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What Is APR?

APR stands for annual percentage rate, and it’s used to measure the cost of borrowing money from lenders for various reasons, such as with a home loan. While it’s often presented at the same time as your interest rate, it isn’t the same thing.

APR is expressed as a percentage and takes into account not only the interest rate but also many of the costs that are associated with the loan. When it comes to borrowing using a mortgage, these costs can include such items as these:

•  Origination fees

•  Application fees

•  Processing fees

•  Mortgage points, also called discount points

APR provides a more comprehensive picture of the total cost of the mortgage loan. It gives you an overall view of the fees and costs you would have to pay that are included in the finance charge. If you compare just the interest rate, the additional fees and costs aren’t represented, which could give you an incomplete picture when it comes to determining the actual cost of the loan. That could negatively impact your ability to budget accurately for your home loan costs.

Since not all lenders charge the same fees or interest rates, comparing APRs is usually a better way to compare the total cost of your loan from one lender to another.

Why Is APR Important When Taking Out a Mortgage?

Knowing the APR can help consumers be more informed while comparison shopping for loan products. Thanks to the Truth in Lending Act, lenders are required to disclose the APR of their loans, as well as all fees and charges associated with a loan.

The APR should include all finance charge fees, which can make it easier for borrowers to sort through loan comparisons to find the right mortgage.

How Are Interest Rates Calculated?

As we’ve discussed, APR and interest rate aren’t the same, but your interest rate does impact your APR. So, how exactly are interest rates calculated?

Your interest rate is a percentage of your mortgage rate. What that percentage will be depends on what type of mortgage loan you have.

•  With a fixed-rate mortgage, you’ll pay the same interest rate for the entire time you have the loan.

•  With an adjustable-rate mortgage, on the other hand, your rate will fluctuate throughout the life of the loan.Also, keep in mind that any unpaid interest gets added to the mortgage principal. This means you’ll have to pay interest on that interest.

Your lender will determine your specific interest rate based on your financial details, such as your credit score, as well as the current economic conditions and market interest rates. “Working to build your credit score before applying for a home loan could save a borrower a lot of money in interest over time. Lower interest rates can keep monthly payments down or help you pay back the loan faster,” says Brian Walsh, CFP® and Head of Advice & Planning at SoFi. Lenders usually use their own unique formula to calculate interest rates, which is why your rate can vary from lender to lender — and why it’s important to shop around for rates.

Recommended: APR vs. Interest Rate: What’s The Difference?

How to Calculate Your APR

When you’re getting a mortgage, you may want to be extra thorough and calculate the APR yourself. There’s a way to make that happen. Be warned, it’s not necessarily a super fun math project, but hey, where there’s a formula, there’s a way, right?

•  To get started, you’ll have to know the approximate monthly Principal and Interest (P&I) payment on your loan. Maybe your lender has already told you what it would be, but if not, you could calculate it with an online mortgage calculator or by hand.

•  You’ll need to have a loan amount, interest rate, and a term in years.

•  Once you have the monthly P&I payment calculated, you’ll then be able to calculate the APR, which you can do with an online calculator. Keep in mind that because you don’t know what your applicable APR loan fees will be, it can be wise to use a ballpark estimate. If the loan costs that will impact your APR are 2% of your loan amount and your loan amount is $200,000, your loan costs for calculating the APR will be $4,000.

The formula for calculating APR looks like this:

[({Fees + Total Interest} ∕ Loan Principal) ∕ Total Days in Loan Term] ✕ 365 ✕ 100

💡 Quick Tip: Lowering your monthly payments with a mortgage refinance from SoFi can help you find money to pay down other debt, build your rainy-day fund, or put more into your 401(k).

Why You Need to be Careful When Using APR to Compare Mortgages

When you’re getting a mortgage, you will likely have the APRs for all the mortgage offers you’re considering. Your APR is important to consider because it factors in the expense of additional fees over the life of your mortgage. If you’re applying for a 30-year mortgage, those fees are spread over 30 years.

But do you plan to live in your home for the full 30 years of your mortgage and never refinance your mortgage? If you sell your home after five years, rather than staying for the duration of your 30-year loan, you’ll still have to pay for the loan fees (such as origination fees).

That’s why it’s important to consider and compare APRs when choosing a mortgage. If you plan on living in the home for a limited time, a lender that offers fewer fees might be a better choice than a lender with a low interest rate but lots of fees. You may want to consult with your financial advisor before making this decision.

When you’re mortgage shopping, especially if you are a first-time homebuyer, you also may want to proceed with caution when comparing the APRs of fixed-rate and adjustable-rate mortgages if you are using an online calculator. The APR on adjustable-rate loans may not be an accurate representation of the cost of the loan since calculators cannot anticipate the frequency or amounts of the interest rate changes.

Recommended: Tips When Shopping for a Mortgage

The Takeaway

When getting a home loan, your interest rate and APR, or annual percentage rate, are not the same thing. The APR reflects the overall cost of the loan, including various fees, for instance.

If you’re ready to take the next step in your home-buying journey, you’ll want to take stock of your mortgage options. Comparing each loan’s APR is a quick and easy way to see how your offers stack up, although it isn’t the only factor to take into account.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

What is a good mortgage APR?

A good APR is one that falls below the current average for the type of loan you have chosen. Simply search online for “national average APR” and your loan type (such as “30-year fixed-rate mortgage”) and you’ll see the current rates.

Is it better to have a low interest rate or low APR?

