When people are looking for a home, this is an exciting process. There is always something fun about looking at potential homes and envisioning a future there. This is a big decision. At the same time, it is just as important for people to think about how much of their money they should be spending on their mortgage. There are a few rules of thumb that people should keep in mind. The 28 Percent Rule One of the most common rules that financial advisors and lenders are going to talk about is … [Read more...]
What’s Ahead For Mortgage Rates This Week – November 23, 2020
Last week’s economic reporting included readings on housing market conditions, sales of previously owned homes, and housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also released. NAHB: Homebuilder Confidence Hits Record High in November The National Association of Home Builders reported a fourth consecutive record high for builder confidence as November’s index reading of 90 exceeded October’s reading of 80. Any reading over … [Read more...]
First Time Buyers: Understanding How Property Taxes Work and What You Can Expect to Pay
Are you about to buy a house or condo for the first time? Congratulations! Owning your own piece of real estate is a liberating experience and one that will provide you with the foundation to build your personal wealth and equity. Once you own your own home you'll be responsible for a variety of new costs, including property taxes which are assessed by your local government to pay for municipal services. In this blog post we'll share how property taxes work and what you can expect to pay when … [Read more...]
The Ultimate Payoff: Getting Debt Free Before Retirement
For many people, reaching retirement is something to look forward to. At the same time, too many people still have a lot of debt by the time they retire. In order for people to really take advantage of everything that retirement has to offer, they should try to find a way to pay off all of their debt before they retire. In order to make sure this happens, there are a few tips that everyone has to keep in mind. Try To Keep Housing Costs Low First, it is important for everyone to try to keep their … [Read more...]
