Sentences with phrase «considering paying off your mortgage»

If you have the means, you should definitely consider paying off your mortgage early, especially if your interest rate is on the high end and don't have other investment strategies in place.

If you have the means, you should definitely consider paying off your mortgage early, especially if your interest rate is on the high end and don't have other investment strategies in place.

Once you've figured out what you'd like to do, consider paying off your mortgage to reduce your retirement expenses.

Most of us have mortgages (you did not specify it, so I assume you do too), so consider paying off mortgage faster and this will be the bond component of your portfolio.

Pay off your consumer debts, crush student loans, and consider paying off your mortgage.

Once you are contributing a healthy amount to your retirement funds, you may want to consider paying off your mortgage early.

Not exact matches

And, consider that your mortgage may not be paid off or you acquire a new mortgage.

Though these loans allow you to avoid paying mortgage insurance, they often come with trade - offs that you should consider, such as adjustable - rates or balloon payments.

«You should consider making sure you get enough life insurance to cover paying off the mortgage and continuing to pay for college, and potentially invest in life insurance that would allow your spouse to get a steady stream of income in the future,» said Byron Udell, CEO of Accuquote.com.

You can also consider a 15 - year fixed - rate mortgage which allows you to pay off your loan in a shorter period of time and has a lower interest rate, but the drawback of this is that your monthly payments will be higher.

I considered three different mortgages and their feasibility to pay them off within my 10 year FI plan and the results are:

If you're out of debt except for your mortgage, maybe consider a plan to tackle your mortgage and pay it off early!

If a borrower is concerned about their ability to make these higher payments, he or she may want to consider a 15 or 20 year mortgage and make extra principal reduction payments to pay off their loan faster.

Finally, when deciding whether or not to pay off a mortgage loan early, consider whether or not you have other debts.

Consider what it would really cost to replace the house — to rebuild and pay for living while you do so (including demolition, etc.) and / or pay off the mortgage and return your equity if it is a financed property.

In light of that, consider this: if you have a mortgage that is not paid off, that's exactly what you're doing.

In case you already own a home and have an open mortgage, consider making faster payments and pay off your loan faster while the mortgage rates are low.

When refinancing, consider taking out a mortgage that will be paid off by the time you retire, and preferably earlier.

If you don't have a guaranteed stream of retirement income beyond Social Security — such as an annuity — to help cover essential expenses, consider focusing on paying off your mortgage to eliminate that expense.

If the mortgage interest rate is low, consider paying off any high - interest personal loans and credit card debt first.

Consider taking out a home equity line of credit — often called a HELOC — and using that to pay off your current mortgage.

On the other hand, if you've just purchased a home with your spouse, you might consider a decreasing term policy (since your mortgage balance decreases over time as you pay it off) with a death benefit equal to the size of your outstanding loan.

Consider that, on a $ 100,000 mortgage at 6 %, just by making a $ 5,000 prepayment each year, you can pay off the mortgage in about 11 years (compared to the usual 25) and reduce the overall interest you pay by $ 55,668.

Even if you never pay off your mortgage, and even if the housing market bursts again (which I would say it is likely to considering the fact that land prices have been recovering and the government has largely been considering subsidizing housing on a large scale... again) you still have SOMETHING in equity, whereas when you rent, you will never see that money again barring extenuating circumstances.

However, if you plan to apply for an auto loan, mortgage or other type of credit before you pay off that balance, you may want to consider waiting to close the credit card.

Once 20 % of the principal balance of a loan is paid off, or a borrower owns 20 % of the equity of their home, borrowers are no longer considered a high default risk and can request that the mortgage insurance policy be cancelled.

If you have cash on hand, consider paying off more of your mortgage to get your homeowners rates down.

The primary reason why most homeowners consider paying off credit card debt by consolidating all of their outstanding credit debt into a second mortgage is because the interest rates on their existing credit card are simply too high.

A 2nd mortgage loan is widely considered to be cost - effective financing tools to pay off high payments and ARM loans that are risking payment increases.

And if the answer is well, I could get $ 200,000 for my house and I got $ 50,000 worth of other debts okay then pretty simple, either sell off the house and pay off the debts or consider getting a second mortgage, refinancing a second mortgage, whatever.

• When asked to name the number one reason for considering a reverse loan, borrowers responded with «paying off existing mortgage.»

For example, when considering if you should pay off the mortgage or invest, you should know that paying off the home would (eventually) likely result in a lower credit score.

If we consider the retirement accounts instead of paying down the 4 % interest loan (a mortgage for example), we would be 35,000.00 better off over the same period.

I'm considering buying a house in the next year or so, and my plan is to rent out room (s) to help pay off my mortgage.

If mortgage rates exceed 4 % then they should considering switching to a debt reduction focus, by using their non-registered savings to pay off a chunk of the mortgage and increase their monthly payments.

I considered three different mortgages and their feasibility to pay them off within my 10 year FI plan and the results are:

If you have paid off your mortgage and you don't have any massive debts, then you could consider dropping your life insurance altogether.

When you have paid off your higher rate credit cards and student loans and car loans and only have your 4.5 % mortgage to pay off, then perhaps you'll want to consider both investing AND paying off the mortgage.

If you own a home, and you've built up equity in it by paying off some of your mortgage, you may consider taking out a home equity loan for your business, borrowing against the inherent cash value of your house without the need for a third - party lender in the picture.

If you invest in bonds or GICs, consider using these investments to pay off your mortgage principal once they mature.

It's still worth considering and doing the numbers, especially if you've a flexible mortgage so you can pay the debts off more quickly.

Paying off your mortgage faster has a lot of benefits and can prove to be a worthwhile decision — do consider it!

That just doesn't seem practical to me, especially considering my living expenses should be considerably lower in retirement (mortgage paid off, kids off on their own, etc.).

If paying off debt as quickly as possible tops your list of financial goals, consider taking advantage of low interest rates and refinancing to shorten the length of your mortgage loan.

If you put $ 25,000 down on a rental property and pay the mortgage off with rent money paid by the property's tenant (s), the $ 25,000 is considered your investment.

I'm not saying that you should direct all your retirement savings into your mortgage until your mortgage is paid off but maybe thinking about using the portion of your portfolio that you might consider investing in bonds to pay down your mortgage (until that is paid off) might make sense.

When considering where mortgage rates are at right now, taking out a 30 - year loan at the $ 417,000 mortgage loan limit for 2016, would result in you paying over three hundred thousand dollars - worth of interest to pay the loan off.

I am considering paying my mortgage off as well but I decided to leave the cash in CDs for now (maybe bonds later).

One scenario she's considering is simply selling the Calgary townhouse she's barely owned for a year — a move she believes would allow her to break even, get the huge mortgage off her back and pay off her other debts quicker.

Since we currently live in a $ 130k condo with $ 1000 rent, we figured we can get a small mortgage and buy a small townhouse and pay it off in 5 years and be fine regardless of the house value fluctuations (we also considered using cash to buy it, but with great credit, interest rates are lower than investment appreciation).