Tag Archives: Strategies
23 JanMortgage Prepayment Strategy #3 – Bi-Weekly Payment
This is the third post for our Prepayment Strategy Series (check out all the posts in this series). Bi-Weekly Payments The bi-weekly prepayment strategy works for a couple of reasons. Many people are paid bi-weekly so paying the mortgage on the days you get paid makes budgetting easier. But just because it is easier doesn’t [...]
Read More ...08 FebDown Payment or Invest?
If you could pay for a home with cash without getting mortgage financing, would you? Should you? That decision is both an emotional one and a financial one. Let’s look at a recent example… We received a call from a potential customer, referred to us by a real estate agent we work with, who was [...]
Read More ...01 FebCHFA FirstStep NOW Available
On January 28 we first told you about CHFA’s FirstStep and FirstStep Plus programs that were going to be available February 1, 2010. It is now February 1 and we wanted to let you know the details of the program. CHFA FirstStep Through the sale of non-taxable mortgage revenue bonds, CHFA is able to offer [...]
Read More ...08 JanDon’t have a lot of money for down payment?
(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details. The privacy and trust of our customers is our top priority.) I received a call from a customer who was interested in a condo and wanted a maximum monthly payment of $1,000. We’ll call him Gaston (obviously a fictitious name). [...]
Read More ...30 DecGetting Started with a Pre-Qualification
(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details. The privacy and trust of our customers is our top priority.) Bonnie and Clyde (fictional names, of course) called us up the other day to get qualified for a home purchase. Apparently the robbery profession isn’t what it used to [...]
Read More ...30 OctPaying Down Your Mortgage
I am often asked if prepaying on a mortgage loan is best, and if so what method of prepaying is best. Paying off any debt is always a good idea as it increases net worth and eventually alleviates the borrower from paying a large amount of interest, but the priority of paying off a mortgage [...]
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