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Mortgage Analysis
Over the years, we have been able to save clients significant money by refinancing their mortgage or by recommending and obtaining the right program for them. There are dozens and dozens of financing programs offered by hundreds and hundreds of financial institutions.
They all are not the right ones for you. We also have arranged for clients to tap into the equity in their homes for college education, home improvements and even purchasing second homes and/or investment properties. Another financial planning tool we use is to utilize the equity in your home as a safety net, instead of doing what most financial advisers say, which is to take three to six months of expenses and put them in a savings account at a low interest rate for potential emergencies. Why tie up money when you can have a tax-deductible line of credit set up just in case? One of the major topics in financial planning is this: do you put as much money as you can into a mortgage payment to pay off your mortgage as soon as possible or do you put the minimum amount of money into your house so you don't tie up that money? This is known as fully leveraging your home or not. Some advisors are telling their clients to take out 15-year mortgages so you can be free and clear of your mortgage payments over 15 years instead of 30 years. Obviously, the payments are higher for the 15 years than the 30 years. And many loan officers are suggesting 5/1 ARMs to take advantage of the lower rates of a 5-year fixed mortgage versus the higher rates of the 30-year mortgage. Is this the right program for you? There is no right or wrong answer, just better solutions for your individual situation. Remember that the most financially-brilliant solution may not be the one you can sleep with at night. This is why it is critical to discuss mortgages with a professional who sees your whole picture, not just somebody who is out there trying to sell as many mortgages as they can. Financial advisors have a fiduciary responsibility to do the right thing for their clients. The uninformed mortgage buyer suffers in the mortgage business with higher costs and rates than the more informed or those who have a knowledgeable advocate as an advisor. Your mortgage payment and your house are most likely going to be your most significant cash flow issues and asset, resepctively, in your lifetime. Careful planning here is a must, and we can guide you with our knowledge, experience and access to loan programs. |
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Nearman Financial 1005 Cameron Street Old Town Alexandria, VA 22314 Phone: 703-683-4660 Fax: 703-683-9433 Cell: 703-587-4321 Email: Nearman Financial |
Neither the information nor any opinion contained on this website constitutes a solicitation or offer by Nearman Financial Consulting Inc. or its affiliates to buy or sell any securities, futures, options or other financial or insurance instruments or provide any investment advice or service.
Securities and advisory services offered through representatives of Lincoln Financial Securities Corporation, Member FINRA/SIPC, to residents of the District of Columbia, Virginia, Maryland, West Virginia, Georgia, Florida, Arizona, Nevada, Pennsylvania, Massachusetts and California. Nearman Financial Consulting Inc. and Lincoln Financial Securities Corporation are not affiliated. |
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