Money Saving Tips for Home Buyers & Owners

4 Tips to Get Your Finances in Order in 2019

One of the most common New Year’s Resolutions is to get on track financially for 2019. As holiday bills start coming in and everyone gets back to their everyday schedule, many start to refocus for the coming year. One of the best ways to get on track and get your finances in order for 2019 is to have a plan. Set aside some time to write down your goals and how you’re going to achieve them. By following these four simple steps, 2019 will end on a much better financial note than 2018.

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How to Use a Debt Consolidation Mortgage to Save For Your Kids’ College

It’s no secret the cost of attending college has become more and more expensive over recent years. Tuition costs and a whole host of other fees must be accounted for and, for many, paying for college with high-cost student loans is the only option. But for homeowners, there’s another way to help defray the cost of higher education. You can use a debt consolidation mortgage to save for your kids’ college by leveraging the equity in your home.

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How You Can Pay Off Your Home Sooner with a Debt Consolidation Mortgage

There’s no doubt that your mortgage is likely your biggest credit obligation. That also typically means stretching that loan over as long a period as possible to keep your monthly payments low. The most common loan term today by far is 30 years, and while that provides a lower monthly payment compared to, say, a 15 year mortgage, it can also linger into your retirement years. One goal all of us should have is to get into retirement as debt free as possible and this includes all credit obligations. Being able to pay off your mortgage with debt consolidation means making less payment, paying less interest, and going into retirement with less worry.

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How to Pay Off Debt and Save For Retirement

As you age, planning for retirement becomes more important with each passing year. For those who are dedicated to having enough cash on hand to cover housing and living expenses after retiring from the workforce, saving money while employed is what builds the nest egg. But if you have outstanding debt, you may be wondering how to pay off debt and save for retirement. Fortunately, there is a way to do both at the same time using a debt consolidation mortgage.

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How Much Does It Cost to Refinance My Mortgage?

If you’re thinking about refinancing your mortgage, typically the main consideration is the interest rate. Maybe interest rates have fallen since your loan was first approved and funded, so getting a lower rate may make sense to save on interest. Other valid reasons to refinance might be to get out of the uncertainty of an adjustable rate mortgage and into the stability of a fixed rate mortgage. Or, you might decide to refinance to a different term and change the monthly payment amount. Whatever the motivation to refinance, there will be some costs to refinance your mortgage. Understanding the costs of refinancing will help you make the best possible plans.

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What is a Direct Lender and is it Right for You?

Though the types of home loans prospective homeowners can receive are generally the same—conventional or government-backed—the lenders they may choose can vary. As you look for a home loan, you might wonder, what is a direct lender, and which is right for me? Let’s take a closer look.

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Should I Get a 15 Year Mortgage? Here's How to Tell

Buyers soon discover they’ve got more than a few decisions to make when first embarking on a new home purchase. One such consideration is your mortgage. And there are more than a few choices there, too. Homeowners may find themselves asking; Should I get a fixed rate loan or an adjustable? Should I lock in my interest rate or wait? Should I get a 15 year mortgage, 20, or 30? Let’s take a closer look.

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What Credit Score is Needed to Buy a House?

Today, almost every mortgage loan program requires a certain minimum credit score. Credit scores have been used extensively by the mortgage industry since the late 1990s, and are a key factor when a lender reviews a mortgage application. Yet there are a lot of mysteries around credit scores, including how they’re calculated and what effects your credit score can have. What credit score do you really need to buy a house? Will a better credit score make a difference? We’ll explain.

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How Millennials are Using Gift Money for Down Payments

Millennials are currently the largest demographic of home buyers in today’s marketplace, having recently replaced the Baby Boomer generation as the most populous. A recent report from the National Association of Realtors highlights some of the characteristics and some particularly interesting differences between today’s home buyers and those of previous generations. One of these differences is the how Millennials are using gift money for down payments. This trend tells us a lot about the current housing market, not only how prices have changed but also about the challenges that this generation faces.

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Homeowner Tax Credits in 2018: What Tax Reform Means for You

 

You probably remember the Tax Cuts and Jobs Act, or TCJA, introduced and signed nearly a year ago, but if you don’t recall it’s because the new changes haven’t yet come into play. But when it’s time to file your 2018 income taxes next year, there are several changes that will impact your taxes, particularly homeowner tax credits. The mortgage interest deduction is one of the few remaining tax deductions you can still take, but also one of the most popular. There are some changes to this and several other homeowner tax credits in 2018.

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