fbpx

Is 15-Year Mortgage Better Than a 30-Year Mortgage?

Calculate home value

A 30-year fixed-rate mortgage is the most popular option for home purchases. However, you probably have seen some advertisements that encourage you to refinance your 30-year mortgage into a 15-year one. If you are a Dave Ramsey fan, you know that he is against taking out a 30-year loan and encourages you to use cash … Read more Is 15-Year Mortgage Better Than a 30-Year Mortgage?

Real Estate Investing with REITs, Pros and Cons

Calculate home value

Real estate can make an great addition to almost any portfolio. However, few of us have the large amount of capital needed to buy a property, and it can be difficult to get approval for a mortgage. Fortunately, there are alternative investments that allow you to become a real estate investor without having to overcome … Read more Real Estate Investing with REITs, Pros and Cons

How to Get Rid of Your Private Mortgage Insurance

Calculate home value

If you paid less than 20% down payment on your home purchase, you are most likely paying a monthly Private Mortgage Insurance (PMI). The PMI is an insurance policy that protects the lender — not you. If you default on your mortgage, the lender receives payment from the insurer for the loan given to you. … Read more How to Get Rid of Your Private Mortgage Insurance

How to Calculate Rental Property Cash Flow

Calculate home value

As an owner of several rental properties, I strongly believe that your rental property has to generate positive cash flow. Depending on where you are located, finding a positive cash flow rental property might be harder in certain areas. For example, I live in the Washington DC suburb and it is difficult to find good … Read more How to Calculate Rental Property Cash Flow

How to Invest in Real Estate

How to Invest in Real Estate 6

Many investors like the idea of investing in real estate. Real estate has the allure of being considered a tangible asset, and there is the potential for regular income with real estate. Additionally, many investors aren’t comfortable with the traditional makeup of cash, bonds, and stocks, and want to branch out a little — real … Read more How to Invest in Real Estate

Dave Ramsey’s Early Mortgage Pay Off Advice, Good Idea?

Dave Ramsey's Early Mortgage Pay Off Advice, Good Idea? 13

Should You Pay Off Your Mortgage Early? This is a popular question among homeowners. Some people believe paying off the mortgage as fast as possible is better, and some people believe investing the difference is better. In his book The Total Money Makeover, Dave Ramsey’s Baby Step #6 advocates paying off your home loan early. … Read more Dave Ramsey’s Early Mortgage Pay Off Advice, Good Idea?

10 Extra Costs When You Buy a New Construction Home

10 Extra Costs When You Buy a New Construction Home 16

When you purchase a new home, there are a lot of costs that you might not think about. Some of the typical costs of homeownership, in addition to the mortgage payment (principal and interest), include property taxes, homeowner’s insurance, and utilities. However, these are costs that many people expect to pay eventually — even if … Read more 10 Extra Costs When You Buy a New Construction Home

Should You Refinance Your Mortgage? Refinancing Pros and Cons

Calculate home value

Should you refinance your mortgage? The general rule of thumb is if you can reduce your current interest rate by 1% or more, it is worth it to do a mortgage refinance. And many people are happy to follow this rule as long as it lowers their monthly payment or lets them take out some … Read more Should You Refinance Your Mortgage? Refinancing Pros and Cons