Recasting your mortgage is a great option now that rates are higher. “Should I refinance or recast my mortgage?” I receive this question all the time. Today I’m explaining the difference between refinancing and recasting, and which option is best for you. Let’s say you get a nice windfall, either from a relative passing or […]
Why doubling your first payment doesn’t make a huge difference. Today’s question comes from Jose, who asks if it’s a good idea to double the first monthly payment on a 30-year mortgage. He also asks if that strategy is supposed to knock two years off the mortgage. The simple answer is no. Making that […]
Here’s the information you need to make an informed home-buying decision. Should you wait to buy? That’s the question I’m exploring today. I’ll offer my thoughts, predictions about the market, and what you should know if you’re a prospective homebuyer. Feel free to watch the full video or use these timestamps to browse specific […]
Remember that you can refinance out of your FHA loan as you gain equity. Let’s talk a bit about FHA loans today. A viewer of ours is looking to refinance their FHA loan to a conventional loan. Home values went up so much that they have enough equity to remove their private mortgage insurance. […]
How you should prepare if the market were to drop… I was recently asked what the options are to get out of a $500,000 house if the market crashes, so today I’m clearing a few things up. First, nothing indicates that a crash is on the horizon anytime soon. With that, let’s take this hypothetical […]
