Author Archive | Kristin Clayton

The Financial Advantages of Buying vs. Renting

iStock_000052978578_Medium_Buy or rentEven though renting costs far less initially for most people, buying a home has much greater life-time financial benefits.

Consider taxes: Renters pay much more in taxes than homeowners. Homeowners can deduct mortgage interest (which is going to be most of your monthly mortgage payment initially), as well as real estate taxes. This means most of your monthly shelter costs are going to be tax deductible. Read More

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Interest Rate vs. APR: Why You Should Care About APR

Rate vs APRThe annual percentage rate, or APR, is the interest rate a borrower will pay over the life of the loan. It is higher than the interest rate the bank advertises because it includes the simple rate, plus other costs such as prepaid interest (most APR’s are calculated upon an assumption that the loan closes in the middle of the month and include 30 days prepaid interest), points and other costs. Read More

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