Whether it is better to have a low interest rate or a low APR depends in part on how long you plan to stay in the home. If you have high upfront costs for a loan and then sell the home in just a few years, the APR won’t reflect your overall cost as well as it would if you stayed for the full term of your loan. If you don’t plan to own the home for very long, you might be better off focusing on choosing the loan that gets you the lowest interest rate.

Can I negotiate a mortgage interest rate?

You can negotiate a mortgage interest rate by shopping around and comparing offers from multiple lenders, examining both the interest rate and APR on the loans. Once you narrow the field, you might be able to purchase mortgage points, also known as discount points, to reduce the rate further. But the best way to help ensure a low mortgage rate is to cultivate a strong credit score before you apply for a loan.

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SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOHL-Q425-051

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Spring has been a traditional house-hunting season. That’s when parents of school-age kids often look for a place to call home — one they can settle into before classes begin in September.

And summer certainly has its merits for looking at houses, from the comfort of walk-throughs in warm weather to seeing gardens in full bloom.

But buying a house in winter can be a wise move. The so-called “off season” bestows some very real benefits for those who are looking for a new place. These may include everything from less competition (and fewer bidding wars) to faster closing schedules.

With mortgage rates remaining persistently elevated and home prices in many areas still at record highs, homebuyers are looking for every opportunity to capture savings, especially in hot markets in the Northeast in California. The winter ahead might be a good time to bundle up and rev up a home search. Read on to learn seven smart benefits of shopping for a house in winter. You just might snag a great deal on your dream house.

Why You Should Buy a Home in Winter

Wondering why you should consider buying a house in winter, when the days may be short, the trees bare, and the weather nasty? Here are some very good reasons.

1. Having Less Competition for Homes

Not everyone wants to or is able to shop for houses during the winter months. Freezing temperatures and inclement weather can keep would-be homebuyers away.

During the winter season, parents are busy managing school schedules and events, and many people are also busy traveling and hosting guests over the holidays.

But there’s an upside: Fewer people shopping for homes could mean less competition for those in the market for a house. And diminished competition might mean winter homebuyers can be more discerning in their choices. There’s less pressure to snap up a house for fear another buyer will get to it first. In addition, you may be less likely to end up in a bidding war with a slew of other interested buyers, which can drive up costs. You might contend with counter offers. But while there are often fewer houses for sale during the winter, buyers may be more likely to land their desired home closer to the asking price (or even below).

💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.

2. Profiting from a Buyer’s Market in Winter

With some buyers distracted by the jam-packed holidays, it can be trickier to sell a home in the wintertime. Some sellers only put their homes on the market in the winter because they really have to.

The seller’s snag, though, can be a boon for buyers, as winter homesellers may be more motivated to get the sale completed faster than their summertime counterparts.

Motivated winter sellers might be willing to negotiate on things like price, closing costs, and the closing date. Perhaps they need to relocate for work or another time-sensitive reason and are eager to get the deal done.

In some cases, houses that are on the market in the winter have been there since the summer selling season. Homes like these are sometimes referred to as “stale listings.” The seller may be ready to take what would previously be deemed a too-low offer, just to move ahead with a deal.

3. Closing on Your Purchase Faster in Winter

Closing is when the title of a property legally changes hands from the seller to the buyer. When buyers and sellers are negotiating the sale of a home, they work together to set a closing date when the house title will officially transfer between the parties.

Real estate agents often work with mortgage brokers to find a suitable day that will allow enough time for the deal to be executed properly.

In warmer months, banks, inspectors, and appraisers are usually handling a lot of new buyers. In practice, this glut of interested buyers could mean mortgage brokers are backed up for weeks or even months.

In the winter, when fewer interested buyers are typically calling, things can slow down for lenders. As a result, cold-weather buyers might be able to close on their homes faster and get settled in more quickly.

Recommended: What Are the Different Types of Mortgage Loans?

4. Understanding a Home’s Condition More Clearly

Visiting a property in person can tell a buyer a lot about a home. But, in the summertime, some of a house’s less attractive qualities can be masked by warm weather, blossoming gardens, and the brilliant summer sun.

Seeing a house in the winter can give buyers a chance to understand how it holds up under tougher conditions. Is the house too gloomy in low light? Does cold air creep in from the windows? Does ice jam up the gutters causing the roof to leak? Does a long driveway that needs to be shoveled seem less appealing in the winter than in June? You could be destined for some home maintenance costs. Getting a chance to suss out potential problems like these can provide a fuller picture of what actually living in a property might be like year-round.

Keep in mind, though, that some aspects of a home can be harder to grasp in the winter months. For example, it’s tough to test out an air conditioning unit in the wintertime. And snow could cover up foundation issues.

💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.

5. Hiring Movers Can Be Easier in Winter

Let’s say you do find a new home and move forward with buying a house in winter. Moving costs in the winter can be cheaper than in the summer. Fewer people buying homes means less demand for movers, which in turn could mean more competitive pricing.

With lighter schedules, moving companies may also be more flexible and able to accommodate your desired moving dates. (It can be helpful to stay flexible with move dates in the winter, since a big snowstorm might mean sudden delays.)

Still, if you move when snow is falling, that will obviously slow down your move and make it pricier. Try to reschedule if inclement weather is in the forecast.

6. Getting More Time and Attention from Real Estate Agents

Movers aren’t the only people who are less busy in the winter months. Fewer people shopping for houses could mean there’s less work for real estate agents.

Agents may have more time in the winter to spend helping individual buyers find the house that meets their exact needs. Also, when it comes time to negotiate, agents may have more hours to go to bat for their clients to secure a better deal.

