Should you start an SIP or prepay a home loan?

The answer to this question depends on your own financial calculations. Let’s discuss it one by one. SIP – I am assuming that you will be starting SIP for the Equity Mutual fund. in this case, the risk is there but benefits will also be there if you keep investing for the long term. So … Read more

Can I get home loan rates without running my credit?

First, you should be aware that mortgage loan officers are primarily salespeople (including your humble question-answerer). An essential part of selling is getting the other person to commit to moving forward. From the salesperson’s standpoint, consent to run a credit report is the first step in that process. Many loan officers will tell callers shopping … Read more

Is it worth buying down interest rate points on a home loan?

It depends on the size of the mortgage, the points purchased, the reduction in interest rate for each point, and the time you plan on holding the mortgage. For example, if you have a 30-year fixed mortgage in the amount of $250,000 with an interest rate of 4%, your monthly payment will be $1,193.54. Let’s … Read more

Why does it appear that car loans have a bigger impact on a person’s credit report than home loans do?

I Should Think That Although Many People Need A Car to travel to work and Home That statistics say that More People Default On Car Payments Than Mortgage Payments As It is A Home For The mortgage Owner And His Family. There is Some Help For Mortgage Holders and Families in The UK Who Are … Read more