It has become commonplace to pay loan discount points when obtaining a mortgage these days in an effort to secure the lowest interest rate possible. While I don’t often advise paying discount points because it is rarely in the client’s best interest, the good news is that if you decide to pay points, any points you pay Read More >
Should You Pay Loan Discount Points or Not?
Posted on: 02.04.16
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?
Posted on: 01.28.16
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 >
A Simple Formula For Getting Out of Debt
Posted on: 01.21.16
Credit card debt represents the single biggest threat to the financial health of countless millions of Americans. According to the Federal Reserve, after peaking at $1.021 Trillion in April 2008, the global financial crisis motivated Americans to trim their credit card debt to $832.4 Billion by April 2011. Since then, Read More >
The Tax Deductibility of Mortgage Insurance Receives Another Stay of Execution
Posted on: 01.05.16
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?
Posted on: 12.22.15
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 >