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Mortgage Minute – Understanding how a mortgage works
Understanding how a mortgage works helps you get ahead in the financial game. A mortgage is a debt paid over time unlike rent that can be adjusted (usually increased not decreased) at the whim of the landlord, the mortgage is a contract with set terms. Yes it’s...
What is the impact of interest rates on prices, qualifying and cash flow and how to know which is too high?
In June 2021 the 30 year fixed hit it’s lowest in history for a blip at 2.375% 30 year fixed owner occupied confirming loan limit which at the time was $546,000. A mortgage of $546,000 at 2.375% 30 year fixed conforming rate gave you a payment of $2122.04. If you...
What is a Homeowners’ Exemption
Success Story: What is a homeowners' $7000 tax exemption, and do I have that? The Homeowners' exemption is a property tax reduction given to you by the entity which calculates or assesses your tax amount. Here it's LA county tax assessor who does this. As a...