Subprime – bad interest rates (for those with bad credit) Conventional Backed by a bank Higher down payment Higher credit score Unconventional Lower down payment Backed by the gov More risk Lower credit score FHA Can be as low as 3.5% down (for first time home buyers, need to live in prop for at least […]
Most Common Loan Types: Read More »
Almost every credit card company has an app has an auto pay feature – take advantage of this On top of that, if you miss a payment, credit card companies usually don’t report that missed payment until a month later Ways to build your credit without a credit card – give yourself a loan –
Buying a home can be really intimidating for first time home buyers, so I just wanted guide you through it. First off… Do you have a stable income source? Show you have some sort of income coming in (W2) (regular 9 to 5 worker) preferred – independent contractors or self employed (1099) might have be
Step by Step Home Buying Guide Read More »
When you apply for a credit card, your approval is dependent on an algorithm For example if you’ve paid off all your credit card debt, it takes time for credit card companies to report that to the bureau’s If they haven’t updated your credit score, the algorithm probably isn’t going to approve you for the credit card you’re applying
What to do if you’re denied for a Credit Card? Read More »
Deed Vs. Title Deed Deed is evidence of the transfer Think of it as your receipt for buying a home A Deed is tangible Title Title is your actual ownership interest in the property Title is intangible What is a Mortgage? Technically a mortgage is not a loan per se A mortgage is the act of pledging your home as collateral
Real Estate: What is a Mortgage, Deed, and Title? Read More »
Although these terms are used interchangeably they CAN mean different things What is a Real Estate Agent? A Real Estate Agent is someone who has their Real Estate Salesperson license In the state of NY this means they must have completed a 75 hours pre licensing course, taken and passed the proctored exam final, and passed the state exam.
Realtor, Agent, Broker – What’s the Difference? Read More »
First of what does it mean to refinance? In simple terms, refinancing means replace an old debt with a new debt. If you’re making all your monthly payments on time, the banks might be willing to work with you and get you better rates. What is home Equity? Simply put, home equity is the amount
Cash Out Refinance vs. Home Equity Line of Credit vs. Home Equity Loan Read More »
Saving for a Roth IRA – Pro’s and Con’s – Anyone can do this, you can do it online for free – it’s not as complicated as you think Pro’s Can contribute up to $6000 every year You CAN withdraw initial contributions You can use your Roth IRA money to buy a home If you
Planning for Retirement – A Roth IRA Read More »
Outsourcing – if you’ve scaled your business enough CPA – pay now to save money on taxes later – also pick their brains and reach out to them any time you have questions Real Estate Agent (obviously I’m biased here) Online courses Your number one asset it time – Invest your time by shadowing someone
What Should You Invest in? Read More »
Here a some quick and digestible investing tips: What do you know about the company? – Invest in companies you understand Is it gonna be here 20 years from now? Do you use their product? What is your risk tolerance Do research and due diligence – DO NOT GET INTO THE TRAP OF CONFORMATION BIAS