7. Taking Advantage of Last-Minute Tax Savings

Buying a house by late December (rather than waiting until the following spring) may allow buyers to take advantage of last-minute savings on that year’s taxes.

The mortgage interest deduction allows homeowners to subtract mortgage interest from their taxable income, lowering the amount of taxes they owe. Married couples filing jointly and single filers can deduct the interest on mortgages up to $750,000. Married taxpayers filing separately can deduct up to $375,000 each. While you may not accumulate a lot of interest paid if you purchase toward the end of the year, you might be able to deduct anything you pay for mortgage points.

However, you cannot deduct mortgage interest in addition to taking the standard deduction. To take the mortgage interest deduction, you’ll need to itemize. Itemizing only makes sense if your itemized deductions total more than the standard deduction. For the 2025 tax year, the standard deduction is $15,000 for single filers and $30,000 for those married, filing jointly.

Recommended: How to Qualify for a Mortgage: 9 Requirements for a Mortgage Loan

The Takeaway

No matter what season you may be house-hunting, it’s important to figure out how to finance a potential purchase before you find the home that’s “The One.”

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

What is the best time to purchase a home?

Late fall and early winter, roughly November through February, is considered the best time of year to buy a home. Although inventory may be lower than in the spring, sellers may be more willing to bargain because there are fewer shoppers in the winter months.

How do you negotiate a house price?

One of the best negotiation tools is research. You can look up comparable properties’ sale prices or enlist your real estate agent to help with this. It may also help to get an inspection of the property you wish to buy, so you can negotiate based on its results. Seeking preapproval for a home mortgage loan from a lender could give you a leg up in the negotiation process, as being preapproved shows you are serious about making a purchase.

What are red flags when buying a house?

The list of potential red flags when buying a home can be frighteningly long and includes structural problems, electrical or plumbing problems, poor drainage, or pest infestation. But dealbreaking problems can arise outside the home as well. Neighborhood woes or homeowners association (HOA) conflicts can also squelch a transaction. Have a home inspected before buying and consult a knowledgeable real estate agent for perspective on the severity of the problem.

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SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOHL-Q425-054

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If you get paperless mortgage statements or have autopay set up on your home loan, or even if you get statements in the mail, it can be easy to miss important information.

By paying close attention to exactly what’s included in your mortgage statements, you’ll avoid unpleasant surprises.

What Is a Mortgage Statement?

You probably became well versed on mortgage basics during the homebuying process. And you likely did the hard work of using a home mortgage calculator, qualifying for a mortgage, and getting that loan.

But what is a mortgage statement? It’s a document that comes from your home mortgage loan servicer. It’s typically is sent every month and includes how much you owe, the due date, the interest rate, and any fees and charges.

In the past, the information that was included and the format of a mortgage statement varied widely among lenders. Thanks to the Dodd-Frank Act, enacted in 2010, mortgage servicers must now include specific loan information and follow a uniform model for mortgage statements.

Statements also include information on any late payments, how much you’ll need to pay to bring your account back to where it should be, and any late fees you’re dinged with. You can also find customer service information on your mortgage statement.

Mortgage Statement Example

A mortgage statement has elements similar to those on a credit card or personal loan statement. As a picture is worth a thousand words, here’s a mortgage statement example, courtesy of the Consumer Financial Protection Bureau:

How to Read a Mortgage Statement

Deciphering what’s on a mortgage statement can help you understand how much you owe in a given month, how much you’re paying toward interest and principal, and how much you’ve paid for the year to date.

Let’s dig into the different parts of a home loan statement.

Amount Due

This can usually be found at the top of your mortgage statement and is how much you owe for that month. Besides the amount, you’ll find the due date and, usually, the late fee you’ll get hit with should you be too slow with your payment.

Explanation of Amount Due

This section breaks down why you owe what you owe. You’ll find the principal amount, the interest amount, escrow for taxes and insurance, and any fees charged. All of these will be tallied for a total of what you’ll owe that month.

Past Payment Breakdown

Below the section that explains the amount due, you’ll find a breakdown of your past payment: the date the payment was made, the amount, and a short description that may include late fees or penalties and transaction history.

Contact Information

This is typically located on the top left corner of the mortgage statement and contains your mortgage loan servicer’s address, email, and phone number, should you need to speak to a customer service representative. Note that like student loan servicers, a mortgage loan servicer might be different from your lender.

Your mortgage loan servicer processes payments, answers questions, and keeps tabs on your loan payments, and how much has been paid on principal and interest.

You probably know what escrow is. If you have an escrow account, your mortgage loan servicer is also tasked with managing the account.

Account Information

Your account information includes your account number, name, and address.

Delinquency Information

If you’re late on a mortgage payment, within 45 days you’ll receive a notice of delinquency, which might be included on your mortgage statement or be a separate document. You’ll find the date you fell delinquent, your account history, and the balance due to bring you back into good standing.

There should additionally be other information, such as costs and risks should you remain delinquent. There also might be options to avoid foreclosure. One possible tactic is mortgage forbearance, when a lender agrees to stop or reduce payment requests for a short time.

Escrow Account Activity

Many mortgages include an escrow account, from which the mortgage servicer pays the homeowner’s property taxes and/or homeowners insurance. If you have an escrow account, you should see how much of your current payment will go to it listed in the explanation of the amount due. You may also see how much you have paid into it during the past year in the past payment breakdown.

