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Suze’s Blog & News

Jun
23

Step 4: Closing the Deal: Scour your all-in Mortgage Costs

June 23, 2016
It takes a hefty wad of money to get a mortgage. It’s typical for all the fees associated with securing a mortgage—called Closing Costs-to add up to 2% or more of the loan. That’s a stiff $4,000 or so on a $200,000 mortgage.
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Jun
16

Step 3: Get to the Point: When It Pays to Buy Down Your Mortgage

June 16, 2016
Lenders like to give home borrowers choices when it comes to their mortgage rate. You’ll always be presented with a standard rate: what you qualify for based on how the lender sizes up your financial profile (credit score, income, debts etc.) And then you will also be presented with some options to “buy down” or reduce that interest rate.
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Jun
09

Suze’s Mortgage Tip #2: Know the Down Side of Making a Small Low Down Payment.

June 09, 2016
My absolute best advice is to strive to make a 20% down payment when you buy a home. I know that can be a lot of money. But hear me out. What you need to understand is that a small down payment can end up costing you big time.
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Jun
02

Suze’s Mortgage Tip #1: Shop Around

June 02, 2016
It amazes me that so many homebuyers who spent weeks, if not months, hunting around for the best home, don’t shop around as diligently for the best mortgage. According to the Consumer Financial Protection Bureau about seven in 10 homebuyers just apply to one lender. That’s insane! This is likely the biggest purchase of your life, and you aren’t going to make sure you comparison shop to save money? C’mon.
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May
26

Why I Don’t Like Weddings

May 26, 2016
Weddings bring out the worst in our bad-money habits. I have known too many couples that have gone into credit card debt to pay for a wedding. Love doesn’t mean paying 15% interest-or more!-for a special day. And I have seen way too many parents nearing retirement who pull money out of their retirement savings, or stop contributing to their retirement accounts for a year or two, or use a home equity line of credit to pay for a child’s wedding. That is insane. Love never means having to jeopardize your future to pay for a wedding.
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Suze Orman
People First. Then Money. Then Things.
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