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What’s The Best Way To Pay My Mortgage Off Earlier? Paying your mortgage off faster makes you more secure, and saves you tens of thousands of dollars (possibly hundreds of thousands) in interest. If you could knock 5 or more years off your mortgage, that’s 5 years sooner you can retire, or 5 years’ worth of payments you can use to enjoy your retirement. Here are five common approaches to accelerating your mortgage. The one you choose depends on your financial situation.
A bidding war occurs when a home seller gets multiple offers. Since bidding wars are fairly common these days, it pays to plan ahead. You’ll reduce surprises and stress, and be better prepared to negotiate. For instance, I tell both my buyers and sellers to think about how sellers can respond to multiple offers. Sellers have four options: 1. Counter all offers by asking for a “best and final” offer. Then choose the best. 2. Accept one of the offers outright. 3. Pick a few offers to negotiate individually. 4. Reject all offers and wait for new ones. (It happens rarely.)
• Divide a single payment by 12. Add that amount to each monthly payment to make one extra payment a year. • Make an extra house payment quarterly to pay off a mortgage as much as 10 years earlier. • Pay half of your payment every two weeks, also known as bi-weekly payments. • Round up your payments so you’re paying at least a few extra dollars a month. • Increase your payment when you get a raise, bonus, or other windfall. Call if you need a referral to a superior lender to discuss your options.
How Purchasing Power Falls as Mortgage Rates Rise
A rate increase could harm your buying power more than increasing home prices. If the mortgage interest rates Other details that can affect the offer: rose by 1%, the effect would be the same as if a house rose by 10% in price! For • Sellers realize that the highest offer isn’t always the best offer. example, suppose you were qualified to Terms can also make a big difference. spend $1,200 on a mortgage payment, • Sellers know the appraisal could be a problem. Just because they with a 30-year fixed interest rate of 4.5%, and a 20% down payment. With all that, accept a huge offer, doesn’t mean the appraiser will agree. Sellers you could afford a home of $295,000. may ask for funds to make up the difference. • Buyers can consider adding an escalation clause to their offer, Now, raise the rate just 1% to 5.5%. Your buying power would drop by $30,000! which says they will automatically increase their offer by some You would only be able to afford a home of $265,000. For this reason, amount over and above the highest bidder, up to a certain cap. it’s important to grab the lowest rate you can now, while rates are still low. I help my clients prepare for these and other scenarios during our What about Waiting for Prices to Drop? pre-buying or pre-selling appointment. Contact me today to set up Even though property values may drop in coming months and years (though a consultation. they are just as likely to remain stable), your purchasing power may drop faster than home prices as interest rates begin to climb. Barring unforeseen circumstances, the real estate market will likely remain strong for years to come. Got Spring Cleaning? If you’re waiting for prices to fall before buying, you may be waiting a long time. Meanwhile you’re missing out on building equity and living in your own home. If you’re still working through spring maintenance, I can recommend top quality service providers to help out, including handymen, Call to set up an initial consultation with me. I’ll take all the time you need to electricians, landscapers, and carpet cleaners. answer your home buying questions thoroughly.
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www.BREMove.com
May. 2021 • Issue No. 25
Things To Do At Home
Featured Recipe
Coming Soon To Netflix
Mother’s Day Pop-up Shop EventBrite.Com May 8th, 2021.
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Piri-Piri Meatballs Prep Time: 15 min • Cook Time: 10 min • Total time: 25 min
Bike To Work Day
Ingredients • • • • • • • • • • • •
½ cup jarred roasted red peppers, drained 1 red Fresno chile, stemmed, seeded 4 Tbsp. extra-virgin olive oil, plus more for drizzling 2 Tbsp. red wine vinegar 3¼ tsp. kosher salt 1½ tsp. smoked paprika ⅔ cup panko 1 large egg 2 garlic cloves, finely grated ¾ tsp. ground cumin 1 lb. ground beef, divided ¾ cup whole-milk Greek yogurt
Directions
1. Purée red peppers, chile, garlic, oil, vinegar, salt, and paprika. 2. Preheat oven to 450°. Mix panko, 2 Tbsp. sauce, and 1 Tbsp. water. Add egg and mash together until homogenous. Let sit until softened. Add garlic, salt, cumin, paprika, and 1 Tbsp. oil. Stir to incorporate. Add about one-third of ground beef and work into mixture. Add remaining beef and combine until evenly dispersed. 3. Form ground beef mixture into balls. Space on baking sheet. 4. Bake meatballs 5 minutes, then turn and broil until golden brown and just barely cooked through. 5. Spread yogurt among plates. Arrange meatballs on top. Drizzle with remaining piri-piri sauce and oil.
