21 Things You Need To Know About Money: Chapter 10 - Home Loans - How large of a Mortgage You Should Get.

This chapter from Adam Olson's book, “21 Things You Need to Know About Money”, provides advice on how to determine the appropriate size of a mortgage. Adam stresses the importance of considering factors such as income, existing debt, and savings when deciding how much to borrow. He strongly advises against taking on a mortgage that exceeds 20% of your net income, emphasizing the need for cash flow flexibility. Adam highlights the impact of interest rates and the need for a 20% down payment to avoid Private Mortgage Insurance (PMI). He also recommends consulting with a financial advisor or mortgage broker to navigate the complexities of the mortgage process. Learn more about Adam Olson by visiting the following links: Facebook Personal Website Business Website -- Investing involves risk, including loss of principal.    Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.  Any strategies discussed may not be suitable for everyone.  Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.  Adam Olson, Representative.  Mutual of Omaha Investor Services is not affiliated with any entity listed herein.  This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product. Mutual of Omaha Investor Services and its various affiliates do not endorse or adopt comments posted by third parties.  Comments posted by third parties are their own and may not be representative or indicative of other's opinions, views, and experiences.