Your lender is also responsible for conducting an escrow analysis each year to assess what your costs will be for the next year. It must let you know the results, what your payments will be in the coming year, and whether your account currently has a surplus or a deficit.

Recommended: Refinance Your Mortgage and Save

Understanding the Details

Your mortgage statement includes many details, all to help you understand what you’re paying in interest, the fees involved, and what your principal and interest amounts are. It’s important to look at everything to make sure you understand what information is included. If you have trouble deciphering the information, call your mortgage servicer listed on the document.

If you have an adjustable-rate mortgage, the mortgage statement also might include information about when that interest rate might change.

Important Features to Know

Here are a few key elements related to your mortgage statement to be on the lookout for.

Delinquency Notice

As mentioned, you’ll receive a delinquency notice within 45 days should you fall behind on payments. Besides how much you owe to get back in good standing, the delinquency notice might also include your account history, recent transactions, and options to avoid foreclosure.

Escrow Balance

If you have an escrow account for your mortgage, the balance is how much money you currently have in your escrow account. This may be included in your annual escrow statement. (Your mortgage statement should show what you have paid for the year to date.) If you have difficulty finding your escrow balance, contact your mortgage servicer.

Interest Rate and Loan Term

Your loan’s current interest rate will appear on your mortgage statement. If you have an adjustable rate, you’ll also see the date that the rate will next adjust. Your loan term or the maturity date of the loan may be included on the statement as well. If they don’t and you want the information, contact your mortgage servicer.

Recommended: Mortgage Calculator with Taxes and Insurance

Using Your Mortgage Statement

Now that we’ve covered the elements of a mortgage statement, let’s go over how to use your mortgage statement and make the most of it.

Making Sure Everything Is in Order

Comb through your mortgage statement and check to see that everything is accurate and up to date. Inaccurate information can lead to overpaying, potentially falling behind on payments, and/or other headaches.

Keeping Annual Mortgage Statements

While you might not need to hold on to your monthly mortgage statements for too long, make sure you have access to your annual mortgage statements for a longer period of time. If you run into an IRS audit, you may be required to provide documentation for the past three years.

Making Your Payment

There are a handful of ways you can make payments on your mortgage.

Online. This is probably the most common and simplest way to submit a mortgage payment. It’s usually free, and once you set up an account online and link a bank account to draw payments from, you’re set. You can also set up autopay, which will ensure that you make on-time payments. In some cases, you might be able to get a discount for setting up auto-debit.

Coupon book. A mortgage servicer might send you a coupon book to use to make payments instead of sending mortgage statements. A coupon book has payment slips to include with payments. The slips offer limited information.

Check in the mail. As with any other bill, you can write a check and drop it in the mail. However, sending a payment by snail mail might mean that your payment doesn’t arrive on time. If you are going this route, send payments early and consider sending them via certified mail.

Spotting Errors or Irregularities

If you discover an error on your mortgage statement, it’s important to get it corrected as soon as possible, even if it’s just a misspelling of a street name. To do this, you can start by telephoning your mortgage servicer to report the problem. Some problems the company may be able to fix over the phone.

If the mortgage servicer can’t resolve the issue over the phone, it may ask you to send a letter. This will allow you to document what the problem is and offer any evidence you have to support your case. The provider is generally obligated to make the change or conduct an investigation. The provider also has to let you know what their ultimate decision is.

How Long to Keep Mortgage Statements

Just as you’d want to hold on to billing statements for other expenses, you’ll want to keep your mortgage statements in case you find inaccuracies down the line. Plus, the statements come in handy for tax purposes and for your personal accounting.

So how long should you keep your mortgage statements? Provided you can find your statements online by logging in to your account, you don’t need to hold on to paper statements for long. In fact, you can probably get rid of paper copies if you have access to them online. It might be a good idea to download the documents to your computer.

Other documents, such as your deed, deed of trust, promissory note, purchase contract, seller disclosures, and home inspection report, you should keep as long as you own the home.

Consider holding on to annual mortgage statements for several years in a safe place. It’s a good idea to store them on your computer and have hard copies on hand.

The Takeaway

It’s easy to gloss over mortgage statements, but not knowing what’s in them every month and not noticing any changes can result in costly mistakes. It’s also eye-opening to see how much of a payment goes to principal and how much to interest. Having that information at hand can also be helpful if you are considering a mortgage refinance.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

What is a mortgage interest statement?

A mortgage interest statement is a tax form (Form 1098) used to report potentially tax-deductible expenses, including mortgage interest payments. It’s not the same as a mortgage statement, which is a document you receive from your mortgage servicer, usually every month, that shows how much your next payment will be, the due date, and any fees and charges, as well as other information.

How do I get my mortgage statement?

You should receive a statement monthly, either in the mail or via an alert from your mortgage servicer saying the bill is due. If you don’t receive a statement and can’t access it online, contact your lender promptly.

What is a mortgage servicer?

A mortgage servicer is a company that manages home loans. It sends your statement and collects and processes your payment every month, as well as provides customer support. A mortgage servicer may be different from your lender, which is the institution that approved your application and loaned you the funds to buy your property.

What should I check on my mortgage statement each month?

It’s a good idea to review your mortgage statement to ensure that there are no errors or unpleasant surprises. In particular, you’ll want to make sure that your last payment was received on time and check for any potential new or changed fees or rate changes.

Are mortgage statements available online?

In many cases, you can access your mortgage statements on the website of your mortgage lender or servicer.

Can I use my mortgage statement for tax purposes?

