FHA Loans 101

An FHA loan is one of the tools available if you want to buy a home but don’t have much money for a down payment. I actually bought my home with the help of a FHA loan. However, it is important to consider the pros and cons of a FHA loan before jumping in. What [...]

401k Loans 101

If you’ve been setting investing goals and decided your 401k was a good place to invest your money then you probably have some money built up in your retirement account.  What if you discover you need that money you’ve been putting aside before retirement? You may be able to take a 401k loan, where you [...]

Buy a House Without Making Big Money Mistakes

Buying a house involves making lots of decisions, many of which are daunting because of the high cost of real estate. I spent 20 minutes on the phone with a friend of mine this morning talking through various options and considerations for selling his home and buying a house in our area.  I could hear the [...]

5 Ways to Pay Off Your House Early

Paying off your house is probably something that you’d love to do but like many of us you don’t have the funds to make it happen.  Today we’ll look at five ways that you can make a dent in the amount you owe on your home loan and pay off your mortgage early.  Paying it [...]

30 Year Mortgage vs 15 Year Mortgage

“Would you like a fifteen year or a thirty year mortgage”? You are sitting in a tiny chair with an anxious mortgage broker staring back at you, visibly impatient and waiting for an answer. For you it’s a major decision, but to the broker your just another customer in a long day at work. So, [...]

How to Use a Mortgage Calculator to Compare Home Loans

A mortgage calculator can be a great way to screen the home loans available to you online.  The nice thing about a good mortgage calculator is that it lets you quickly compare loans and gives you a snapshot of the costs you’ll have to pay. Mortgage rates are pretty low these days but not all [...]

How to Spend Money You Don’t Have

If you’ve ever bought a car or a house then you’ve probably spent money that you didn’t have.  Or if you have a credit card you might have paid for something without having the funds to back it up. A hundred years ago, or even several decades ago, it was pretty difficult to buy something [...]

Reverse Mortgages 101

Reverse mortgages have gained popularity in recent years among people in the retirement phase of their life. Reverse mortgages are attractive to retirees living on fixed incomes because they don’t have to make any payments while they’re living in their house. However, it is important to remember that although you’re not making payments a reverse mortgage is [...]

Home Equity Loans vs Home Equity Lines of Credit

Your home equity is the market value of your property minus the amount you own on your home loan.  Home equity is typically built up over time through your principal payments and real estate appreciation.  During periods when home prices are appreciating quickly your home equity will likely increase but in years when the market is [...]

Mortgage Refinancing Mistakes

Mortgage Refinancing Pitfalls Thinking about mortgage refinancing?  You’re not alone, with some of the best mortgage rates available in history many people are debating whether they should spend the money and refinance.  The benefit of refinancing comes from borrowing at a lower mortgage rate so you can either lower your payments or reduce your loan term, either way saving [...]

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