Mortgages Archives - Critical Financial

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Should You Get a Mortgage at a Young Age?

Posted by Melissa Batai on Jun 18th, 2021 · 0 Comment

The single biggest purchase you will make is your home. Many people will spend 30 years (or longer if they continue to refinance) paying off their mortgage. Because it’s such a large obligation, people often wait to buy a home until their 30s or later. According to Experian, the average age of first-time homeownership in the United States is 34 years old. However, others get a mortgage at a young...
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What Will the New Tax Law Do to the Housing Market?

Posted by Jackie Cohen on Dec 28th, 2017 · 0 Comment

New tax law might slow down housing market.

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest and property taxes. Jackie CohenJackie Cohen is an award winning financial journalist turned turned financial advisor obsessed with climate change risk, data and business. Jackie holds a B.A. Degree from Macalester College and an M.A. in English from Claremont...
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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.

Should You Get a Mortgage at a Young Age?

What Will the New Tax Law Do to the Housing Market?

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