SAVE
BIG ON PHONE CALLS!
|
|
No
switching! Low International rates! FREE minutes and
much more! |
For
a limit time get the DebtSmart Loan Calculator for FREE
when you sign up! |
|
|
|
Link
to more articles at bottom of page |
|
Household
Math™: Is Biweekly Better?
Here are two mortgages: (Loan 1)
Standard mortgage for $166,792 at 6% for 30
years with monthly payments of $1,000.00 or (Loan 2) A biweekly
mortgage for $166,792 at 6.1% for 25 years with biweekly payments
(once every two weeks) of $500. Which mortgage is better?
|
|
Household
Math™: Which Mortgage is Better?
I am trying to decide whether to refinance my home mortgage (again).
We would like to reduce the time to payoff and are considering a
15-year loan at 4.75% APR. We currently owe $166,312 with 341
payments of $1,060 left at 6.375%. The new loan generates 180
payments of $1,293. If I just took the extra $233 and paid toward my
current loan would I be better off?
|
|
Pay
It Off Or Keep It?
Interest
rates went down this week and many people are refinancing their home
mortgages once again. When you refinance, it's important to make
decisions based on your personal and financial goals in life.
In this article, we are going to discuss the topic of paying off
your mortgage early and why you might or might not want to.
|
|
How
Much?
I understand that 25% of my monthly
income should be for mortgage, taxes and insurance. How much should
I plan for the remainder of my budget?
There are two of us in our household. Is there a set formula? Also,
if I plan to retire in the next 5 years, should I be carrying a
mortgage for the sake of a tax write off?
|
|
Household
Math™: Fast Pay Mortgage
You have a $100,000 mortgage at
6% APR for 15 years. How many extra monthly payments must you send
each year to be able to pay off this loan in exactly 5 years? Note:
All extra payments are sent along with the year's last monthly
payment.
|
|
The
Truth About Mortgage Loans
When you close on a new mortgage,
your loan papers state the interest rate you will be paying for your
loan. But is that interest rate really as good
as it looks? Out of your monthly payment that you faithfully make
each month, do you know how much of that amount is actually going
towards interest?
|
|
Household
Math™: Home Equity vs. Credit Card
Donna and Kyle need $10,000 to
remodel their kitchen. They will be able to repay this in 12 months.
Donna gets an offer on her credit card of 0% for 12 months with a
$10,000 max and no fees. Kyle's college buddy Vinnie, is a mortgage
broker and tells Kyle that he can get him a home equity line of
credit at the Prime rate, currently 4.25%, with no application
charges or other fees. Kyle tells Vinnie that his wife has a 0%
credit card offer and asks him which is better. Vinnie says that in
their case the home equity line will
have full tax benefits, however they would remain in the same tax
bracket. Which option is better? The 0% credit card deal or the
home-equity line of credit?
|
|
Household
Math™: Home Refinance
Ever wonder what everyone is paying in
interest? I certainly do and I have a feeling you do as well. Please share
your rates with other readers so we can compare notes and get better lending
deals!
|
|
|
|
Coupon
Codes
|
Enter your
coupon code to see valid offers.
|
|
|
|
Subscribe FREE
and you receive the 5-Year
Loan Worksheet software FREE!
|
"The
DebtSmart Email Newsletter is packed with cutting-edge
strategies for solving credit problems. I highly recommend
it."—Gerri Detweiler, author
of The Ultimate Credit Handbook
|
"I
received Debtsmart about a month ago
and I love it!!! I learned so much.
Great tips!!! Keep up the good work!"—Vanessa
Keith, Amarillo, TX
|
|
|
|