Mortgage Tips

Simple mortgage tips to help you better prepare for the mortgage process and ideally save money on your mortgage.

Should You Pay Off Your Mortgage Before Retirement?

Should You Pay Off Your Mortgage Before Retirement?
June 13, 2018 No Comments »

If you speak to any financial planners or so-called experts on the matter, they’ll probably say, “Yes, pay off your mortgage before you retire.” But is it fair to make the same conclusion for all individuals? Probably not. And times ... Read More »

Look for a Mortgage Before You Search for a Home

Look for a Mortgage Before You Search for a Home
May 29, 2018 No Comments »

While it might look and sound counterintuitive at first glance, it could actually make perfect sense. Instead of assuming that home loan financing is just a cumbersome, yet mostly guaranteed step toward the American Dream, understand that it will dictate ... Read More »

Mortgage Rates Vary by Lender, So Shop Around

Mortgage Rates Vary by Lender, So Shop Around
April 18, 2018 No Comments »

While mortgages are largely a commoditized product, unlike perhaps a TV or a smartphone with unique technology, their cost can still vary considerably by lender. The reason mortgage rates are different across banks and lenders could be a result of ... Read More »

Getting a Mortgage on a Duplex, Triplex, or Fourplex

Getting a Mortgage on a Duplex, Triplex, or Fourplex
April 4, 2018 No Comments »

One trend I’ve been seeing lately is buying a multi-unit property, such as a duplex, and renting out one unit while living in the other. The cool kids are referring to this as “house hacking” because you essentially get someone ... Read More »

How to Move Out of Your Parents House

How to Move Out of Your Parents House
March 28, 2018 No Comments »

There’s nothing inherently wrong with living with your parents, other than EVERYTHING! So let’s talk about how to GET OUT! To be clear, I’m going to discuss moving out and buying a place of your own, not moving out and ... Read More »

Condo vs. Townhouse: Why It Matters

Condo vs. Townhouse: Why It Matters
March 27, 2018 1 Comment »

It’s been a while since I’ve done a matchup, so let’s talk about an important one if you’re in the market to buy real estate. Today, we’ll breakdown the similarities and differences of a condo vs. townhouse. First things first, ... Read More »

What Is a 3/1 ARM?

What Is a 3/1 ARM?
March 22, 2018 No Comments »

If you haven’t been feeling 30-year mortgage rates recently, maybe an ARM might suit you better, especially if you don’t plan to stay in your home for a very long time. There are a variety of adjustable-rate mortgages available to ... Read More »

What Does It Mean to Be House Poor?

What Does It Mean to Be House Poor?
March 14, 2018 No Comments »

If you’re an existing homeowner or an aspiring one, you may have heard the phrase “house poor,” typically uttered by an overextended borrower. It may also serve as a warning to a first-time home buyer. First, let’s define what it ... Read More »

What Is a Letter of Explanation?

What Is a Letter of Explanation?
March 12, 2018 No Comments »

Mortgage Q&A series: “What is a letter of explanation?” If you’re currently going through the joyful process of obtaining a home loan, you may have been asked to furnish a “letter of explanation” or LOE to provide a little more ... Read More »

What Is a Gift Letter for a Mortgage?

What Is a Gift Letter for a Mortgage?
March 5, 2018 No Comments »

Mortgage Q&A: “What is a gift letter?” A reader recently inquired about mortgage gift letters, so instead of simply answering their question, I figured I’d write an entire post on the subject to help others better understand this topic. If ... Read More »