First Trust Home Loans
Perhaps you have won the lottery, received an inheritance, or cashed in one of your investments, and now you have a large sum of money you don't know what to do with.
Although it is tempting to cruise around town in a brand new sports car it is important to think carefully about how to spend your newfound cash.
To give you some ideas on the smartest way to use your new wealth, here are five things to do with a windfall other than spend it right away:
If you're in the market for a new home, you're probably trying to budget for all of the expenses that come with a home purchase. After all, the asking price isn't necessarily the entire amount that you'll pay - there are other expenses that will factor in to the final price. One such expense is your closing costs.
If youâre looking for a new home, youâve probably heard lots of advice about down payments. About how itâs okay to just have a five percent down payment â youâll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. Here are just four reasons why you should make the largest down payment possible.
There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening the term of the loan, to switching mortgage loan types, to tapping into home equity.
