When your friends or family learn you're under contract to purchase a home — whether it's a new home or just new to you — one of the first nuggets of advice you're likely to receive involves making ...

Owning a home comes with an array of expenses, but savvy saving can help take the burden off of the lengthy mortgage and put money back into your pocket faster. Her advice to homeowners with a ...

Making extra mortgage payments — and applying them to the principal — reduces your principal balance little by little, so you end up saving money and owing less interest over the life of the loan. And ...

If you own a home, you’re probably used to watching a big chunk of your paycheck disappear every month due to mortgage payments. But what if adding just a little more could save you tens of thousands ...

It's a strategy that crosses the mind of many borrowers when they take on a home loan: Make an extra mortgage payment or two every year and save tens of thousands of dollars in interest. The move can ...

A little year-end attention to your mortgage could lower your upcoming Internal Revenue Service bill. Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit ...

Paying your mortgage on time is good for your financial health in many different ways, including helping you build equity in your home and improving your credit score. Here’s an overview of the ...

Recasting lowers your monthly payment, but it doesn't shorten your mortgage or maximize interest savings. Making an extra principal payment won't lower your monthly payment but can reduce the total ...

The average American spends roughly 33% of their budget on housing costs, according to the Bureau of Labor Statistics.

Investing typically earns more than paying off a mortgage early — but your age, risk tolerance, and timeline can change the ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...