Invest or pay off your mortgage. Find out which one makes sense for you.

You’ve come into some extra money. Maybe a relative left you an inheritance, or your employer gave you a holiday bonus. Or maybe you’ve set up your budget to get you some extra savings each month. You want to use this extra cash to improve your financial situation. But what’s the best way to do […]

should you pay off or refinance

As the owner of a rental property, your goal is to reduce your expenses and maximize your profits. Refinancing can help you achieve this goal. It can enable you to lower your interest rate and slash years off the term on your mortgage. But how do you know if and when it’s smart for you to refinance […]

Financial goals

What are your goals in life? Do you want to travel, go to college, start a family, retire at 40, build a business, or all of the above? Regardless of what your dreams are, reaching them usually requires careful planning and money. These five steps will help you set and achieve your financial goals. 1. […]

Reverse mortgage SuperMoney

A reverse mortgage is a loan for homeowners who are 62 and older who want to convert part of the equity in their home into cash (usually tax-free). The borrower keeps the title of the house and is still responsible for paying property taxes, utilities, home insurance, maintenance, and other related costs. It can be a great […]

15-Year or a 30-Year Mortgage

Almost all home mortgages have a term of either 15 or 30 years. The term is the length of time you have to pay off the loan through a pre-set schedule of monthly payments. As the name suggests, the 15-year loan allows 15 years. The 30-year loan allows 30 years. So, which is better: a 15-year mortgage […]

15-Year Fixed Mortgage: Pros and Cons

A 15-year fixed mortgage can be an attractive choice for home buyers and homeowners who want to refinance their current home loan. However, it’s not always a smart or even viable option. Here are the pros and cons you should consider before applying for a mortgage refinance. 15-Year mortgage: pros and cons On the pro side, […]

should you switch to a 15-year mortgage

The decision to refinance your mortgage can be challenging, especially when you’re trying to accomplish two different objectives at the same time. Rather than evaluate your term and rate together, let’s break it down and look at these objectives separately to understand whether they make sense for your financial situation. Should I switch from a […]

Should you refinance a 30 year mortgage for a 15 year mortgage

Refinancing your home mortgage into a shorter term can be a smart move. But you should be prepared for the costs of refinancing and able to handle a much higher monthly payment. Examples of good reasons to refinance might include: Securing a lower rate Locking in a fixed rate instead of a variable Removing a borrower […]

pros and cons of refinancing mortgage

A home mortgage is sometimes called “good debt” because, unlike credit cards, personal loans, and auto loans, a mortgage helps you buy and own an asset that can become more valuable over time. There are certain factors to consider when it comes to refinancing your mortgage pros and cons. There’s even a smart way to […]