Should You Pay Loan Discount Points or Not?

When an aspiring homeowner applies for a mortgage to finance the purchase of a home of their own they are confronted with a great many decisions. Decisions they may not be equipped to answer without professional guidance. One of those decisions is whether or not to pay loan discount points to secure a lower interest Read More >

What are Loan Discount Points and Why Do Lenders Charge Them?

The mortgage industry, like any other industry, has its own unique terminology that no dictionary or thesaurus can help you with. Among those unique terms are the words “Loan Discount Points,” and not understanding what they are and the role they play in a purchase or refinance transaction can have a significant impact Read More >

The Tax Deductibility of Mortgage Insurance Receives Another Stay of Execution

On December 18, 2015, as part of the Protecting Americans from Tax Hikes (PATH) Act of 2015, the President signed legislation that retroactively renews the tax deductibility of mortgage insurance (MI) premiums for qualified borrowers through 2016. The deductibility is effective for purchase and refinance Read More >

What Does the Fed Rate Hike Mean to Mortgage Rates?

On Wednesday, December 16th, the Federal Reserve (a.k.a. the Fed), in a long-anticipated and long-overdue move, finally raised its benchmark interest rate, the Fed Funds Rate, for the first time in almost a decade. While the Fed only raised the Fed Funds Rate 0.25%, the markets received the news with mixed Read More >

The 6 Biggest Mistakes People Make When Paying Off Debt

There are three primary types of debt available today: 1) Revolving, 2) Installment, and 3) Mortgage. Revolving debt is the most costly type of debt and is typically made up of credit cards, which allow you to use someone else’s money, pay down the balance, and use that money again. Installment debt is typically a Read More >

6 Outside the Box Methods to Get Out of Debt

Last week I wrote a post about ways a homeowner can use the equity in their home to consolidate and transfer their credit card debt to a more efficient method of financing. But not everybody owns a house and not everybody that owns a house has enough equity to allow them to utilize that strategy. This week I want to Read More >