I bought my first house in April 2012. We paid $185,000. Our loan was for $177k at 3% for 15 years. We hated debt, made decent money, and at some point set a goal to pay this mortgage off in about 5.5 years. It was an FHA loan, which required dreaded Mortgage Insurance (MI) payments, … Continue reading The Mortgage Paydown Dilemma
What is Mortgage Recasting?
Occasionally, friends/clients ask if they should refinance so they can lower their mortgage payment. If interest rates have fallen, if you are trying to drop mortgage insurance and your current lender is playing hardball, or if you are just trying to lower your payment by extending your loan out further, then refinancing may be the … Continue reading What is Mortgage Recasting?
Should I buy down my mortgage interest rate?
As a real estate agent I spend a lot of time looking at mortgage quotes. I think I spend more time than most agents, because I'm such a nerd about personal finances. That, and I want to make sure my buyers are getting a good deal. I think it's an important part of my job. … Continue reading Should I buy down my mortgage interest rate?
My quick plan for financial independence
My goal for FI is $1.2 mil net worth. I'll call $1.2 mil my "number". My primary residence is excluded from my number, since it doesn't produce cashflow while living in it. I'm also not including any stock we hold from old privately-held employers. I hope we can cash those out someday but have no … Continue reading My quick plan for financial independence
You need to shop harder for a mortgage
WARNING, this post may be more dry than some others... Lots of numbers and graphics... It may not be as entertaining or short as my other posts. But if you apply what I'm saying, it'll likely save you a few thousand dollars the day you sign for your next home purchase... and maybe a little … Continue reading You need to shop harder for a mortgage
Some things I’ve learned about self-employment
In 2011, I enrolled in a real estate agent licensing course. I knew there was a lot of money to be made, but didn't think I would ever give up the security of a regular paycheck with benefits. I was working at Wells Fargo, got a few promotions, and learned about a "conflict of interest" … Continue reading Some things I’ve learned about self-employment
What I wish I knew about money 10 years ago
I'm 31 years old. Still pretty young to consider "retiring" in 5 years, right? Well, if I understood money at age 21 like I do now, I suspect I would be hitting my retirement number in 1-2 years. Reaching financial independence can be simple if you start young. I don't think I made a lot of … Continue reading What I wish I knew about money 10 years ago
A Realtor’s take on Real Estate Investing
I am a Realtor by profession. Most of my business is in helping people buy and sell a primary residence. I work with a few investors and a few companies with their commercial office spaces. When I talk about "investing" or personal finance, a lot of friends and associates immediately think I'm pushing product and … Continue reading A Realtor’s take on Real Estate Investing