Saturday Strategy
Mortgage FAQ's, did you knows and much more...
Special Report: Top 3 Risks to Interest Rates in 2022 – Will interest rates go up or down this year?
1 INFLATION Bonds across the world are trading at negative yields relative to inflation. For example, if a bond investor is earning 2% and the inflation rate is 5%, the investor is losing 3%. At some point, it seems likely that bond investors may demand higher yields in order to account for higher inflation. This…
Did Your Dream Home Just Come on the Market?
Kevin Brierton – 3.17.2022 For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly…
Are You Wondering if This Is the Year To Buy a Home?
Kevin Brierton – 3.16.2022 Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents…
Don’t Get Caught Off Guard by Closing Costs
Kevin Brierton – 3.15.2022 As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re…
Which Home Improvement Projects Are Most Likely to Increase Your Home Value?
According to two recent studies on this topic, here are the top home improvement projects that are likely to add the most value to your home: 1 – Landscape improvement 2 – Bathroom improvement 3 – Kitchen improvement 4 – New roof 5 – New windows 6 – New garage door 7 – New siding…
Tax Deductible Items for 2021 Mortgages
Congratulations on your mortgage closing! Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2021 tax returns (the return you’ll file by April 2022). NOTE: These items are only deductible if you itemize. They do not apply if you take the standard deduction.…
Two Ways to Be More Strategic With Your Credit
Your length of credit history looks at how long your accounts have been opened. This has a 15% impact on your score. The longer your accounts have been opened, the higher your score will be; newly opened accounts will bring your score down. Here are three practical steps for you to improve your score in…
Should You Cash-out Your Home Equity to Buy a Vacation Home?
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…
Cost of Waiting to Buy $30,000 Mistake
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…
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