Are you about to payoff your mortgage? Congratulations! There are some important mortgage payoff fees, documents, and procedures to know. Unfortunately, you don’t just send your final payment and that’s it. You’ve got to go through some hoops. In 2015, I finally paid off the mortgage of the very first property I bought in 2003. […]
Mortgage Payoff Fees And Procedures To Know Read More »
Before you submit a real estate offer, you should be already preapproved for a mortgage. Getting preapproved for a mortgage is now the bare minimum in a strong real estate market where bidding wars are common. Sellers won’t want to waste their time with potential buyers who are not preapproved. During a soft real estate
How To Get Preapproved For A Mortgage And Why It’s So Important Read More »
If you want to pay all cash for a property but don’t have all cash, one way is through a no-financing contingency offer. A no-financing contingency offer is a way to pay all cash for a property without actually having all cash. From the buyer’s point of view, making a no-financing contingency offer is like
In early 2005, at the age of 28, I took out a $1,220,000 mortgage to buy a $1,523,000 house in San Francisco. After having bought a modest condo a couple of years earlier, I wanted to go all-in. In retrospect, this was a crazy amount of debt to take on at that age. When the
No Mortgage More Courage: Pay Off All Debt Before Retiring Read More »
For most people, an adjustable rate mortgage is better than a 30-year fixed-rate mortgage. With an adjustable-rate mortgage, you will likely save more money during the duration of your ownership. Even in a rising interest rate environment, an ARM will likely still save you money in the end because rates will eventually go back down.
Why An Adjustable-Rate Mortgage Is Better Than A 30-Year Fixed-Rate Mortgage Read More »
Are you selling a property and nervous about the process? If your local real estate market supports it, only accept all cash offers in order to maximize profits and happiness. Once a mortgage is involved, things can get really hairy due to financing contingencies. A buyer is at the mercy of the bank’s decision to
Property Sellers: Only Accept All Cash Offers To Maximize Profits And Happiness Read More »
You know how you see oil prices drop precipitously on the news, yet when you get the gas station to save some money, you’re disappointed because gas prices haven’t gotten much cheaper? The same thing happens with US Treasury yields (oil) and mortgage interest rates (gas). Mortgage rates are largely influenced by the latest 10-year
Why Mortgage Rates Don’t Drop As Quickly As Treasury Yields Read More »
A cash-out mortgage refinance lets you borrow more than you currently owe and keep the difference as cash. It’s one way to unlock the equity in your house. However, doing a cash-out refinance to buy stocks is not a good idea. You could lose a lot of money in a bear market. Instead of doing
Cash-out Refinance To Buy Stocks? Not A Good Idea Read More »
I’m on a mission to help encourage as many people to refinance in American as possible. I get nothing in return, just the satisfaction of trying to help others save money. Lots of people have mortgages, but most people are not a rate hawk like me. Thus, I’m here to give you a nice kick
On A Mission To Refinance In America Read More »
The mortgage interest deduction limit has decreased since the new Tax Cut & Jobs Act was passed in 2018. In the past, you could deduct mortgage interested on up to $1 million in mortgage indebtedness. According to the IRS, as of 2025, you can deduct mortgage interest on up to $750,000 of qualified home loans
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