25 Mar 2020
By RESCO Realty

Should I Pay Off My Mortgage Or Invest the Money?

Mortgage, ,
To understand what to do with a windfall or extra disposable income when it comes to paying down a mortgage or investing the money, we need to discuss and understand the concept of opportunity cost. What Is Opportunity Cost? The concept of opportunity cost takes into consideration the total financial impact of the use of funds when applied in different ways, to be able to compare the effectiveness of how it is best to use them. The opportunity cost considers the risks involved, the potential reward, as well as the tax implications of the choices. Risk Versus Reward Evaluation All…
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20 Mar 2020
By RESCO Realty

The Long-Term Toll Of College Costs

Mortgage, ,
Taking out enormous student loans to get a college degree may be a terrible idea for some. The burden of paying off this debt can make it far more challenging to do other important things like buying a home. Here are some common problems that come from taking out large student loans: Not Worth It: The college degree may not help you land a high-paying job. Even high-paying jobs like being a dentist have extremely high educational costs as well. Aspiring dentists borrow, on average, over $500,000 to go to dental school and spend multiple decades paying it back. Tuition…
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13 Mar 2020
By RESCO Realty

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

Mortgage, ,
In the overwhelming majority of the 50 largest cities across the U.S., monthly rent is more than the mortgage payment for single-family homes. In several cases, much more.  Global answering service and chat support company Moneypenny compiled data from Zillow on median rent and mortgage payments from July 2014-July 2019. In order to calculate the monthly mortgage payments, Moneypenny took the median home sale prices during the same time period and in the same major cities and then used nationally-average mortgage terms: 30-year fixed rate at 4% with approximately 6% down.  Once the two figures -- median monthly rent and median…
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