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05 Mar 2020
By 24hr Mortgage

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

Mortgage, ,
In the overwhelming majority of the 50 largest cities across the U.S., monthly rent is more than the mortgage payment for single-family homes. In several cases, much more.  Global answering service and chat support company Moneypenny compiled data from Zillow on median rent and mortgage payments from July 2014-July 2019. In order to calculate the monthly mortgage payments, Moneypenny took the median home sale prices during the same time period and in the same major cities and then used nationally-average mortgage terms: 30-year fixed rate at 4% with approximately 6% down.  Once the two figures -- median monthly rent and median…
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04 Mar 2020
By 24hr Mortgage

5 Essential Questions Real Estate Investors Should Ask Before Making An Offer

Real Estate, ,
Real estate investing is not only a great way to diversify assets but can also be used to generate both income and capital appreciation. While this is a fantastic opportunity, it is also important to choose investment projects carefully. It is critical to ask the right questions before making an offer on an investment property. Why Is The Building On The Market? There is a reason why the property is on the market. It is important to know the answer to this question. Sometimes, the house is on the market purely because the owner is moving for job or family…
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03 Mar 2020
By 24hr Mortgage

How To Keep Records For Your Real Estate Business

Real Estate, ,
Anyone who is looking to build a successful real estate business needs to keep meticulous records. When buying and selling property, there are a lot of tax and legal responsibilities. While some people may not want to think about this issue, the IRS may audit a real estate business. In this case, it is critical to have documentation that demonstrates proof of income as well as any credits or deductions that might have been claimed. Some of the most common deductions that are claimed in the real estate business include depreciation, mortgage interest, repairs, insurance premiums, administrative costs, and property…
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02 Mar 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week -March 2nd, 2020

Financial Reports, ,
Economic readings released last week included Case-Shiller and FHFA Home Price Indices and reports on new and pending home sales. The week wrapped up with a report on consumer sentiment and weekly readings on mortgage rates and new jobless claims. Case-Shiller, FHFA Report Faster Home Price Growth Home prices rose by 3.80 percent year-over-year in December according to Case-Shiller’s National Home Price Index. Case-Shiller’s 20-City Home Price Index rose by 2.90 percent year-over-year in December as compared to November’s reading of a 3.50 percent gain over-over-year; Case-Shiller reported 0.40 percent growth in home prices from month-to-month. The 20-City Home Price…
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28 Feb 2020
By 24hr Mortgage

Should I Pay Off My Mortgage Or Invest the Money?

Mortgage, ,
To understand what to do with a windfall or extra disposable income when it comes to paying down a mortgage or investing the money, we need to discuss and understand the concept of opportunity cost. What Is Opportunity Cost? The concept of opportunity cost takes into consideration the total financial impact of the use of funds when applied in different ways, to be able to compare the effectiveness of how it is best to use them. The opportunity cost considers the risks involved, the potential reward, as well as the tax implications of the choices. Risk Versus Reward Evaluation All…
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27 Feb 2020
By 24hr Mortgage

Find The Best Mortgage Deal With A Few Simple Steps

Mortgage, ,
Currently, this is a great time to be in the market for a new home. The interest rates on mortgages have fallen countless times over the past few years. Even though interest rates have been in the double-digits in the past, there are homeowners today who are able to agree to a mortgage for less than three percent.  Despite the low interest rates, it is still important to get the best possible deal. There are a few simple steps that everyone should follow to get the best mortgage deal possible. Know How Much You Need The first step is to…
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