Tag Archives: loan affordability

Calculate How Much Home Loan You Can Afford to Borrow

It is extremely important to calculate how much home loan you can afford to borrow in order to ensure smooth and timely payments as well as financial stability in the future. In order to do so you need to determine the following factors: Determine home ownership costs. Understanding tax benefits of homeownership. Accumulating and investing […]

Warnings Signs Of Looming Credit Problems

Are You Headed for Credit Trouble? Answer Some Questions and Find Out Getting a high interest rate loan to consolidate credit card debt is not necessarily the end to your fiscal woes. If you’re doing it because you want to reduce your monthly payment and stretch of the length of time, you could end up […]

Balancing Retirement Plans With A Mortgage Loan

Establishing Financial Goals for Retirement Planning to save for retirement is a common goal and many people work towards this end. The good news is that you can also take advantage of the tax incentives when you saved in a retirement fund. The money can be attributed to one employer-based retirement plan such as a […]

How To Determine Home Ownership Expenses

Determining Potential Home Ownership Expenses It is an important step to determine the expenses of home ownership before you take out a mortgage. This will give you a fair idea of how much you can actually afford. If you’re about to buy your first home then it is likely that you will not be able […]

You Need To Start Saving Money Before Applying For A Mortgage Loan

In most circumstances people need to start saving before they can come up with enough money to make the down payment as well as pay for the closing costs of a home mortgage. In order to save you will need to play around with the information that you collected about your own income and expenses. […]

Impact Of A Mortgage Loan On Your Financial Future

A mortgage loan will impact your financial future as well since it will be a sizable payment that you will need to make regularly. If there are any long term or short term financial plans then they need to be considered in the cost of your mortgage as well. These plans will also affect the […]

Maintenance Costs and Home Improvement Costs

Maintenance costs and spendings on any necessary or optional home improvement also needs to accounted for when you are calculating the budget for your home loan. Since these costs are as real as any other, they have to budgeted for as well in order to know well and truly how much you can afford as […]

Excess Mortgage Borrowing – Ask Yourself If You Can Afford It

Can You Handle Excess Mortgage Borrowing? Many people believe that they can handle additional mortgage loan them what their mortgage lender may be able to approved them for based on the current income. To achieve their goal towards this purpose, they either borrow money from family or falsify and inflate their income on their mortgage […]

Income Tax Write-Offs on a Mortgage Loan

The federal tax authorities at the internal revenue service allow for tax deduction and tax benefits to be given to homeownership. The IRS and most state governments allows you to deduct mortgage interest and property taxes when you file your annual income tax returns within certain limits. You are allowed to deduct the interest on […]

Paying Property Taxes and Purchasing Home Owner’s Insurance

Paying property taxes and purchasing home owner’s insurance is an added expense that might have to bear when you close on a mortgage loan. Paying Property Taxes You also need to pay property taxes for you to click on. The taxes are generally paid to division typically called the county or the town tax collector. […]