Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®, CLU®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

September/October 2021

No Place Like Home

No Place Like Home

Thinking about buying a house? Here’s what you need to know before you start your search.


How Much House?
Your housing expenses, including principal and interest, property taxes and insurance, generally shouldn’t be more than 28% of your total pre-tax income, while total debt (credit cards, car loans, personal loans and student loans) shouldn’t exceed 36%. Shop for homes that keep you in this range.

The Down Payment
Saving enough money for a down payment and mortgage closing costs may take a few years and a lot of sacrifice. Figure out how much you’ll need and establish a time frame for saving the money. Cut back on non-essentials like cable TV, gym memberships and dining out, and put any raises or bonuses you receive toward your goal.


15, 20, 30?
It’s a no-brainer that the shorter the loan term, the less you’ll pay in interest over the life of the mortgage. Putting down a minimum of 20% of the purchase price will reduce your loan amount and help you avoid paying private mortgage insurance (PMI) that protects the lender in case you default on the loan.


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Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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