A 30-year loan has lower monthly payments than a 15-year loan. See why investing the difference in monthly payments doesn’t pay off for a long time.
The largest cost of owning a home free-and-clear is the opportunity cost of the money tied down to the home. Full cost of housing includes both cash expenses and the opportunity cost.
If you are paying extra toward your mortgage, does it matter which day you make the extra principal payment within a month?
Your home does not know you have a mortgage.
The final answer on whether loan payments are savings or an expense.
Rates on home equity loans vary greatly from bank to bank. You have to know where to go for the best rates.
What should you consider if you are thinking of buying a home in the San Francisco Bay Area now?
Homebuyer survey results show that no everyone is buying a home for the right reasons.
I had a good chuckle while reading this epic discussion thread on the Bogleheads Investment Forum: Does a home mortgage use Simple or Compound Interest? It sounds a like factual question, as in "Is Miami located to the north or south of Boston?" The answer shouldn’t be ambiguous or subject to opinion or interpretation. You […]
I received an interesting offer in the mail from my credit union. It’s for a savings secured loan. The credit union offers to give me a loan if I pledge an equal amount in my savings account as collateral for the loan. If I pledge $10,000, they will lend me $10,000. If I pledge $50,000, […]
Paying a 30-year mortgage on a 15-year schedule costs a lot more than getting a straight 15-year mortgage.
A reader asked me about refinancing a mortgage. I gave him my usual spiel about getting a no cost refinance, stepping down the ladder, etc. I also gave him the short list of lenders I shop from: First IB, NMA, and AmeriSave. He came back to me saying he couldn’t get a no cost refi […]