A Disadvantages To Low Interest Rates

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
A Disadvantages To Low Interest Rates

Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.

Dr. Friday 0:12
One of the disadvantages to interest rates being so low is that people can actually spend a little bit more money on their homes, possibly ending up with bigger mortgages. In 2018, and later the maximum amount of your mortgage that you can have is $750,000. Now that is on new mortgages signed as of December 15, 2017, moving forward. So if you have a brand new mortgage that would include a refinance. You might want to make sure 750 It used to be a million dollars. So you’d have to amortize the difference in the mortgage interest. If you’ve got questions, call me at 615-367-0819.

Announcer 0:52
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