Q: How can I pay my home off faster without taking risks and squeezing my cash flow?

A: Equity building and early pay off strategies often vary according to how much we owe, our income and job stability, our age and overall financial, retirement and real estate goals. There is no “one size fits all” in mortgage strategy and, JUST LIKE THERE IS NO “RULE OF THUMB” TO EVALUATE REFINANCING OPTIONS. The reality is that consumers are better off getting the benefits of a consultation with an experienced mortgage professional who understands how to present mortgage planning strategies that apply to individual situations. Sometimes when we get to the core goals and motivation behind “paying off faster” we find that the more important goal is financial expansion, flexibility or increased cash flow to be achieved by a certain time or age.

For some borrower profiles, achieving the lowest possible payment and making regular contributions to other investments that will grow at a faster rate than the mortgage interest rate will achieve their goal faster. For others the best strategy could be making one or more extra payments per year or moving to a 10, 15 or 20 year loan. If you are serious about achieving your individual real estate and mortgage goals, please call me at 831-818-7700 or send email to jchubb1@gmail to arrange for a personal consultation to assist you in formulating an individual financial and mortgage plan that will lead you more directly to achievement of your highest valued goals.

Q: Why should I opt for a “no cost” loan when I can get a lower rate by paying to buy the rate down?

A: During recessionary times like we are in today, it often makes sense to use NO COST LOANS or more accurately LOANS WITH NO BORROWER PAID CLOSING COSTS, to rachet down and eventually save the most money, take the least risk of overinvesting in your mortgage and pay the least cost over the life of individual property ownership. This is another area where individual circumstances and the achievement of individual goals can best be addressed through the formulation of an individual mortgage map or plan that will lead more directly, efficiently, and effectively to a successful outcome. Call me or send email to arrange for a consultation that could get you right to the heart of the best action plan to achieve your individual goals.

The Federal Reserve Open Market Committee stated in the last week their assurances of responding as needed to accommodate the market with rates as low as needed to combat the recession that may be bigger and longer than The Great Recession that started in 2008. This, combined with the much worse than expected jobs report, the Coronavirus Pandemic that has spun out of control due to the unmet need for an overall national strategy and the politization of the conflict of science versus individual rights, supports the strategy of taking advantage of incremental Fed moves and ratcheting down in mortgage rate WITH NO COST FIXED RATE MORTGAGES. Regardless of your politics, your view of the election or your opinion of the pandemic, the NO COST LOAN STRATEGIES MIGHT VERY WELL BE THE BEST WAY FOR YOU TO ACHIEVE YOUR INDIVIDUAL REAL ESTATE, CASH FLOW, FINANCIAL AND MORTGAGE GOALS. If you take the time to review this with me and look at ways you might achieve benefits, you may be pleasantly surprised. My goal is to help you achieve yours…