Wife on Mortgage with Parents – Can we buy a home? Hi guys! I’m in a bit of a pickle / a bit confused on this, and would really appreciate any insight. I’m recently married, and employed full-time. My wife is a student, and has no income, but is accumulating student loans. She also co-signed with her parents on her parents’ second house, about 2 years ago (before we were married). When I asked h…

Help parents pay for mortgage or save up? Some context: I make around 130K in a HCOL area. I have around 50k in a high-yield savings account. No spouse and little debt. I save 1k monthly into the savings account (saving towards home downpayment). My parents live in another state and are still working, but are hoping they can retire in 5-10 years. They live in our family home; they are c…

Should I pay off my 4% mortgage when I hit age 65 I’ll be 65 in a few years living in a VHCOL area. I will have 15 years left on my mortgage at age 65. I’ll have enough assets to pay it off in full and still be very comfortable financially, but at 4% it doesn’t feel like I need to. The value of my house probably grow at or above inflation of 3%. I have enough cash flow to either pay the mortg…

Investing into your mortgage Hey everyone! Suppose I had a mortgage with a 7% rate. If I make extra payments towards the principal each month, is this equivalent to investing that money into a fund with a guaranteed 7% return? submitted by /u/baltastro

Is it worth paying $1000 twice a year as extra payment for my mortgage Hello, Wondering if paying 2 extra payments a year of $1000 towards my mortgage payment will reduce my years of mortgage good enough.Or investing that money towards some index funds is a good idea? submitted by /u/tvvijay75

Pay off the mortgage or invest? Where to invest 150k My wife is in her mid thirties and is a semi stay at home mom. I’m in my mid forties. We own an e-commerce business that she dedicates a few hours a day. I work at a fairly large company and make around 65k a year, with 20% going to a 401k. The 401k is sitting at 80k. The business will do about 600k in sales this year. 25% …

Is 40-45% of my takehome pay too much to spend for a mortgage? I currently have been living with my parents since finishing college and have been saving up to move out to a condo or townhouse. I make $80,000 a year, and have about 90K saved up for a down payment, closing costs, and potentially a rate buy down. It looks like I can get a decent 2bd 2ba for around 300K-340K, but most HOAs are looking to be aro…

Mortgage question when having cash versus investing Learker here, first time posting. My wife and I have enough cash on hand to pay our current mortgage off, 3.0% 30 year fixed, ~198k left. We can currently afford the payment. I am debating paying it off this upcoming year or letting the cash earn interest and “covering” the p/i portions. I am unsure about managing the county taxes and insurance …

6.125% Mortgage or invest? I have an extra $30k this year and not sure how best to utilize it. I live in CA and mortgage is around $950k, 6.125%. Do I reinvest the $30k into my brokerage or pay down my mortgage a little? For background, I (30F, single) am currently not maxing out my 401k (just getting $15k company match) due to the monthly mortgage payment. I do max out …

Temporary Mortgage Relief Wife and I both work, im full time shes part time. In the last few months, weve had more than our usual share of unexpected expenses come up (home repairs, kids medical issues) and its put a strain on our finances big time. Are there any programs that banks/lenders have that would let us take a month (or maybe 2, 3) of a break in payments to get…

Mortgage with breakup Short story – We’re both on the deed, I’m on the mortgage with a 2.9% interest rate purchased in 2021. House is on 1 acre, valued at about 299k with 204k remaining. $1,239 mortgage payment. Would you advise to sell or take out a HELCO loan to buyout the other persons half of the house and do a quit deed claim? Emotions aside. I know, it wasn’t…

Paying down my mortgage while on fixed income? 30 M. Here is my situation: I have 110k remaining in my mortgage, 30 year loan with an interest rate at around 7%. I have approx.160k in liquid savings (not including retirement). I would like to pay off the rest of the mortgage fast as possible, and I was able to be aggressive with it while working a salaried role. This year I have returned to …

Put everything I have outside of retirement on mortgage? For the last near decade I’ve lived a very modest life. Spending very little money on any pleasure. I’ve lived with family and saved essentially everything and have amassed $200k in a HYSA and another $150k invested in a taxable brokerage account, on top of my retirement funding. Capital gains in the taxable are only around $25k, as I recently s…

I am retiring early: Is it wise to payoff my mortgage with my retirement account? I am in my early 40’s, retiring from a municipal employer with a disability. I will collect a pension, and a settlement for my injury, nothing life changing. This is an unplanned, and under prepared retirement, and we are struggling to get our life quickly in balance. We would like to take a large chunk of our savings/settlement to pay off some…

Paying off grandmothers mortgage. I’m looking for routes and advice to go about helping my grandmother pay off her mortgage. She is 88 years old this year and still has a balance on her mortgage from refinancing to help buy a house for another family member many years ago. She is worried that it wont be paid off by the time she passes and worries about what will happen to her pl…

How can I calculate how much mortgage I can afford? I have no debts. I have a good job. I have an idea of how much I can spend a month, but not clear. For example, there’s the 28% rule. But I don’t see how ANYBODY can make that happen these days. After that, there are a lot of calculators but they all ask for monthly debt. I probably spend $1500-2000 a month on my credit card and pay it off every…

Extra $50k Mortgage payment or investment So I have $50k cash from a bonus, and we recently bought a house (Midwest area) with mortgage rate as 6.375, and we already put down 25% downpayment of a $550k house. What would you do with the $50k? submitted by /u/ssmhty

Mortgage of 2300 vs rent of 1100 My wife and I are looking at homes near us around low to mid 300s (Cleveland area) that would put the mortgage/property taxes/insurance in the low to mid 2000s. We have 100k in savings so we could do 20% down and also have a savings cushion. But, we have great rent right now of a 3bd 1.5 bath townhouse of 1.1k with 250 for utilities/insurance th…

Make overpayments on mortgage or not Context: I am on the help the buy scheme (20% equity loan) on a £300k property. 2% rate expiring 2027. Want to buy a home with partner once that expires. House to purchase likely to be in the £450-500k range in this current housing market. Do I make 10% overpayments now until expiry of current mortgage term to lower the principal and simultaneo…

Need advice on refinancing mortgage I’m going to need to refinance my mortgage this spring to get the cosigner off of it. I know I’m going to take a hit on interest, but I don’t have other options, so I’m trying to minimize the bleeding. My big thing right now is that I only have about 6 months left on my car loan. I had been planning to pay that off with my Xmas bonus this year, …