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Forbes Home buying Interest rates Mortgages

Considering an Adjustable Rate Mortgage (ARM) When Rates Rise

Interest rates are rising, and that's bad news for homebuyers. The national average rate on a 30-year fixed mortgage is now over 5%. After being in the 2% range for much of the Covid era, buyers are now facing a one-two punch: a red-hot housing market and rapidly rising rates.…

Kristin McKennaMay 16, 2022

Forbes Home buying Interest rates Mortgages

Putting A Lump Sum Towards Your Mortgage Won’t Lower Your Payment

Putting extra cash towards your mortgage doesn't lower your payment If you have extra cash and are considering putting it towards paying down your mortgage early, you should be aware that it won’t automatically reduce your payment. Putting extra cash towards your mortgage doesn’t change your payment unless you ask…

Kristin McKennaSeptember 14, 2020

Cash Management Current events Debt Management Home buying Interest rates Investing Mortgages Real Estate Updated for 2021

Is Refinancing Your Mortgage Worth It? Here’s How Much You Could Save

How much can refinancing your mortgage save you? Mortgage rates are currently very low - the average 30-year mortgage is now below 3%. It might make sense for homeowners to consider refinancing. How much could you save from refinancing your mortgage? Here's how to tell if refinancing your mortgage is…

Kristin McKennaMarch 2, 2020

Early Retirement Forbes Home buying Real Estate Retirement Planning Updated for 2020

Should You Buy Your Retirement Home Before You Retire?

When should you buy your retirement home? Buying a retirement home too early could be short-sighted, despite long-term intentions. Whether you're in your 30s or 60s, it's important to objectively weigh the pros and cons before purchasing a retirement home to avoid making a potentially costly financial decision. (more…)

Kristin McKennaFebruary 27, 2020

Early Retirement Forbes Home buying Real Estate Retirement Planning

What to Look for When Buying a Home for Retirement

There are plenty of ways to buy a home, but for many pre-retirees, it may be a good idea to wait until you're much closer to retirement to begin seriously searching for a retirement home. By waiting, you'll have the best and most current information possible about what your current…

Kristin McKennaFebruary 11, 2020

Forbes Home buying Real Estate

Is it Better to Buy a Home with Cash or a Mortgage?

Should you get a mortgage if you can buy the home with cash? The idea of living mortgage-free can be particularly enticing for individuals nearing retirement. At this time, it’s also common for empty-nesters to consider selling the large family home in favor of a smaller property or condo that’s…

Kristin McKennaMay 7, 2019

Cash Management Home buying Real Estate Updated for 2021

Should You Pay Off Your Mortgage Early or Invest Extra Cash?

Should You Pay Off Your Mortgage Early or Invest Extra Cash? It's true: the idea of living without a mortgage payment sounds enticing. On the surface, it may also seem like a no-brainer financially...paying off debts is typically considered a positive thing. Unfortunately, many homeowners get so wrapped up in…

Kristin McKennaApril 30, 2019

Home buying Real Estate Updated for 2021

Should I Sell or Rent My House?

Moving and wondering whether you should sell or rent your house? It's common for homeowners to wonder if they should rent or sell their home after buying a new house. Owning a rental property can be a great way to diversify your streams of income, particularly if you have a…

Kristin McKennaJanuary 24, 2018

Home buying Real Estate

Buying, Selling, or Inheriting a Home

Real estate is often a big part of an individual's net worth, whether by accident or design. In the last 10 years, we've seen a tremendous comeback in the real estate market across the country. Buyers today generally enjoy low (but increasing) interest rates and relaxed lending requirements. These benefits…

Kristin McKennaAugust 22, 2017

Home buying Real Estate Updated for 2020

Converting Your Home Into a Rental Property

The IRS defines a primary residence as a living space which you inhabit, but may rent out for up to two weeks per year without paying tax on the rental income. A rental home is primarily used as an income property, where personal use does not exceed the greater of…

Kristin McKennaOctober 19, 2016

Home buying