Is An FHA-Insured Mortgage What You Need?
One of the few blessings to come out of the Great Depression was the FHA-insured loan. Although, contrary to what many think, it wasn’t created to help low-income buyers get into homeownership. Just as during our recent recession, in the Great Depression foreclosure rates skyrocketed, leaving lenders in the lurch. The FHA-insured loan was created […]
USDA Guaranteed Housing Loans – Still 0% Down!!!
The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural home buyers achieve their dream of home ownership! USDA Rural Development uses approved local lenders to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. These federally guaranteed […]
Financial Fitness Friday – Invest For Retirement
Baby Step # 4 – Invest 15% of your Household Income into ROTH IRA’s and Pre-Tax Retirement. By the time you get to Baby Step #4 you have paid off all of your debt except for your house. You have fully funded your emergency fund with three to six months of living expenses and you’re feeling […]
Financial Fitness Friday – Three to Six Months of Expenses in Savings
Baby Step # 3 – Three to Six Months of Expenses in Savings In Baby Step #1 we talked about putting $1000 in your emergency fund because Jesus warned us, “in this life, you will have trouble.” We also defined an emergency as an UNEXPECTED EVENT THAT YOU CAN’T PLAN FOR. Your $1000 emergency fund was designed […]
Financial Fitness Friday – $1000 Emergency Fund
Baby Step # 1 – $1000 Emergency Fund To understand the concept of the $1000 Emergency Fund check out this video. (Really… Watch the video. I know it’s kind of weird but you’ll get it later.) [youtube=http://youtu.be/qymzkBlZ4bs] An emergency fund is like the toilet in the video and is for those unexpected events in life […]