The Homeowner’s Financial Planning Checklist

A Financial Planning Checklist For Your Future.

Now that everything has hopefully settled down a bit and you finally feel “at home” in your new house, it’s time to talk about the benefits of building a financial planning checklist to help forecast any and all fiscal needs you may have in the coming year.

The past 12 months have most likely been a whirlwind, what with getting acclimated to your new surroundings and getting used to making that monthly home mortgage payment. But while this first year of homeownership may have required the most getting used to financially, the years ahead will undoubtedly be equally as pivotal to your fiscal health—hence the reason we strongly recommend creating a financial planning checklist.

At Blue Water Mortgage we strongly believe in giving our future, current and past clients all of the tools they need to succeed throughout the homebuyers and homeownership process. So, in an effort to assist you further, our team of professional mortgage brokers has come up with a financial planning checklist featuring 3 very important things every homeowner should think about when planning for the year ahead.

1. Have you checked mortgage rates?

As history suggests, mortgage rates can swing in your favor or against it very quickly, thereby making it crucial to keep abreast of the ever-changing market conditions. This volatility, while heavily dependent on the housing market as well as the overall economic climate, can be a very positive thing—especially if you’re looking to refinance your mortgage.

At Blue Water Mortgage we can perform a mortgage review and tell you your options. In our experience, getting a better mortgage rate can open many financial doors—this includes helping our customers find money for college tuition and/or home renovations.

2. Have you checked insurance rates?

Mortgage insurance rates tend to go up every year far beyond cost-of-living increases, making it crucial to check in with an insurance broker to try to renegotiate the rate, or shop for a new rate with a completely different homeowner’s insurance provider. In addition to mortgage insurance rates, you should also consider the following:

Life insurance — If you’ve taken on the responsibility of having a home mortgage loan, it’s important to make sure you also have life insurance to ensure your family is adequately prepared to follow through with your mortgage commitments in case of a tragedy.

Disability insurance — Should anything unexpected happen that leaves you unable to work and support for you family, disability insurance will keep you covered.

Having been in the mortgage business for over a decade now, the team at Blue Water Mortgage has developed numerous contacts in the insurance market and can help match you up with a trusted and proven provider.

3. Have you considered a financial planner?

A financial planner can be a great asset in terms of your future fiscal needs. Financial planning professionals can help you organize and prioritize many of your financial responsibilities. This includes, but is not limited to, your 401K, IRA and 529 plans. A financial planner can also simply help provide clarity to an otherwise confusing, stressful and complicated situation.

Blue Water Mortgage has developed great contacts in the local financial planning market and can help match you up with a trusted and proven financial planning firm.

We hope this financial planning checklist helps you as you enter your next year of home ownership. These tips will hopefully provide a little breathing room and security as you continue your journey as a homeowner.

At Blue Water Mortgage we strive to provide our customers with the best home mortgage advice possible. That’s why we’ve created numerous checklists to help homeowners plan and prepare for everything from home renovations, moving and refinancing your mortgage. We also offer a growing list of products and programs designed to make the home buying process that much easier.

Contact us today for any questions as move forward with homeownership.

Roger Odoardi

Roger is an owner and licensed Loan Officer at Blue Water Mortgage. He graduated from the University of New Hampshire’s Whittemore School of Business and has been a leader in the mortgage industry for over 20 years. Roger has personally originated over 2500 residential loans and is considered to be in the top 1% of NH Loan Officers by leading national lender United Wholesale Mortgage.