6 Steps To Pay Off Your Mortgage Early Should you pay off your mortgage early? It’s a question personal finance experts have been debating for years. Some say it makes financial sense to invest that money in the stock market, while others say you won’t ever regret being 100% debt free. I have been focused on both; maximize your investments in the stock market and overpay my mortgage every month. Pay yourself first.
More homeowners becoming landlords More and more people are moving up to a new home and instead of selling their former residence, they’re renting them out. This is a great way to secure passive income; you get to increase the rental rates annually, usually by the cost-of-living adjustments at a minimum and your tenant is (hopefully) paying your monthly expenses on the home. As you move towards retirement, this is a great way to get passive income, especially if you have the house completely paid off. This may be a great idea, but it’s not for me. I don’t want the headaches of being a landlord. Is it for you?
How To Qualify For A Mortgage If You’re Self-Employed In today’s marketplace, it’s harder to secure a loan than it was just a few years ago. Lenders’ requirements are government regulations have made it tougher to get a loan. It’s even harder for those who are self-employed. This article offers excellent tips on how to secure a loan if you are self-employed.
Mortgage Rates: 2 Simple Charts Prove That Now Is an Exceptional Time to Buy a Home Yes, this is still an excellent time to buy a home. If you’re wondering whether this summer is a smart time to buy a home, then let me cut to the chase. Thanks to still-historically low mortgage rates, housing may never again be as affordable as it is right now. At present, the interest rate on a 30-year fixed rate mortgage is 4.19%. That’s the cheapest they’ve been all year, and they even recently dipped below half the long-run average of 8.52%.
Mortgage volume tanks on tiny rate rise Regardless as to whether it’s a good time to buy a home or not, due to a slight uptick in mortgage interest rates, the number of new applications declined.