If you’re buying a home anytime soon, here’s some contrarian advice: Don’t take out a fixed-rate mortgage. If you do, you’re likely to pay more than you need to.
Instead, it often makes more sense to choose a floating-rate note, also known as an adjustable-rate mortgage. Even on a small mortgage, over time you’ll save thousands of dollars. If you use the extra cash to pay down the loan, you’ll save even more.
The City of Del Mar recently announced that the City and the Del Sol Lions have teamed-up to collect new and gently used blankets and jackets for the annual Holiday Baskets Program.
San Diego teen Steven Liu jumped off the bridge in front of Otay Ranch High School in Chula Vista on Nov. 1. Friends said the 17-year-old was a victim of bullying. Some school officials said they don’t think bullying was the reason he committed suicide.
Bullying and cyberbullying has become a hot topic, and was one of many issues “America’s Most Wanted” host John Walsh discussed during a “Girls World Expo” seminar Nov. 3 at the Del Mar Fairgrounds.
Today’s underwriting rules can be fairly stringent on which income can be counted and how it is calculated. For example, income such as overtime, commission and bonus income must have a 2 year history of receipt and your employer must state that it is likely to continue in order to be included in qualifying for a home loan.
Your child or family member may feel they can afford the monthly payments but with today’s underwriting rules, they may need your assistance to help them qualify for new home financing.