If you want to claim a mortgage interest tax deduction on your federal taxes, you can’t use your monthly mortgage statement. Instead, you’ll need to use a 1098, which is the form your mortgage lender or servicer uses to declare how much mortgage interest you have paid in the last year.

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Photo credit: iStock/Tijana Simic

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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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It is very unlikely that you can directly pay your mortgage lender with a credit card. However, there are a few workarounds that can help you pay your home loan with plastic. But it’s important to understand other factors involved when paying your mortgage with this kind of card, such as possible fees and other financial consequences.

Read on to learn how to pay your mortgage with a credit card and what to consider before you do so.

How to Pay Your Mortgage With a Credit Card

If you’re wondering if you can pay your mortgage with a credit card – It’s highly unlikely that you can do so directly. That said, there are several ways you can use workarounds to pay your mortgage with a credit card, including using a money order, utilizing third-party services, and getting a cash advance.

Use a Third-Party Service

Some third-party services facilitate mortgage payments using your credit card and send a payment to your lender on your behalf. Companies like Plastiq allow you to use select credit cards to make mortgage payments through their platform.

For the privilege, you’ll most likely need to pay a convenience fee — Plastiq charges a processing fee of 2.90% — each time you make a mortgage payment using your credit card. And, depending on how that payment is delivered (say, check or bank transfer), you may also be charged an additional fixed fee that can range from 99 cents to $39. You may also have the option to make recurring payments or to make your payments manually.

Buy a Money Order

Depending on your location and the retailer, you may be able to purchase a money order with your credit card. Then you’ll simply take the money order and deposit it at your bank and transfer the amount to your mortgage lender.

Keep in mind that most retailers may not accept credit cards as a form of payment for money orders — several major companies, including 7-11 and Western Union, have ceased this service – so it’s best to check ahead of time if you plan to use plastic. Even if you can, money orders tend to have a limit of $1,000. That means if you want to go this route, it may take you a few transactions before your money orders total enough for your mortgage payment.

Additionally, you may incur a fee for each money order you buy. Also keep in mind that some credit card issuers treat money order purchases as cash advances, which can result in a fee and interest charges at a rate that’s usually higher than the standard purchase APR on a credit card.

Transfer a Balance to Your Bank Account

You could attempt to conduct a balance transfer, with the funds going into your bank account — some credit card issuers may allow this type of transaction. Most commonly, credit card issuers provide cardholders with balance transfer checks to facilitate these types of transactions. There may be balance transfer fees involved, and interest may accrue depending on your credit card terms.

Get a Cash Advance

As another method to pay your mortgage with a credit card, you can get a cash advance at the ATM with your credit card. You’d then deposit the cash into your bank account and use the funds to make your mortgage payments. You could also consider using the funds to purchase a cashier’s check and then mailing it to your lender.

Going this route most likely means you’ll have to pay a cash advance fee, and interest on cash advances will accrue on your credit card with no grace period and often at a significantly higher rate than on your everyday purchases. Credit limits may be lower for cash advances as well.

Recommended: Charge Card Advantages and Disadvantages

Use a Payment App or Digital Wallet

Increasingly many consumers now use payment apps called digital wallets – like Apple Pay, Google Pay, and Samsung Pay, among others – to store payment information so that they can make payments quickly and easily. These apps are common now for point-of-sale transactions of all kinds, so you may wonder if this is a way to pay your mortgage with a credit card. Some lenders might allow you to pay with a digital wallet, but they would still typically require that your payments come from a debit card or bank account, not a credit card.

Do All Mortgage Lenders Accept Credit Card Payments?

No, most mortgage lenders do not accept credit card payments directly from the borrower.

If you’re curious about why this is, know that paying debt with a credit card isn’t usually a financially responsible move. Mortgage companies likely don’t want the added risk when someone is paying for their home loan with credit vs. cash. Also, it can be expensive for lenders to accept credit cards, given that processing and other fees can take a bite out of every incoming amount of money.

Factors to Consider When Paying a Mortgage With a Credit Card

Before paying your mortgage with a credit card, consider the following.

Fees vs Rewards

Similar to those considering paying taxes with a credit card, many people may want to pay their mortgage with a credit card because they want to earn rewards. Since third-party services will charge you fees — or you’ll pay the fees charged directly by your credit card issuer for balance transfers or cash advances — you’ll want to make sure the value of the rewards outweighs what you’re paying in fees.

Remember, the fees may seem small, but they can quickly add up over time. Also, in many cases, rewards cards may only count certain transactions as eligible for rewards. Many issuers don’t consider balance transfers as qualifying transactions, for example.

The Cost of Interest

If you don’t pay off your balance each month, interest will start to accrue on your credit card — and credit card interest rates are typically much higher than your mortgage interest rate, even if you have a good APR for a credit card.

Additionally, if you go the cash advance route, these transactions may have higher credit card interest rates, and there’s no interest-free grace period.

Effect on Your Credit Score

If your credit card balance starts to get too overwhelming and you miss making the credit card minimum payment, it could negatively impact your score.

Even if you make on-time payments, having a high balance could affect your credit utilization, which is the ratio between your balance and your available credit. The higher your credit utilization, the more it could negatively impact your score.

Challenges You May Face When Paying a Mortgage With a Credit Card

One challenge with using a credit card for mortgage payments is the time it takes to do so. Any of the above-mentioned methods will take you some time and effort to complete successfully. That’s because it’s unlikely your lender will accept a direct credit card payment and you will instead have to use a workaround.

