Bryce Sanders

Summary Borrowing from life insurance — known as a life insurance loan — is an easy way to get cash immediately without the high interest rates of bank loans and credit cards. However, there are a few potential downsides, including reduced benefits and the possible loss of your life insurance policy altogether, so it’s important […]

Article Summary Christmas club savings accounts are banking products that combine the advantages of traditional savings accounts and certificates of deposit. You can open an account with a small initial deposit and fund it with regular deposits on a set schedule. Your savings then earn interest, and the account matures in time for holiday shopping […]

Article Summary: Companies often provide benefits to their employees, including 401(k) retirement plans. To encourage their employees to save for retirement, these companies will usually match contributions up to a certain amount. If your company offers a 401(k), how much you should contribute to it in your 20s depends on the annual limit on matching […]

Article Summary: Certificates of deposit (CDs) allow you to lock in an interest rate for a set period of time at the cost of immediate access to your money. High-yield savings accounts, on the other hand, provide easy access to your money, but interest rates will vary over time. Issued by U.S. banks, both products […]

Article Summary: Exchange-traded funds can be great investments, as they often contain diverse securities, come at a low cost, and allow you to immediately reinvest your dividends. However, depending on the ETF you invest in, you may find that you receive fewer dividend funds and have less diverse securities than you previously realized. Because of […]

Article Summary: “Being poor” can mean having an income that falls below the poverty line. In that case, you may need to take advantage of assistance programs, improve your education, and find better work. “Being poor” can also mean feeling poor because you can’t seem to avoid spending every cent you make, aren’t saving or […]

Article Summary Two of the primary ways the U.S. government taxes individuals are by taxing income and taxing investment gains. The government encourages investing for the long term by setting a lower tax rate on realized profits from investments held longer than one year. There are commonly used strategies to defer or reduce capital gains […]

Article Summary: Both a cash-out refinance and a home equity line of credit (HELOC) are refinancing options for homeowners looking to tap their property’s equity. Through a cash-out refinance, the homeowner receives a check for the difference between the original mortgage and the home’s equity by applying for a new, larger mortgage. A HELOC, on […]

Article Summary: Annual percentage rate (APR) and annual percentage yield (APY) both sound similar, but they are actually quite different. APR is the annual cost of a loan to a borrower. It is the rate usually advertised when people shop around for a loan or line of credit. APY, on the other hand, is the […]

Article Summary: Contingent offers represent about 8 out of every 10 home purchases, yet only about 1 in 10 of them fall through. Both buyers and sellers may have contingencies in place to protect themselves from failed financing, outrageous home repair expenses, or ownership disputes. 1 in 20 NAR’s 2022 survey found about 5% (or […]

Article Summary: Mortgage underwriters deny about one in every 10 mortgage loan applications. This is often because the applicant has too much debt, a spotty employment history, or a low appraisal report. However, by knowing what an underwriter reviews, you can make your application as attractive as possible. 1 in 10 On average, one in […]

Article Summary: Tax-deferred accounts allow investments to grow tax-free until some point in the future (sometimes indefinitely). This allows assets to grow faster and reduces tax liability. Investors should consider taking advantage of tax-deferred accounts whenever available. “Nothing is certain except death and taxes.” Ben Franklin was not just flying kites and extolling the virtues […]

Article Summary: PITI stands for Principal, Interest, Taxes, and Insurance, which represent the four components of a property owner’s monthly mortgage payment. By combining the numbers from each of these initials, a mortgage lender estimates the loan you can afford based on your current income. When a lender decides whether they will lend you money […]

Article Summary: If you inherit real estate, the existing mortgage doesn’t need to be immediately paid off. You can take possession of the property, assume the mortgage (or refinance it) and continue making payments. It’s been estimated about 62% of American homeowners have a mortgage. For a deceased person, their house is often their largest […]

Article Summary You can use VA Loans as many times as you want, but you can only have one active (or maybe two in special circumstances) at any one time. The US military offers excellent benefits as an incentive to recruit people into the armed services and make it their career. These benefits stay with […]

Article Summary: Wondering what the difference is between mortgage insurance vs. homeowners insurance? When you borrow money to purchase property, lenders will use every tool in their toolkit to minimize risk. For borrowers only making a small down payment, requiring you to carry mortgage insurance is one tool. Another tool is requiring you to carry […]

Paper money may soon be obsolete.  You may have already converted your life to online payments, Apple Pay, and contactless credit card payment. This works well at home but probably isn’t the best strategy when traveling abroad, especially outside major cities. Here’s how we do it. You will need cash when traveling in Europe and […]