Q&A
Asked by Tony
Answered by Charles Sizemore
CFA in Dallas, TX
Hi Tony, While I do not expect the government to eliminate the mortgage deduction, it should really be a moot point. If you can only afford the house in question w...
Q&A
Asked by Katie
Answered by Nic Netherton
Mortgage Professional in Fort Collins, CO
Two advantages. The first being you pay off your house faster, the second is that shorter term loans generally have lower interest rates than 30 year mortgages.
Q&A
Asked by Gina
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
It's all about a cost/benefit analysis for your particular loan, rather than a "refi if your rate drops by 1%" or other general "rule of thumb". It may not pay to ref...
Q&A
Asked by Martha
Answered by Kim Miller PRO+
CFP® in Redmond, WA
Good question. You may actually gain tax benefits by renting out a home. You can deduct some of the same expenses on a rental property as you do now: property taxes...
Q&A
Asked by Kathleen
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
Having liquid (cash or cash equivalent) funds available after closing is always preferable to tying up your funds in the new home. If the water heater breaks, the AC ...
Q&A
Asked by Erin
Answered by James Talbot
Mortgage Professional in Metairie, LA
Erin, Yes, thankfully they are. There was a time just after the market meltdown when they weren’t but eventually the market eased up and started allowing them agai...
Q&A
Asked by Katie
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
This depends on a couple of factors. One: Is the tax bracket you are in, can you deduct the mortgage interest if you got a mortgage? Two: What rate of return ca...
Q&A
Asked by Joseph
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
Hi Joseph. There's several areas to consider here. Was this home listed on the MLS? Did you have a buyers' agent, and if so, did he/she do a CMA (Comparable Market ...
Q&A
Asked by Michael
Answered by Dimitrios Gikas
Mortgage Professional in Westlake, OH
The fixed or adjustable question depends on your goals and risk tolerance. A big question to answer is: "How long will you live in the house?" If you know goin...
Q&A
Asked by Erin
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
It's important to realize the distinction between a mortgage lender/bank and a mortgage broker. Brokers write loans, send to the actual lenders for approval (in most ...
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