Two Ways Mortgages are Like Life Partners

No matter how many mortgages are out there, you only have to find one.
Couple Works Out Budget for Kitchen Renovation

Couple Works Out Budget for Kitchen Renovation

This couple talks with a financial adviser after making the decision to renovate their kitchen. Having a budget to work within will keep the project in line with finances.

Photo by: Jupiterimages

Jupiterimages

By: Tara-Nicholle Nelson

Two Ways Mortgages are Like Life Partners

  • No matter how many are out there, you only have to find one. (Or two, or realistically three -- max -- for mortgage loans and partners.)

  • Your commitment is not a life sentence. What works for you now, may not work for you in the future, as your credit or income improve, rates go down, you move, or you decide you need to borrow against your equity. There’s no law prohibiting you from deciding that your mortgage loan -- or your life partner -- is just not working out anymore, and refinancing.

One Way Mortgages are Not Like Life Partners

  • You should go into a mortgage with your exit strategy in mind. Many savvy homebuyers take mortgages knowing when, why, and how they will get out of them. Your life vision can and should impact your mortgage exit strategy.
Keep Reading

Next Up

Real Estate Survival Guide: Seller's Checklist

Refer to this 10-step checklist to get you through the home-selling process.

Real Estate Survival Guide: Buyer's Checklist

Refer to this 10-step checklist to get you through the homebuying process.

Penthouse 101: The History Behind the Pricey Real Estate

Once undesirable, penthouses are now some of the most expensive properties on the market.

Building Mortgage Interest: More Tax Deductions and Incentives for Homeowners

Learn about the many tax advantages of homeownership, including special deductions and local incentives.

5 Ways to Stop the Foreclosure Process

All is not lost once you get a notice of default! You still have some alternatives to stop the foreclosure process.

Fresh News for 'Fixer Upper' Fans: Chip and Joanna to Open 'Hillcrest Estate' in Waco

Chip and Joanna Gaines announce their latest project — a beautifully restored colonial style home that will open as a vacation rental property.

'Good Bones' Season Two is Headed Your Way

Those mighty Indy women, Mina and Karen, are back for a second season of home renos and rescues in their city's historic neighborhoods.

10 Ways to Prep Your Home for Sale

Make your home stand out with a few easy improvements.

On TV

Shop This Look

Found a living space you love in HGTV's Photo Library? Get the look in your own home with products from Wayfair.

Follow Us Everywhere

Join the party! Don't miss HGTV in your favorite social media feeds.