Saturday Strategy

Mortgage FAQ, Did you knows and much more!

What is an Equity Transition Plan & how can it help you?

P.S. Do you know someone looking to buy, sell or refinance a home that needs an Equity Transition plan?  We'd love to! You can just text/call me at 480.553.8770.

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A brown house sitting on top of the floor.

Should You Cash-out Your Home Equity to Buy a Vacation Home?

By Kevin Brierton Team | February 8, 2022

The main problem with cashing out the equity in your primary home to buy a vacation home is that you lose the tax deduction on the mortgage. Mortgage interest is only deductible if you itemize your tax deductions AND if the mortgage proceeds are used to buy, build or improve a “qualified residenceâ€. Here’s the…

A bar graph showing the cost of walking on 0. 5 % increase in mortgage rates

Cost of Waiting to Buy $30,000 Mistake

By Kevin Brierton Team | February 8, 2022

Just one year of waiting to buy a house could cost you tens of thousands of dollars (see charts). For example, a homebuyer considering a $250,000 home would lose $7,500 if home prices increase by 3% during that one year timeframe.  They would lose an additional $21,391 over the life of a $200,000 mortgage if…

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!