My mortgage lessons from Christmas past, present and future.
🎄 Happy holidays, everyone,
I hope all is merry and bright with you and yours. If visions of a new home are dancing in your head for 2026, there is some planning you can do between the egg nog and champagne that will keep the holly in your heart when it comes to your loan. Some of it may sound Scrooge-y, but trust me, you will want to make the smart choices now so you can celebrate with that fat Christmas goose and figgy pudding around your new holiday table next year. My team and I are ready to listen to your wish list and make sure you don’t get ho-ho-hosed in the new year.
GHOST OF CHRISTMAS PAST: EASY CREDIT
Don’t be haunted by past purchases! We mentioned this last month, but it’s worth repeating: DON’T use buy now, pay later services like Klarna, Afterpay, Affirm, Sezzle and others for your gift buying. The convenience now will be a major headache in the future. These are incredibly hard to document with your mortgage lender and will add loads of paperwork to your application process. And pleeeeaaaase 🚫 don’t open store credit either. That credit pull to save on jeans can cost thousands when it comes to your mortgage rate. Buy what’s in your budget now. If your credit score is something you’re worried about, talk to me. I can help you find ways to give yourself a boost.
GHOST OF CHRISTMAS PRESENT: FACTS EVASION
If a new home is in your plans for the new year, be cool now. What feels right for you today could mean big bucks (and big headaches) later. Don’t quit your job. Don’t buy a boat. And if you are self-employed, be honest on your taxes!! Of course you’re an honest person but your accountant may be telling you to underclaim your income or overclaim your expenses to save on your tax bill. Humbug! As a mortgage lender, I need solid income information from your tax returns so I can get you a fair rate at the amount you need. And trust me, 🎅🏻 I’m Santa when it comes to knowing who’s naughty and nice.
GHOST OF CHRISTMAS FUTURE: REFI REALITY
Refinancing, and deciding when to do it, can get scary. It’s all about timing and things you (mostly) can’t control. We hear about rates dropping but not all rates are mortgage rates. 👀 Keep your eye on the long-term interest rate. You may be bombarded with messages from your current lender about refinancing NOW, NOW, NOW! But don’t go into it blind. Let me talk with you about your financial goals. It is time to be patient, get well-informed about the bigger picture, and ask important questions not just about rates but about your plans, debts, loan structure. Give your future self the gift of wealth building the right way.
My team and I are here when you want to strategize about how to be a wealthy Scrooge and a happy Scrooge.
Schedule a consultation. We can talk by phone, DM, email, Zoom, or fireside chat.
We wish you all the best this Christmas and holiday season!
—Mark