TheStreet’s Post

Maximizing a home down payment can make sense: The bigger the down payment, the lower the monthly mortgage bill and the better the chance of building equity more quickly. But putting too much down could leave you without enough cash for home maintenance or an emergency. How can you find a good balance? 📲813-817-4691 💌tampacasita@gmail.com #casitahomeandliving #tampa #tamparealtor #realestate #homedecor #beachhouse #realestate #investors #love #peace #manifestthatshit #listings #closings

Homeowners with mortgages have $17 trillion in home equity, near a record high, according to CoreLogic. 'Home equity is near a record high. Tapping it may be tricky due to high interest rates'. See more: https://lnkd.in/dbmC9-fm #equity #homeequity #finance #home #yourmoney

For many homeowners, the prospect of being ‘mortgage free’ is appealing. The sense of wellbeing that comes with owning your home outright is powerful. Therefore, it can make sense to overpay your mortgage if you’re able to – either on a monthly basis or by contributing lump sums as and when you can. This can save you a considerable sum in the long run; by eating into your mortgage debt faster, you’ll reduce the amount of interest you pay overall. You could consider investing instead. If you pay the extra money into a pension, for example, you could benefit from tax relief at the rate you pay Income Tax. Plus, a lender may penalise you for overpaying your mortgage, which could negate any financial benefit. On the other hand, overpaying may mean you access a lower rate when you come to remortgage (by reducing the ‘loan to value’ ratio on your property). Plus, investment returns aren’t guaranteed, and there is always a risk that they lose value. Your home may be repossessed if you do not keep up the repaymenst on your mortgage. The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested. The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

High mortgage rates are locking #homeowners into their current properties, making it difficult to sell, and thereby access the equity in your home, without sacrificing low-interest loans. This New York Times article explores the issue in depth. At Aspire HEI, we offer a solution: tap into your home equity for liquidity without selling. Our investment solutions empower you to make the most of your financial opportunities while keeping your mortgage advantages intact. Learn more about how we can help in today's challenging market ⬇ . Visit our website: www.AspireHEI.com Link to article: https://lnkd.in/gq5K5_UP #AspireHEI #RWT #HomeEquity #HomeEquityInvestments #MortgageRates

Many borrowers took out interest only mortgages pre 2007, and are now given very little option to refinance. Trading down is not an option for many, and having to pay the very high SVR adds to the cost of living cost increases. Long term fixed rate mortgages would likely have avoided this strain on borrowers, and potentially offer a solution out of their predicament! The Telegraph Ruby Hinchliffe MPowered Mortgages #longtermfixedratemortgages #housing #svr #affordability https://lnkd.in/emsxXcU3

A reverse mortgage is a unique option for older homeowners that allows you to access the equity in your home. Here are the key features: Eligibility: Available to homeowners aged 55+ with their primary residence. Older homeowners can access even more equity. No Income Requirements: You just need enough income to cover property taxes, any property fees, and insurance. Tax-Free Equity Access: Receive a lump sum or monthly payments from your home’s equity without needing to repay while living in your home. Maintain Ownership: You remain the owner of your home, and payments are optional. You’ll also never owe more than your home’s value. Interest: It’s added to your loan, causing the balance to grow over time. Repayment: Required when you move, sell, or when the last homeowner passes away. A reverse mortgage can also be used to avoid cashing out other investments and to transfer wealth tax-efficiently. Thinking about a reverse mortgage or have questions? Reach out! 📞 604-351-6485 📧 vick@vicksahotamortgages.ca

With a reverse mortgage, you borrow against the equity in your home, freeing up cash. Here’s what that means when it comes to taxes, senior benefits, and interest rates.

We all know that mortgage rates play a vital role in determining the affordability and overall cost of homeownership.🏠 What factors play into how rates are determined? Let's talk about what you can control and the things you can’t! 🔍 Out of your control: Mortgage rates are closely tied to the overall state of the economy.🌐 Economic factors such as monetary policy, inflation, and economic growth help determine the cost of borrowing money for the consumer. 📉💼 What you CAN control: Borrowers with a higher credit score indicate a lower risk to lenders, resulting in a more favorable mortgage rate. 📊💳 Additionally, borrowers with a larger down payment tend to have a lower loan-to-value (LTV) ratio. This measures the mortgage amount compared with the home's value. The lower the LTV, the less risk for lenders which means a lower rate to the borrower. 💰🏠 Have questions or want to know more about rates? Send me a DM! or call me Luis R Carranza at 619-972-6144. I'm happy to answer your questions! 💬 #MortgageRates #HomeBuying #RealEstateTips #CreditScore #DownPayment #LTV #HomeAffordability #PrimeLendingCA #PrimeLending #mortgagelife #community #rotarylife #integritymatters #bankstatementloans #foreignnationalloans #selfemploymentloans #InvestmentLoans #Lendingin50states

Our latest blog is about the Federal Fund Rate and how it affects mortgage rates.

Maximizing a home down payment can make sense: The bigger the down payment, the lower the monthly mortgage bill and the better the chance of building equity more quickly. But putting too much down could leave you without enough cash for home maintenance or an emergency. How can you find a good balance? Own A Piece Of The Island, Own Peace Of Mind.