5 Reasons Never to Pay Off a Mortgage Early (and 1 Reason You Must)

Whether to pay off a mortgage early is an important decision. For some it’s a question of whether to allocate some extra cash each month to the mortgage. For others it’s a question of whether to pay off the home loan all at once. The lump sum approach often becomes an option from an inheritance […]

Published or Updated: September 28, 2015

DR 139: 3% Mortgages Are Back – Is This a Good Thing?

The 3% mortgage is back. After years of turmoil in the housing market and recriminations on whose to blame, the low down payment mortgage has surfaced again. The 3% mortgage will mean more flexibility for homebuyers, and in some cases, for those looking to refinance as well. Until now, borrowers had a choice between conventional […]

Published or Updated: December 17, 2014

DR 108: Should You Pay Off Your Mortgage or Invest for Retirement?

Imagine you’ve just inherited some money. The amount just happens to match the outstanding balance on your mortgage. Now you have a decision. Do you pay off the mortgage or invest the money for retirement. That’s the question facing a podcast listener named Shelly. Here is her email to me: Great job on your podcasts. […]

Published or Updated: September 23, 2014

Reader Question: Does Applying for a Balance Transfer Card Hurt Your Credit?

A podcast listener named Jennifer emailed me about balance transfer credit cards and her credit score. She plans to apply for a home equity line of credit soon and is concerned that getting a card before then could lower her FICO score. Here’s Jennifer’s email: I have started listening to your 31 day money challenge […]

Published or Updated: September 18, 2014

DR 095: 5 Places To Keep Your Down Payment When Saving to Buy a Home

Photo: Phil Romans Saving to buy a home is both exciting and overwhelming. When my wife and I were saving to buy our first home, I thought we’d never have enough for the down payment. But somehow we came up with the money. One of the keys to our success was saving the cash in […]

Published or Updated: December 9, 2014

DR 059: Should You Rent a Home or Buy One?

Is renting or buying a home better? How do you determine which is right for you? Is there a basic rule of thumb you can use to make this decision? A reader named Joe recently wrote in asking if it’s better for him to rent or buy. This is a timely question, and it’s one […]

Published or Updated: May 1, 2014

The Best Online Mortgage Calculator. . You won’t believe what it can do

There are an endless supply of online mortgage calculators. Most of the big personal finance sites have. The best one, in my opinion, is one you’ve probably never heard of: Karl’s Mortgage Calculator. You’re probably asking who the heck is Karl? I have absolutely no idea. Well, that’s not entirely true. I’ve emailed Karl from […]

Published or Updated: March 24, 2014

6 Mortgage Tips Every Future Homeowner Should Know

This is the twenty-ninth day in our 31-Day Money Challenge. Over 31 days we’ll publish 31 podcasts, each designed to help you move closer to financial freedom. Yesterday we looked at an how one couple built a 6-figure eCommerce business in under a year.. In today’s podcast, we cover the basics of mortgages. Sponsors: The […]

Published or Updated: September 28, 2015

Low Down Payment Mortgages are Back

Shortly after the mortgage crash in 2008, popular low- and no-down payment mortgage options vanished from most of the market. The Federal Housing Administration was left to take on the homebuyers who couldn’t afford to put down a lot of money, many of whom were lower income or buying a home for the first time. […]

Published or Updated: November 20, 2013

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