Building a Home
What Property Buyers Should Know About Land Loans
The idea of building a dream home on a new plot of land inspires many future homeowners. Thereâs something exciting about the prospect of finding the right spot to build on and customizing everything in your new home. But while itâs not uncommon for potential home buyers to opt into building a home, the land […]
The post What Property Buyers Should Know About Land Loans appeared first on The Simple Dollar.
VA Construction Loan | Requirements & Process 2023
You may have heard VA construction loans are hard to find. Itâs true that a lot of VA lenders donât offer them. But VA construction loans do exist, and qualified […]
The post Blog first appeared on MilitaryVALoan.com.
What Is a Mortgage Interest Deduction?
Saving up money for a down payment and closing costs has created a barrier for many would-be homeowners. To make it a worthwhile debt to incur, incentive programs were designed, like the mortgage interest tax deduction, which has made it even more attractive for renters to take the leap and incur the mortgage debt required […]
The post What Is a Mortgage Interest Deduction? appeared first on The Simple Dollar.
What is Mortgage Interest Deduction?
As a homeowner, there are occasional perks you have access to, especially with the mortgage. Often, you can deduct the interest you pay on your mortgage if you meet the standards. A mortgage interest deduction is a helpful perk, though there are instances where it can be more trouble than itâs worth. Read on if… View Article
The post What is Mortgage Interest Deduction? first appeared on Total Mortgage.
The Radiant Heat Experiment – Did it Work?
One whole year ago, IÂ was in the depths of destroying and rebuilding a sagging 1950s brick ranch house, which has since grown up to become our actual home. Looking back through Google Plus’s automatic archive of my phone pictures, I can see the “kitchen” was still open to the great outdoors on that date: Despite […]
How Do You Get a Land Loan?
Land loans allow borrowers to purchase a piece of land, often with the intention of building a home there or developing it for business. Because of the inherent risk to lenders, land loans can be challenging to find. The rate and required down payment are typically higher than those of a traditional mortgage loan, and […]
The post How Do You Get a Land Loan? appeared first on SoFi.
30 Financial Rules That Every 30 Year-Old Should Know (or risk going broke)
The BIG 3-0. The age that you’re really an adult. In your 20’s, you could still swing being a bit immature. Once 30 comes it’s game over. And now that I’m 35… Dang! Am I really 35? <sigh> Halfway through my 30’s and I’ve been rocking it the best way I can. As a result, […]
The post 30 Financial Rules That Every 30 Year-Old Should Know (or risk going broke) appeared first on Good Financial Cents®.
Is your home a better investment than the stock market?
I’ll admit it: There are times that I think everything that needs to be said about personal finance has been said already, that all of the information is out there just waiting for people to find it. The problem is solved.
Perhaps this is technically true, but now and then — as this morning — I’m reminded that teaching people about money is a never-ending process. There aren’t a lot of new topics to write about, that’s true (this is something that even famous professional financial journalists grouse about in private), but there are tons of new people to reach, people who have never been exposed to these ideas. And, more importantly, there’s a constant stream of new misinformation polluting the pool of smart advice. (Sometimes this misinformation is well-meaning; sometimes it’s not.)
Here’s an example. This morning, I read a piece at Slate by Felix Salmon called “The Millionaire’s Mortgage”. Salmon’s argument is simple: “Paying off your house is saving for retirement.”
Now, I don’t necessarily disagree with this basic premise. I too believe that money you pay toward your mortgage principle is, in effect, money you’ve saved, just as if you’d put it in the bank or invested in a mutual fund. Many financial advisers say the same thing: Money you put toward debt reduction is the same as money you’ve invested. (Obviously, they’re not exactly the same but they’re close enough.)
So, yes, paying off your home is saving for retirement. Or, more precisely, it’s building your net worth.
But aside from a sound basic premise, the rest of Salmon’s article boils down to bullshit.
Construction Loan: Understanding How It Works | Chase – Chase News & Stories
Construction Loan: Understanding How It Works | Chase Chase News & Stories