Sentences with phrase «life of your mortgage instead»

Not exact matches

Instead, she and her family will live in a four - bedroom heritage home in the north end of Halifax where their monthly mortgage payments are roughly half the cost of renting a two - bedroom apartment in Vancouver.

Younger people save more money and rather spend their money on living life instead of being trapped in a 30 year mortgage.

This makes it very different from a fixed mortgage, which instead carries the same rate of interest over the entire term or «life» of the loan.

Only instead of betting a couple dollars, or the Mortgage, they are laying their eternal life on the line.

When the church is consumed and possessed by mortgages, capital campaigns, membership numbers, qualifications for membership or deacon or elder, the variety and format of financial reports, redecorating, ordination policies, the proper delineation of committee responsibilities, the aggregation and strengthening and protection of church hierarchical authority, the preference for political associations and prominence instead of being a voice and influence for justice and compassion, seasonal vestment colors, the abandonment and refusal to acknowledge congregations who dare to be excited by their proclaiming and provoking and living and sharing the Good News, the continual choosing and preoccupation with better organization over better outreach, or what styles of worship are to be offered — then it is time for an earth - shaking, stone - rolling, curtain ripping, hurricane - strength, fiery and noisy transformational revolution that will resurrect the Good News in the body and spirit of communities and individuals.

Credit unions usually hold the mortgage for the life of the loan instead of selling it many times, which is common among banks.

By setting up a reverse mortgage you can draw from your home's equity instead of your 401 (k) plan or IRA in times of low investment returns.5 So, when the stock market is yielding low returns, you can live off of the money from your reverse mortgage while allowing your investment portfolios to recover.

So don't think you'll «fly under the radar» from a credit standpoint if you lived somewhere only briefly or if you pay rent instead of a mortgage.

By setting up a reverse mortgage early in retirement, borrowers are able to draw from their home's equity instead of their 401 (k) plans or IRAs in times of low investment returns.3 So, when the stock market is yielding low returns, these retirees use the money from their reverse mortgages to live off of while allowing their investment portfolios to recover.

Instead of looking at only the interest rate, you might also want to find out what is the total mortgage cost over the life of the loan.

But what if instead of feeling like a castle, your home felt more like a prison with your mortgage as a life sentence?

In this example, choosing accelerated bi-weekly payments instead of monthly payments on a $ 150,000 mortgage would save you more than $ 22,000 in interest costs, and cut more than 3.5 years off the life of your mortgage.

(This is also a great option for many families who often get mortgage life insurance instead, which is more expensive than term life and the payout declines as the face value of the mortgage declines.)

Should we switch to term insurance through a private insurance company for our insurance instead of paying $ 292 biweekly for mortgage life and disability?

But instead of making regular loan payments, a reverse mortgage is designed to be paid off once you no longer live in the home.

Instead of you making monthly mortgage payments, the lender pays you in the form of fixed monthly payments for the rest of your life, or as a lump sum or a line of credit that can be tapped when needed (up to a certain limit).

The overall cost of the mortgage and loan payments over the life of the mortgage would result in $ 1080 more in interest by taking advantage of the program instead of using all of your own funds for down payment.

Contrarian thought: Buy an average house instead and do not become a slave to your mortgage for the rest of your life.

It made sense that policyholders would want to keep term insurance instead of expensive whole life insurance, especially here in Palo Alto or the Bay Area, where housing prices and incomes were rising very quickly and folks realized that they needed larger and larger amounts of term insurance to replace the income of the main breadwinner or to pay off a large mortgage at death.

For many people, the largest purchase made in their lifetime is their home — and because of that, if the unexpected would occur, it can be helpful to know that the balance of the mortgage will be paid, allowing loved ones to remain there instead of having to uproot their lives.

You also will have lost the opportunity to invest what you saved from purchasing cheaper term life insurance instead of mortgage protection insurance.

An effective way to cover your mortgage commitments (and peace of mind for your loved ones), is to take out term life insurance for the length of your mortgage instead of the add - on product offered by the bank at the time of your mortgage signup.

Instead of buying mortgage life insurance, you have the option of buying term life insurance iInstead of buying mortgage life insurance, you have the option of buying term life insurance insteadinstead.

Today, it makes sense to get mortgage term life insurance equal to the amount of your original mortgage amount, instead of a decreasing amount of life insurance.

goodnatured, Well if you have a 30 yr mortgage, you might buy a 30 yr term policy instead of a whole life policy.

There are some who may choose to get mortgage insurance instead of term life insurance, especially if you have health issues; such as, obesity, high blood pressure, smokers, diabetics, or have other health issues that keep you from getting preferred rates or in some cases keep you from getting approved for life insurance at all.

Instead of getting a tax - free lump sum that you'd get with a private life insurance policy — leaving your survivor (s) free to determine how to best spend it — the payout of a mortgage insurance policy goes directly to the bank.

But instead of life - long life insurance coverage, you may only need to protect your family from long - term expenses such as the mortgage, your children's education, or a home equity loan.

The only reason to consider mortgage protection insurance instead of term life insurance is if you can't meet the underwriting criteria for the latter.

Life insurance can provide the money need not only to help pay for your burial and funeral expenses, it can provide money to help your surviving spouse pay for living expenses, pay off your mortgage, and provide money for your spouse to enjoy retirement, instead of struggling financially in the golden years.

Instead of opting for one of these policies, factor in the cost of your mortgage as you calculate your overall life insurance needs.

Today, it makes more sense to buy mortgage term life insurance equal to the amount of your original mortgage amount, instead of a decreasing amount of life insurance.

Whether you have just settled down in Nevada to start your family, or you have recently become your own boss and set up a business, life insurance can mean the difference between enabling your family to focus on their time together instead of worrying about how they will pay the mortgage or if the business will survive without you.

Instead of leaving them with debt and insecurity, a term life insurance policy will help them pay off the mortgage, cover college tuition, and pay off credit card debt in your absence.

Instead, you should compare term life insurance quotes to compare policies that can provide coverage for such events as college tuition, paying off the home mortgage, or other uses where the need for the policy will expire after a given number of years.

But consider this: You could end up paying more during the life of the loan if you pick the 30 - year option instead of the 15 - year mortgage.

This makes it very different from a fixed mortgage, which instead carries the same rate of interest over the entire term or «life» of the loan.

They understand that purchasing a condo would make financial sense — but at this point in their lives, he added, they would rather enjoy trips to New York City and Europe instead of bankrolling a mortgage and home repairs.

A 15 - year fixed - rate mortgage has a higher monthly payment (because you're paying off the loan over 15 years instead of 30 years), but you can save thousands in interest over the life of the loan.