. Here are three reasons why a mortgage might just be the best money you ever borrow. Taking Advantage Of Low Interest Interest … [Read more...]
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