Just a BABY 3 months old crying in fear in the EU room! Dumped at a full KILL shelter by owners

While most people must finance, in order to be able to purchase a home, there are some who have the funds, to make a cash deal . It might be that the property is relatively inexpensive, they are down - sizing, have recently sold another house, or have lots of other liquid assets. While some may counsel to reduce debt, and in most forms of debt, I would agree, there are many reasons this advice does not apply to a home loan, or mortgage. Let's review 5 advantages of carrying a mortgage, while realizing the major reason not to, is reducing one's monthly carrying charges/ fixed expenses.

1. Opportunity cost of money: Many have heard this expression, but fail to fully realize what it means, or don't believe it applies to them. Ask yourself, might it make more sense, to maintain one's funds, and invest them separately, and take out a mortgage. Especially today, when mortgage interest rates still remain close to historic lows, borrowing permits one to purchase more house than he might otherwise be able to. In addition, might it not make sense, to diversify one's portfolio, and position himself for a brighter financial future? Many factors might impact this decision, including: one's comfort zone; future plans; age; personal situation; expectations; and anticipated future needs. However, it is important to keep in mind this essential, opportunity cost of money!

2. Cash flow: If you are paying 4.5% as your mortgage rate, and effectively paying quite a bit less because of tax considerations, and you believe you can, over time, generate more from your investments, doesn't a mortgage make sense. If you aren't sure, you can always make a larger downpayment, or add additional principal paybacks to your monthly payment, and still enjoy some of the benefits.

3. Tax deductible/ tax advantages: Mortgage interest is tax deductible, and thus costs you considerably less than any other form of loan. Reduce your other debts with higher, non - deductible interest, while carrying a mortgage. If you are in the 30% tax bracket, for example, your effective interest rate on a 4.5% mortgage is only 3.15%, etc.

4. Escrow: When you have a mortgage, most lending institutions will also charge and keep an escrow account, in order to pay the real estate taxes, insurance, etc. You won't have to worry about remembering to make a real estate tax payment, and getting a late charge/ penalty, because the loaner will pay this out of your account. And. your escrow account will even receive dividends on the balance.

5. You can pre - pay: Many ask if they should carry a 30 - year or, for example, a 15 - year mortgage period. My suggestion for most, is to take out the longer - term, so you have the ability to pay the lower amount monthly, but make additional principal payments (e.g. add $100 per payment), to reduce the payback period. There is no pre - payment penalty for the vast majority of mortgages!

Understand mortgages, and your mortgage options, from the onset. Do what makes the most sense for you!


3 months old pup is just a BABY and he’s crying in fear in the EU room! Dumped at a full KILL shelter by owners who didn’t want to deal with a puppy, He needs a miracle!

Lancaster CA - #A5230392
I don't have a name yet and I'm an approximately 3 months old male pit bull. I am not yet neutered. I have been at the Lancaster Animal Care Center since October 23, 2018. You can visit me at my temporary home L905.

Lancaster Animal Care Center
5210 West Avenue I, Lancaster, CA 93536
(661) 940-4191


STATUS : - read comment for update from crossposter
The vast majority of homeowners purchase their homes, with the assistance and use of some sort of mortgage. Especially, today, where home prices are at the level they are, in most areas of the country, few individuals are either ready, willing, able or capable of paying cash for a house. In addition, with the low mortgage rates available, it would be wise, for most, to borrow, in this way! When the housing crisis occurred around 2008, to a large degree, because of how mortgages had been handled, stricter requirements were implemented, and thus, CREDIT and credit - worthiness, is one of the most relevant issues, regarding acquiring a mortgage. It is often the key to the entire process.

1. Credit reports; creative; check: Before a potential homeowner begins the process of looking at potential houses, he should sit down with a qualified, recommended, trusted, mortgage professional. Have this individual check out if you qualify, and for how much! Don't ask for a pre - qualification, but rather seek a pre - approval! Even before you visit this individual, acquire a copy of your Credit report. You are entitled to receive this once per year (free), so get it, look at it carefully, and correct any errors, etc. Use creative thinking to consider the best approach for you!

2. Reduce debt: Reduce the amount of debt you have, prior to applying. One of the metrics lending institutions use, is the ratio of debt to income, so pay off as much of your credit card debt, as possible, and avoid using these cards, until you close on your new home!

3. Earnings: Review your last two years tax returns, and see if you show sufficient earnings to qualified for the amount you will need. Again, earnings are a major component in the ratio, so perhaps you might avoid using certain tax credits, for a couple of years, prior to applying.

4. Debt ratios: There are at least two types of debt ratios, lending institutions consider and look at. One is the monthly mortgage carrying amount, to net income. The other is total debt, to income. Discuss these carefully with your mortgage professional, prior to beginning the application process!

5. Interest: What is the mortgage interest rate? Today's low rates might mean you will be able to qualify for a higher priced home, because every percent of interest translates to a significant difference, in the costs!

6. Tax treatment: If you are currently renting your home, you know how much you pay monthly, and how comfortable that amount might be for you! When you own your home, remember that mortgage interest and taxes are tax - deductible from your income taxes, so if your area of the country has higher state income taxes, that might make owning even more attractive. For example, if you are currently paying $2,500 per month rent, and you are in the 30% federal and state income bracket, your net cost, when owning, might be about one thousand dollar more than renting, and be the same out - of - pocket, after taxes.

How is your CREDIT? Know it, and use it, to your best advantage!

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