Monday, December 16, 2013

The Pros and Cons of making a biweekly mortgage payment

Have you ever considered paying off the mortgage on your home in two biweekly payments rather than one monthly payment? It might seem like this wouldn't make a difference, but the truth is that biweekly payments really do add up more quickly.   Since there are 52 weeks in a year you will end up making 26 payments in total – which is equal to 13 months rather than 12. This means that your mortgage will be paid off more quickly and you will save money on interest payments in the long run.  This arrangement might be the best for you when it comes to paying off your mortgage quickly and saving money, but it’s important to consider the possible disadvantages before you make the decision.

Cons of a Biweekly Mortgage Payment
  • ·                  Often lenders do not offer biweekly services free of charge. You will be required to pay a registration fee as well as paying biweekly charges.
  • ·                  If your budget doesn’t allow the room to pay more toward your mortgage every year, this could be a foolish move. Don’t neglect the importance of having an emergency savings fund or paying your bills.
  • ·                  If you have your mortgage payment set up via direct debit from your bank account, taking out a payment every two weeks could catch you out if the funds are not there, especially if you are only paid once per month. This would result in charges for insufficient funds from both your lender and your bank.

Pros of a Biweekly Mortgage Payment
  • ·                  Some people find that paying their mortgage biweekly fits better into their budget because it’s easier to plan for a smaller payment amount – especially if they are paid every two weeks.
  • ·                  By shaving years off the length of your mortgage, you are reducing the amount of money you will pay over the long run.
  • ·                  You will also be speeding up the time it takes to build equity in your home.
  • ·                  You will be compelled to make an extra mortgage payment per year, enforcing good habits on yourself that will eventually pay off.

·                  These are just a few factors to consider before deciding whether you should make biweekly payments on your mortgage. If you don’t want to commit to biweekly payments on your home mortgage, you can always save up your money and make a lump sum payment at the end of the year.
For more tips and advice,  Let me know you need some questions answered and I will get you in touch with the right people.   Getting a mortgage is one of the biggest financial obligations you will do, so doing your research is very important.  

Thursday, December 5, 2013

December 2013 newsletter

3 National Housing Market Trends

After hitting post-recession highs, existing-home sales declined in September. According to the National Association of Realtors, total existing-home sales were down 1.9 percent from August to September. Yet for the past 27 months, sales have stayed above year-ago levels, and September proved to be no exception; sales are still 10.7 percent above the pace set at the same time last year. The Northeast saw a sales decline of 2.8 percent but managed to surpass last year's... Read More

Remodeling Market Index Highest
Since 2004

More homeowners are upgrading their homes' windows and installing their dream kitchens. For the second quarter in a row, the Remodeling Market Index has climbed. According to the National Association of Home Builders, the RMI has risen by a modest two points to 57. This is the highest the index has reached since the first quarter of 2004. The index measures the optimism of remodelers in regards to the current and future state of the remodeling market. A reading above 50... Read More

Remodeling Projects That Give a Good Return on Investment

Are you considering selling your home now or in the near future? Choose remodeling projects that will give you a good return on your investment. Remember to stick with colors and finishes that are crowd pleasers, rather than looks that are more polarizing.

Install new exterior doors.
A new exterior door provides great curb appeal that potential buyers will appreciate. Safety-minded buyers will appreciate a steel safety door on the front and back of the house, which resists forced entry much better than traditional doors... Read More

Wednesday, December 4, 2013

Salvation Army Giving back to those that need it...

Giving back to the community is something I really believe in, if you are in the area of Higley and Germann today come by the  Frys @ 6470 S. Higley Road, Gilbert 85298- come by and see me!  :)

If you have Kids or Grand kids we are doing some fun stuff to keep them entertained!!