FHA home loan Archives - Critical Financial

Home Posts Tagged "FHA home loan"

How to Maintain Two Homes Efficiently

Posted by Joe Wallace on Jan 7th, 2021 · 0 Comment

Many are tempted, but fewer have good ideas starting out how to maintain two homes efficiently. If you’ve ever been tempted to own a second home there are considerations to remember that can help you own and maintain two properties. Before You Buy If you are looking for a second home to purchase and need to buy on a budget, remember that government-backed mortgages such as FHA loans, USDA mortgages,...
more →

Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

How to Maintain Two Homes Efficiently

About the Author

Critical Financials’ Basic Personal Finance Rules

Support Our Advertisers