Category: Financial Planning Together
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Adjustable-Rate Mortgage and Co-ownership
Usually a good pick… An Adjustable-Rate Mortgage (ARM) is often a good choice for co-owners pursuing a short-term strategy to generate profit from their home purchase—especially when used intentionally and strategically within a co-borrowing framework. This approach can be effective when the goal is to build equity quickly, reduce upfront costs, and exit or refinance… Read more
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The Volcker Rule
Major financial regulation created after the 2008 crisis as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). It was named after Paul Volcker, the former Chair of the Federal Reserve. What The Volcker Rule Does It restricts banks from taking certain risky actions with their own money. Specifically, it bans two… Read more
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Why 2 or more Incomes Are the New Starter Kit
Single doesn’t mean going it alone Remember when the “starter kit” for adulthood was simple? Get a job, get a place, and start your life. But times have changed—and so has the cost of entry. Given the current housing landscape, one income doesn’t stretch as as it used to. Between rising home prices and the… Read more
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Get Familiar with OPI and PCI
The OPI (Other People’s Income) is the solution, and the PCI (Per Capita Income) is the problem we’re trying to solve. In this context of co-borrowing, I personally refer ‘personal income qualification’ as Per Capita Income. The problem? For many, the individual earning isn’t enough to meet income qualifications for the home you want (or… Read more