Money troubles are one of the main reasons that couples split up. Perhaps your trusted mortgage professional can help. Here are three suggestions that we have to keep peace within your relationship.
1) Try the new 50/50 mortgage.
Growing with popular demand, some lenders are now offering a mortgage product that offers the best of both worlds. Half of your mortgage is fixed, and half of it is variable. Which provides security and stability and at the same time can take advantage of a lower variable rate.
2) Consolidate to improve your cash flow.
If money is tight, why not look into lowering your monthly payments by cosolidating them into one loan. Mortgage rates are historically low which makes financial sense to tranfer your debts.
3) Buy within your budget.
When couples are looking to buy, one has ideas of what they want the house to look like while the other partner has ideas on what the pocket book should look like. It can be tough to balance these two sides, however the house can be changed/renovated. Your monthly payment cannot. Before you make a new home purchase amke sure to discuss how much you are willing to spend per month, then we can work backwards to calculate how much mortgage you can afford and therefore how much of a house you should buy.
Just some food for thought.
Tuesday, June 7, 2011
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