If you are asking yourself, “Should I refinance my mortgage or buy property now?” you’re smart to consider all your mortgage alternatives. One alternative most people overlook is a balloon payment mortgage. Most people think about fully amortized mortgages. “Fully amortized” simply means that the monthly payments include both interest and principal. And that means […]
Property Investment Loans
Real estate might be a huge part of your net worth. But are you maximizing your properties’ potential? How profitable are your rentals really? How much does it cost you to maintain your home? Should you buy more property or sell? If you have bad credit, how can you get into the real estate market?
This category has posts that will answer all these questions and more.
Should I Pay Off My Mortgage or Refinance?
Are you asking yourself, “Should I pay off my mortgage?” Lots of folks are asking this question right now. Interest rates are so low that some people wonder if it doesn’t make more sense to go the other way and actually borrow more instead. In short, is paying off a mortgage early smart? Here’s an […]
How to Buy a Home and Get “Owner Carry-Back” Financing
This is probably one of the best times to buy a home and get your seller to provide “owner carry-back” financing. Of course to make it work, you must find a seller who: Has equity in the property Doesn’t need to invest all the equity into another property Typically the people who qualify are those […]
How to Improve Your Credit Score to Buy a House – 4 Easy Action Tips
You are smart if you are looking for ways to improve your credit score to buy a house. A higher score means a lower interest rate. And since your mortgage is probably the most debt you’ll ever have, even a small interest rate cut will save you truckloads of money over the life of the […]
Walking Away from a Mortgage – Is It Ever Smart?
Is walking away from a mortgage ever a good move? I just had tea with a friend of mine, Sharon. She owes $100,000 more on her home than it’s worth. On top of that, she works for a company that is going through tough times, and she’s worried about getting fired and then having to […]
How to Reduce Your Mortgage Insurance Premium
In general, private mortgage insurance is required any time a mortgage exceeds 80% of the value of the home, as determined by the lower of the appraised value or the purchase price. In most cases, in order to remove the coverage you will need to pay the mortgage down to certain pre-determined levels. Automatic provisions […]