There are also the fees to consider — determining whether paying the extra charges and potentially a higher interest rate is worth it takes some careful calculations.

Limited Payment Channels

Even with a workaround, your options for paying your mortgage with a credit card are quite limited. Major vendors have stopped accepting credit card payments for money orders, so the most viable methods are probably using a third=party service or getting a balance transfer or cash advance from your credit card, all of which cost money.

Potential for Increased Debt

Since credit card APRs are typically much higher than mortgage rates, putting your mortgage payment on your credit card (even indirectly) will mean that you’re risking hefty interest on top of your mortgage payment. And, since cash advances and balance transfers are among your most likely options and those typically come at even higher APRs, using them to pay for your mortgage opens you up to even more debt.

Should You Pay Your Mortgage With a Credit Card?

Making mortgage payments with a credit card might possibly be a good idea if you’re looking for a way to earn more rewards or get some financial breathing room. However, given the downsides, such as high fees and the impact it may have on your credit, you may be better off pursuing other options first. Also keep in mind that using a credit card to pay your mortgage may trigger a higher cash-advance interest rate than your typical interest rate since you can’t pay directly.

Alternatives to Using a Credit Card for Your Mortgage

Here are several options you can choose from instead of paying your mortgage with a credit card. Let’s start with what to do if the situation is urgent.

•   Consider mortgage forbearance: If you’re struggling with your payments and experiencing a significant hardship, you can contact your lender to see if mortgage forbearance is possible. This could allow you to temporarily stop paying or have your monthly payments reduced until you can get back on your feet.

•   Seek help from a housing counselor: You can find a reputable housing counselor that’s approved by the U.S. Department of Housing and Urban Development (HUD) by contacting the Homeowners HOPE Hotline or using the housing counselor tool on the Consumer Financial Protection Bureau’s website. They could suggest options to help you manage your mortgage payments. You may have to pay a small fee for the service, but it could be more affordable than using a credit card to pay your mortgage.

Refinancing or Loan Modification

If mortgage forbearance doesn’t seem necessary yet, there are other options worth considering: refinancing and loan modification.

Refinancing involves replacing your old mortgage with a new one – ideally with terms that will make it more manageable for you. The new mortgage might have a longer term or a better interest rate, resulting in lower monthly payments. The downside is that you’ll need to pay closing costs and, usually, to get more advantageous terms, you’ll need a good credit score and a regular income.

If refinancing doesn’t seem like a good option for you, you could go to your lender and request loan modification – changes in the terms of your mortgage that will make it easier for you to make your payments. This could involve a longer term or a better interest rate, for instance. Your lender is not under any obligation to offer this option, but it’s worth asking.

Personal Loan or HELOC

Another option to help with your mortgage payments could be a loan. Both personal loans and home equity lines of credit (HELOCs) are flexible loan types that might help you manage your mortgage in the short term. A personal loan is typically available at a fixed interest rate for up to $100,000 or even more. It’s usually paid back over a term of up to 10 years. A HELOC is a revolving line of credit, usually with adjustable interest rates. You can draw out funds, up to a set amount, during the initial draw period and during the subsequent repayment period, you pay back what you’ve borrowed, with interest. A HELOC is secured with your home equity, so the interest rate is typically lower than it is with a personal loan, but if you don’t make your payments, your house is at risk.

The Takeaway

While you probably can’t pay your mortgage directly with a credit card, there are workarounds that are possible, as long as you understand what you’re getting into and are strategic about what you’re doing. Before you move forward with paying your mortgage with your credit card, make sure you weigh the fees involved vs. the rewards you could earn as well as any interest you could accrue and potential impacts to your credit. Understanding the pros and cons of this scenario is an important step in using your credit card responsibly.

Whether you're looking to build credit, apply for a new credit card, or save money with the cards you have, it's important to understand the options that are best for you. Learn more about credit cards by exploring this credit card guide.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

Can you use a credit card to pay a mortgage?

Can you pay your mortgage with a credit card? Probably not directly, but you may be able to do so through indirect methods. Some of these include going through a third-party service, making a balance transfer, purchasing a money order using your credit card, or getting a cash advance. Each of these methods will come with its own set of fees and/or higher interest rates.

Can paying a mortgage with a credit card impact credit score?

If you end up with a high balance on your credit card as a result of your mortgage payment, it could negatively impact your score if you have a high credit utilization. Or, if you end up missing or being late on a payment (perhaps you’re struggling to make the monthly payments), then your score could also be impacted.

Are there fees for paying a mortgage with a credit card?

There will probably be fees, depending on how you use your credit card to pay for your mortgage. For instance, you may incur balance transfer, cash advance, or third-party fees.

What are the risks of using a credit card to cover mortgage payments?

You would likely need to use a workaround to pay your mortgage with a credit card, which can require some advance planning and time. And typically, the workarounds will either involve third-party fees and/or repaying your credit card company at a higher-than-usual APR. Building up debt in this way can also have a negative impact on your credit score.

Is it ever a good idea to pay a mortgage with a credit card?

It’s rarely a good idea to pay your mortgage with a credit card. If it’s an emergency and paying with a credit card is your only option, it’s likely better than defaulting on your loan. If you have a new credit card with a signup bonus spending threshold you need to reach within a short time period, it might be worth it to consider paying through a third-party service so long as you are sure you’ll be able to pay off your credit card swiftly.

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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

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SOHL-Q325-025

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Have you heard the term “piggyback mortgage” and wondered what it is? At its most basic, a piggyback mortgage can be considered a second mortgage. It’s usually either a home equity loan or home equity line of credit (HELOC).

