House-Rich, Cash-Poor in Retirement
My mother owns her home outright, owns a rental property outright, and has a retirement account that I manage for her. I tell her all of the time she is a millionaire on paper. That does not matter to her…
Home Ownership
Why Your Mortgage Rate Doesn’t Move When the Fed Does
I have gotten to the office early my entire working life. First one in, every job I have ever held, because I get a lot done before the world wakes up and I have never needed much sleep. I am…
Debt-to-Income Ratio (DTI): Why Income Alone Isn’t Enough
As I discussed at The Very Basics of a Home Loan, Debt-to-Income (DTI) is one of three important criteria in qualifying for a home loan. Credit Score and the amount you are using as a downpayment are the other critical…
Refinancing the Right Way: When It Builds Wealth—and When It Costs You Thousands
Refinancing the right way is not always as straightforward as it sounds. Over the years I have witnessed so many friends refinance for all the wrong reasons. There are certainly times when a home refinance makes financial sense but just…
The Very Basics of A Home Loan
There will be other posts here that go into greater detail behind home loans and the qualification process, but this one is meant to cover the VERY basics. Often, when people came to me to buy their first home, they…
Breaking Down the Mortgage Debate: 15-Year vs. 30-Year
Much of this site is about helping you save money and build long-term wealth. Along those lines, let’s talk about one of the most underrated tools for doing just that: the 15-year mortgage. When people think about buying a home,…
Rent vs Buy: Key Factors to Consider
One of the biggest financial decisions most people make is where they will live. Should you rent, or should you buy a home? Both renting and buying have advantages and disadvantages that will impact your life, lifestyle, and financial future.…
