Saturday Strategy
Mortgage FAQ's, did you knows and much more...
Beware of Homeowner "Final Notice" Letters... Read the fine print
I recently received a call from a past client who received a letter similar to this one. Unfortunately, I was unable to prevent them from paying for a home warranty they didn't need.
I want to caution you about letters that arrive in the mail and use scare tactics to prompt action. These third-party entities may attempt to sell you unnecessary life insurance, home warranties, or even charge you for a copy of your deed of trust. In this week's Saturday Strategy video, I will share an example of a mailer I recently received.
It is crucial to carefully read the fine print and remember that you can always send us a photo of the mailer to obtain our opinion before taking any action.
P.S. Can I count on you to call us when any friends, family or coworkers are looking to buy, sell or refinance a home? We'd love to help! You can just text/call me at 480.553.8770.
* Did you know we can finance in 45 states?
Homeownership Is Still at the Heart of the American Dream
Kevin Brierton – 1.15.2024 Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist at Zillow: “The American Dream is still…
HOW TO CALCULATE THE AFTER-TAX COST OF YOUR MORTGAGE
Kevin Brierton – 1.15.2024 YOUR COST OF BORROWING MAY BE LOWER THAN YOU THINK Homeowners who itemize tax deductions can deduct the interest on up to $750,000 of mortgage balances used to buy, build, or improve a qualified home. Here’s how to figure out the impact of that tax deduction: WHAT IS YOUR MARGINAL TAX…
WHEN IS MORTGAGE INTEREST TAX DEDUCTIBLE?
Kevin Brierton – 1.12.2024 CONTRARY TO POPULAR BELIEF, MORTGAGE INTEREST IS NOT ALWAYS TAX-DEDUCTIBLE. HERE’S THE INSIDE SCOOP. DO YOU ITEMIZE YOUR TAX DEDUCTIONS? You cannot take the mortgage interest deduction if you are taking the standard deduction. For 2024 tax returns, the standard deduction is $14,600 for single taxpayers, $21,900 for heads of household,…
The Dramatic Impact of Homeownership on Net Worth
Kevin Brierton – 1.11.2024 If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares the net worth of homeowners and renters. The latest report…
Avoid These Common Mistakes After Applying for a Mortgage
Kevin Brierton – 1.10.2024 If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s…
Ways Your Home Equity Can Help You Reach Your Goals
Kevin Brierton – 1.9.2024 If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this: “. . . your home’s equity is the difference between how much your home is worth…
What Lower Mortgage Rates Mean for Your Purchasing Power
Kevin Brierton – 1.8.2024 If you want to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below): This recent trend is…
2023 Housing Market in Review: Looking Back on a Rough Year for Buyers
Kevin Brierton – 1.5.2024 Things are finally turning around for the better as far as housing is concerned – and it looks like they might actually stay that way this time! Mortgage rates have continued to drop over the last couple of weeks, and we are now in the ninth consecutive week of improvement. The…
Why Pre-Approval Is Your Homebuying Game Changer
Kevin Brierton – 1.4.2024 If you’re thinking about buying a home, pre-approval is a crucial part of the process you don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step.…
Thinking About Buying a Home? Ask Yourself These Questions
Kevin Brierton – 1.3.2024 If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, home prices and mortgage…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!