Piggyback mortgage loans can sometimes also be a wise option for homebuyers looking to finance a home without having a significant down payment available. In this situation, the piggyback mortgage is taken out at the same time as the main mortgage and put toward the down payment. The benefit is that it may help you pay less over the life of the loan because you don’t need to pay for private mortgage insurance (PMI).

Read on to learn more about what a piggyback loan is and how it works.

What Is a Piggyback Mortgage Loan?

Homebuyers can use a piggyback mortgage loan to help fund the purchase of a property. Essentially, they take out a primary loan and then a second loan, “the piggyback loan,” to fund the rest of the purchase.

Using the strategy helps homebuyers reduce their mortgage costs by enabling them to put down a 20% down payment. It also helps them avoid the need for private mortgage insurance, which is usually required for those who don’t have a 20% down payment.

Note: SoFi does not offer piggyback loans at this time.

Recommended: How to Qualify for a Mortgage

How Do Piggyback Loans Work?

When appropriate for a homebuyer’s unique situation, a piggyback mortgage might potentially save them money in monthly costs and reduce how much they need to come up with for the down payment.

Here’s an example of how piggyback mortgages work:

Jerry is buying a home for $400,000. He doesn’t want to put down more than $40,000 from his savings account for the down payment. This eliminates several mortgage types. He works with his lender through the prequalification and preapproval process to secure a first mortgage for $320,000, then with a piggyback mortgage lender to secure a piggyback mortgage of $40,000, and finishes the financing process with his total 20% down payment of $80,000, the sum of his saved money and the piggyback mortgage.

Piggyback home loans were a popular option for homebuyers and lenders during the housing boom of the early 2000s. But when the housing market crashed in the late 2000s, piggyback loans became less popular, as a lack of equity made homeowners more vulnerable to loan defaults.

Fast forward to today’s housing market. With the cost of living rising in certain areas, piggybacks are starting to become a viable option again.

Recommended: First-Time Homebuyer Guide

Types of Piggyback Loans

Here are some types of piggyback loans to consider:

A 80/10/10 Piggyback Loan

There are different piggyback mortgage arrangements, but an 80/10/10 loan tends to be the most common. In this scenario, a first mortgage represents 80% of the home’s value, while a home equity loan or HELOC makes up another 10%. The borrower’s down payment covers the remaining 10%.

In addition to avoiding PMI, homebuyers may use this piggyback home loan to avoid the conforming mortgage limits standard in their area.

A 75/15/10 Piggyback Loan

A loan with a 75/15/10 split is another popular piggyback loan option. In this case, a first mortgage represents 75% of the home’s value, while a home equity loan accounts for another 15%. And like the 80/10/10 split, the remaining 10% is the part of the down payment the borrower already has.

For example, a $450,000 75/15/10 loan would break down like this:

Main loan (75%): $337,500
Second loan (15%): $67,500
Down payment (10%): $45,000

See how these options stack up in chart form:

	80/10/10 Piggyback Loan	75/15/10 Piggyback Loan
Structure:	80% primary loan 10% 10% HELOC or home equity loan 10% down payment	75% primary loan 15% HELOC or home equity loan 10% down payment
Typical use:	Commonly used to avoid PMI and stay under jumbo loan limits	Commonly used when purchasing a condo to avoid higher mortgage rates

Average Piggyback Mortgage Rate

A piggyback loan usually has a higher interest rate than the primary mortgage, and the rate can be variable, which means it can increase over time. Let’s say your primary mortgage rate is 6.75%. The rate on the second mortgage might be 7.50%. If you borrowed $35,000 over a 10-year term with this piggyback mortgage, your monthly payment for that loan would be about $415. Of course, the exact rates you are able to secure from a piggyback mortgage lender would be based on how much you borrow, your credit score, current interest rates, and other variables.

Benefits and Disadvantages of a Piggyback Mortgage

A piggyback mortgage may help homebuyers avoid monthly PMI payments and reduce their down payment. But that’s not to say an 80/10/10 loan doesn’t come with its own potentially negatives.

There are pros and cons of piggyback mortgages to be aware of before deciding on a mortgage type.

Piggyback Mortgage Benefits

Allows you to keep some cash on hand. Some lenders request a down payment of 20% of the home’s purchase price. With the median American home price at $446,766 as of mid-2025, this can be a difficult sum of money to save, and paying the full 20% might wipe out a buyer’s cash reserves. A piggyback mortgage may help homebuyers secure their dream home but still keep cash in reserve.

Possibly no PMI required. What may be the largest motivator for securing a piggyback mortgage is that homebuyers may not be required to pay PMI, or private mortgage insurance, when taking out two loans. PMI is required until 20% of a home’s value is paid, either with a down payment or by paying down the loan’s principal over the life of the loan.

PMI payments can add a substantial amount to a monthly payment and, just like interest, it’s money that won’t be recouped by the homeowner when it’s time to sell. With an 80/10/10 loan, both loans meet the requirements to forgo PMI.

Potential tax deductions. Purchasing a home provides homeowners with potential tax deductions. Not only is there potential for some or all of the interest on the main mortgage loan to be tax deductible, but the interest on a qualified second mortgage may also be deductible if it is used to buy, build, or substantially improve the home.

