Posts Tagged ‘Mortgage Payments’
Save Some Additional Cash with Our Guide to Lowering Your Monthly Mortgage Payment
If you are like many other homeowners, your home mortgage payment is the single largest expense in your monthly budget. This is a fixed expense that you will typically be responsible for until your loan is paid in full or until you sell your home, and you may have a 15, 20 or even 30 year term on your mortgage.
Read MoreShould You Be Worried About Skipping Multiple Mortgage Payments? Yes, and Here’s Why
If you are skipping multiple mortgage payments, you should be concerned about your financial situation. There are several important reasons why you may want to take action to improve your situation or to work out a payment arrangement with your mortgage company.
Read MoreHow Does Making Lump Sum Payments Affect Your Mortgage? Let’s Take a Look
Periodically, many homeowners will receive a rather sizable amount of extra cash. This may be from a bonus from your employer, a refund on your tax return, a financial gift from a relative or something else altogether. Before you make your decision about how to spend your money, consider what impact your lump sum payment will have on your mortgage.
Read More3 Reasons Why Your Mortgage Lender Might Ask for Your Tax Returns – And Why You Should Provide Them
Typically, a mortgage lender will include a request for least the last two to three years of your income tax returns with this documentation. There are several reasons why a lender may need to review your tax returns and why you should provide requested documentation as soon it is requested.
Read MoreThe Mortgage Pre-approval Letter: Why It’s Important and How to Get One
While you may feel as though you have taken the preliminary steps necessary to prepare yourself to buy a home, it is important that you also get a mortgage pre-approval letter for your financing before you starting hunting for that perfect house or condo.
Read MoreBuying a Second Home? Assessing Your Finances to Ensure You Can Afford a Second Mortgage
While there may be numerous benefits associated with the purchase of your second home, you may be concerned about how affordable it will be for you to manage the additional expense of a second mortgage payment.
Read More3 Easy Ways to Put Aside a Bit of Extra Cash So You Can Pay off Your Mortgage Faster
If your personal budget is similar to many other people’s budgets, your home mortgage payment is by far the largest expense that you pay for each month. In fact, this payment may easily account for 20 or 25 percent or more of your take-home income. Understandably, you may be focused on trying to pay this expense off early.
Read MoreBudgeting: How to Manage Large Mortgage Payments when Buying a Costly, High-value Home
If you are preparing to take on a larger mortgage payment that is reasonably manageable for you, you may do so with greater confidence when you follow a few tips.
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