Lifestyle Mortgage Blog

Would you rather be Rich or Wealthy? Annette Bui | Updated April 26, 2020 | Lifestyle Mortgage Blog Having the right money mindset takes you a long way to distinguish yourself from the Rich vs. the Wealthy attitude. Maintaining the appropriate mindset towards money has become truly popular and got a number of folks enthusiastic about why they give thought to it the best way possible. It got me considering that it will probably be will benefit you to discover this matter even further, and speak concerning the variations between a “Rich Mentality” and a “Wealthy Mentality” There are significant distinctions between a rich vs a wealthy mindset when it comes to the following topics:    There are a number of variations between a wealthy mentality and a well to do mentality with regards to the under topics:  1. INCOME While many families believe that breaking the $100,000.00 threshold is a good benchmark for wealth when it comes to income. Then they reach that benchmar

5 Legit Virtual Jobs to Make Cash in 2020   Annette Bui| Updated July 7, 2020 | Make Money   Are you over living paycheck to paycheck and always worrying about money? Grab my FREE Budget Cheat Sheet and take control of your budget today! More and extra of us are searching for respectable online jobs that we can work remotely. It can be challenging to discover workplace jobs when you have children or other commitments and discovering an online job can provide you so much greater freedom and flexibility to earn extra money.   Affiliate Marketing Affiliate advertising is where you can earn a commission from merchandise and offerings that you recommend to your readers.   Products or Services You can create your personal merchandise or offerings and promote them thru your website, and many recommend that the fine way to make money from your blog is to do this.   Blogging You’re currently studying online blogs that earn top bloggers over $5,000 per month then you c

How do Renovation Loans work? Annette Bui | Updated July 05, 2020 | Mortgage Programs 101 The purpose of renovation loans or 203k is that it allows both homeowners and homebuyers to build the cost of doing a rehabilitation project on a house and roll it into the mortgage. The benefit of this program is that it makes the upgrade process more affordable without having to incur expensive credit card interest and maxing out your debts. You can finance the cost into your mortgage at a lower interest and have a fixed payment. Additionally, the projected renovation updates will improve the value of the collateral and better secures the lender's position. This is designed to help save both time and money for homeowners to gain access to more prospective homes rather than be limited to the homes already in good condition. How can a Renovation Loan be used? The scope of the rehabilitation loan covers expenses of a minimum of $5,000 in costs and up and can be used for virtually any up

Find out what is included in your Debt to Income and how it affects your Mortgage Annette Bui | Updated June 18, 2020 | Mortgage Programs 101 Debt to income is your monthly gross income based on the last two year average amount. This is conservatively always the base and excluding any overtime, commission, bonus unless you have at least two years history of receipt and trending upwards in the most recent year. If you have the year end paycheck stubs for the last two years, this is always the best way to be able to use the extra income. Items included in your debt to income on the front end will be the mortgage expense, taxes, insurance, association dues. Where as the backend is the total of all expenses including credit card debts (minimum payment), student loans, personal loans, child support, tax lien repayments, any solar panel payments.

How is FHA private mortgage insurance calculated? Annette Bui | Updated June 18, 2020, | Mortgage Programs 101 FHA PMI is abbreviated for private mortgage insurance that comes in two parts. The upfront one time cost added to your loan balance and the secondary is the monthly amount based on a percentage of your purchase price. PMI used to fall off once you reach 78% of your loan to value. However, the rules have been changed for some time now and unless you put 10% down on the original purchase. The PMI does remain on the loan over the lifetime. Here's the upfront portion that is the more expensive part of the program and how it is calculated. The good news is you will have two options to lower or remove this insurance by either refinancing into a conventional mortgage once you reach 20% equity or electing a one-time premium buy out option that normally may be anywhere from $3,500 to $4,500 instead of the lifetime amount you would otherwise pay.

Find out what your required income is and how it is Calculated Annette Bui | Updated June 17, 2020, | Mortgage Programs 101