refi Archives - Critical Financial

Home Posts Tagged "refi"

Should You Refinance Your Home Loan During The Coronavirus Outbreak?

Posted by Joe Wallace on Mar 12th, 2020 · 0 Comment

Should you consider a refinance of your mortgage during the coronavirus outbreak? Headlines about the pandemic have served to throw stock markets into disarray, mortgage rates took a huge nose-dive, and many homeowners rushed to take advantage of the low rates, which in some cases (FHA and VA mortgages, for example) went below the three percent range for the first time in many years. What does it...
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.

Should You Refinance Your Home Loan During The Coronavirus Outbreak?

About the Author

Critical Financials’ Basic Personal Finance Rules

Support Our Advertisers