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Join thousands of commuters for the 20th celebration of bicycling as a fun, healthy, and environmentally-friendly way to get to work. Riders can find work day pit stops around the metropolitan region in DC, MD, and VA.
Blue Angels Cruise
The Whole Truth
The Woman in the Window
Available for Streaming May 1st, 2021.
Available for Streaming May 14th, 2021.
A defense attorney works to get his teenage client acquitted of murdering his wealthy father.
An agoraphobic woman living alone in New York begins spying on her new neighbors, only to witness a disturbing act of violence.
Jupiter’s Legacy (Season 1)
Army of the Dead
Available for Streaming May 7th, 2021.
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The first generation of superheroes kept the world safe. Now their children must live up to the legacy in a drama that spans decades and navigates the dynamics of family, power and loyalty.
Following a zombie outbreak in Las Vegas, a group of mercenaries take the ultimate gamble, venturing into the quarantine zone to pull off the greatest heist ever attempted.
Oxygen
The Kominsky Method (Season 3)
Available for Streaming May 12th, 2021.
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A woman wakes in a cryogenic chamber with no recollection of how she got there, and must find a way out before running out of air.
An aging actor, who long ago enjoyed a brush with fame, makes his living as an acting coach.Sandy has to navigate what aging looks like without his longtime friend Norman by his side.
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Experience these Navy pilots as they streak across Annapolis to celebrate Naval Academy graduates. Watch this air show from the best seat in town! There’s no better way to see this spectacular performance than on the water.
Coming Soon To On Demand
Quiz Question
Coming Soon To Amazon Prime The Boy From Medellin
P!nk: All I Know So Far
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Colombian reggaeton singer J Balvin prepares for his 2019 homecoming concert amid intense political turmoil, in Matthew Heineman’s latest documentary.
A behind-the-scenes look at P!NK as she balances family and life on the road, leading up to her first Wembley Stadium performance on 2019’s “Beautiful Trauma” world tour.
New York Yankees at Baltimore Orioles
Toofaan
Available for Streaming May 14th, 2021.
The New York Yankees partnered with Amazon to stream two dozen games during the 2021 regular season. Watch the Yankees at Camden Yards LIVE.
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Mainstream
The Djinn
Available for Streaming May 7th, 2021.
Available for Streaming May 14th, 2021.
In this cautionary tale, three people struggle to preserve their identities as they form an eccentric love triangle within the fast-moving internet age.
A mute boy is trapped in his apartment with a sinister monster when he makes a wish to fulfill his heart’s greatest desire.
APRIL QUIZ QUESTION: What are the Spring Zodiac Signs?
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Sports drama film directed by Rakeysh Omprakash Mehra and starring Farhan Akhtar as a national level boxer.
The Underground Railroad
Panic
Available for Streaming May 14th, 2021.
Available for Streaming May 28th, 2021.
After escaping a Georgia plantation, Cora boards a train embarking on a harrowing trip as she seeks true freedom while being hunted by a notorious slave catcher.
Teenagers compete in a dangerous game where they can win a chance to escape their small rural town.
Those Who Wish Me Dead
The Dry
Available for Streaming May 14th, 2021.
Available for Streaming May 21st, 2021.
A teenage murder witness is pursued by assassins in the Montana wilderness with a survival expert protecting him - and a forest fire threatening to consume them.
Aaron Falk returns to his drought-stricken hometown to attend a tragic funeral. But his return opens a decades-old wound the unsolved death of a teenage girl.
May. 2021 • Issue No. 25
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“Motherhood is the biggest gamble in the world. It is the glorious life force. It’s huge and scary – it’s an act of infinite optimism.” ~ Gilda Radner
Want to Win a $10.00 Coffee Gift Card?
It’s easy to play! Answer the quiz question on page 3. Each month, all correct entries have a chance of winning the gift card.
Want to Enter?
Email ClientCare@BREMove.com with the word “QUIZ” in the subject line. Good luck!
Last Month’s Question: How many National Parks are in the United States? Last Month’s Answer: 63
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Congratulations to Last Month’s Winner! Melanie Gness
www.BREMove.com
May. 2021 • Issue No. 25
