If you’re a renter, you might find yourself considering whether you should buy a home instead- especially when your lease is about to expire. But it’s not always as simple as paying rent versus paying a mortgage. When you’re thinking about making the leap to homeownership, consider some of the factors that might come into play. Cost Of course, money will be a top consideration as you weigh your options. Be realistic about what you can afford. Homeownership isn’t just about th

The complexity of the mortgage process can make searching for and securing a loan difficult and confusing. There are many considerations to be made by both the lender and the borrower and finding a match may seem difficult. One relevant complication is that you may find cases where your mortgage lender does not service your loan. While this isn’t a terribly significant issue, it can add some inconvenience and confusion to a process that doesn’t need more hurdles. What is the

Generally when you apply for a home loan, you often need to provide your W-2’s and tax returns. But what if you don’t have those? Luckily, there are other options. Bank statement loans are a type of loan that allows you to get a mortgage without the documents that most loans need to prove your income. They are also known as “self-employed mortgages”, “alternative documentation loans”, or "Non-QM loans". Bank statement loans can be used if you work for yourself or own a busine

Last week we went over the provisions of the SECURE Act 2.0 that affected employers, both small and large. This week, we’ll dive into the provisions that affect plan participants, as well as student loans, savings and emergencies. Provisions For Plan Participants New RMD Start Date SECURE 2.0 pushes back the beginning date for required minimum distributions from qualified plans. Individuals turning age 72 during 2023 or later will start their RMD at age 73. For those reaching

1. Dryer Vents If a washer and dryer are blocking the vents, chances are home inspectors are going to miss it. Some vents are so clogged, the dryer won’t even dry clothes. This also creates a fire hazard. If vents are relatively easy to access and straight enough, you can clean them yourself, but you may need to hire a professional. 2. Faulty Major Appliances Major appliances usually have a decent shelf life, but even if home inspectors say they are functioning , proceed with

1. Update beneficiaries and passwords When there is a change in your family such as the loss of a family member, divorce, or birth of a child, you should consider adjusting your beneficiaries on each of your accounts. Beneficiaries can be updated for your retirement accounts, as well as life insurance and even some savings accounts. You may also want to consider updating the passwords to your financial accounts for added security. 2. Review your tax withholdings If you’ve had

For years you’ve been imagining all the things you’ll do in your retirement. Travel the world. Restore a classic car. Start a garden. Spend time with your kids and grandkids. Whatever you hope to do once you stop working, you’ve probably thought about it a lot. Have you considered the statistic that 52 percent of people turning 65 today will eventually need some form of long-term care (LTC) in their lifetimes? For many people, the possible need for future long term care can b

The three most important aspects to consider in retirement must be equally strong, support each other and work together to achieve balance, just like a three-legged stool. Here are three legs, one just as important as the next. Lifetime Income How can I position my retirement nest egg so that funds last as long as I live? A strategy involving a lifetime income stream is important when designing a balanced approach. Long-term care Who will take care of me if I can no longer ca

Did you know that just one inch of water can cause $25,000 in damage, according to FEMA? Did you know that every single house in the entire country is in a FEMA flood zone? It’s just that some flood zones are worse than others. You can check which flood zone your home is in by visiting FEMA.gov. Do I need Flood Insurance? No matter where you live in Washington State, flood insurance must be purchased as a separate, stand-alone policy because flood damage is typically not cove

After years of making memories in your home, you’re ready to sell it and want to do it right. Here are a few things to do when you are getting ready to sell your home so that you can optimize value, save time and money, and attract the right buyers for your beloved home. Declutter The first and more obvious benefit to decluttering is that it will make packing and moving much less of a hassle. The other benefit is that buyers love to see space and storage. The more space, the