Potential Downsides of Piggyback Mortgages

Not everyone qualifies. Piggyback mortgage lenders take on extra risk. Without PMI, there is an increased risk of a financial loss. This is why they’re typically only granted to applicants with strong credit. Even if it’s the best option for you, there’s no guarantee that a lender will agree to a piggyback loan scenario. You’ll see whether the odds are in your favor by going through the process of getting preapproved for your home loan.

Additional closing costs and fees. One major downside of a piggyback loan is that there are always two loans involved. This means a homebuyer may have to pay closing costs and fees on two loans at closing, though some lenders may offer low- or no-cost closings for home equity loans.

Savings could end up being minimal or lost. Before deciding on a piggyback loan arrangement, a homebuyer may want to assess the potential savings. While this type of loan has the potential to save money in the beginning, homeowners could end up paying more as the years and payments go on, especially because second mortgages tend to have higher interest rates.

To make a quick assessment, check whether the monthly payment of the second mortgage is less than the applicable PMI would have been on a different type of loan.

Here are the pros and cons of piggyback loans in chart form to help you decide if this kind of mortgage arrangement is right for you.

How to Qualify for a Piggyback Mortgage

It’s essential to keep in mind that you’re applying for two mortgages simultaneously when you apply for a piggyback home loan. While every lender may have a different set of requirements to qualify, you usually need to meet the following criteria for approval:

•   Your debt-to-income (DTI) ratio should not exceed 36%. Lenders look at your DTI ratio — the total of your monthly debt payments divided by your gross monthly income — to ensure you can make your mortgage payments. Therefore, both loan payments and all of your other debt payments shouldn’t equal more than 36% of your income, although some lenders may go higher.

•   Your credit score should be very strong. Because you are taking out two separate loans, your risk of default increases. To account for this increase, lenders require a strong credit score, usually over 700 (though some lenders may accept 680), to qualify. A higher credit score indicates you’re more creditworthy and less likely to default on your payments.

Before you apply for a piggyback loan, make sure you understand all of the requirements to qualify.

Refinancing a Piggyback Mortgage Loan

Sometimes homeowners will seek to refinance their mortgage when they have built up enough equity in their home. Mortgage refinancing can help homeowners save money on their loans if they receive a lower interest rate or better terms.

If you have a piggyback mortgage, however, refinancing could pose a challenge. It’s often tricky to refinance a piggyback loan because both lenders have to approve. In addition, if your home has dropped in value, your lenders may even be less inclined to approve your refinance.

On the other hand, if you’re taking out a big enough loan to cover both mortgages, it may help your chances of approval.

Recommended: How Much Does It Cost to Refinance a Mortgage?

Is a Piggyback Mortgage a Good Option?

Not sure if a piggyback mortgage is the best option for you? It may be worth considering in the following scenarios:

If you have minimal down payment resources: Saving up for a down payment can take years, but a piggyback mortgage may mean you can sign a contract years sooner than any other type of mortgage.

If you need more space for less cash: Piggyback loans often allow homeowners to buy larger, recently updated, or more ideally located homes than they can with a conventional mortgage loan. This advantage can make for a smart financial move if the home is expected to build equity quickly.

If your credentials are a match: It’s traditionally more difficult to qualify for a piggyback loan than other types of mortgages. For many lenders, you will need to have a strong credit score, stable income and employment history, and an acceptable DTI ratio lined up.

Piggyback Mortgage Alternatives

A piggyback mortgage certainly isn’t the only type available to hopeful homebuyers. There are other types of mortgage loans you may also want to consider.

Conventional Fixed-Rate Mortgage

This type of loan typically still requires PMI if the down payment is less than 20% of the home’s purchase price, but it is the most common type of mortgage loan by far. They’re often preferred because of their consistent monthly principal and interest payments.

Conventional loans are available in various terms, though 15-year and 30-year options are among the most popular.


💡 Quick Tip: Your parents or grandparents probably got mortgages for 30 years. But these days, you can get them for 20, 15, or 10 years — and pay less interest over the life of the loan.

Adjustable-Rate Mortgage

Also known as an ARM, an adjustable-rate mortgage may start homebuyers out with an interest rate that’s lower than they’d get with a fixed-rate loan. However, the interest rate will only remain the same for a certain period of time, typically for one year up to just a few years.

After the initial term, rate adjustments will reflect changes in the index (a benchmark interest rate) the lender uses plus the margin (a number of percentage points) added by the lender.

Interest-Only Mortgage

For some homebuyers, an interest-only mortgage can provide a path to homeownership that other types of mortgages might not. During the first five years (some lenders allow up to 10 years), homeowners are only required to pay the interest portion of their monthly payments and can put off paying the principal portion until their finances more easily allow that.

FHA Loan

Guaranteed by the Federal Housing Administration, FHA loans automatically include built-in mortgage insurance, which makes these loans less of a risk to the lender. But while it’s not possible to save on monthly insurance payments, homebuyers may still want to consider this type of loan due to the low down payment requirements.

Other Options to Consider

Some other alternatives to a piggyback mortgage might include:

•   Speaking to a lender about PMI-free options

•   Quickly paying down a home loan balance until 20% of a home’s value is paid off and PMI is no longer required

•   Refinancing (if a home’s value has significantly increased) to allow the loan to fall below the percentage requirements for PMI

•   Saving for a larger down payment and reducing the need for PMI

The Takeaway

Before signing on for a piggyback mortgage, a homebuyer should fully understand all of their mortgage options. While a second mortgage might be the best option for one homebuyer, it could be the worst option for another. If you select a piggyback mortgage, understanding its benefits and potential setbacks may help you avoid financial surprises down the line.

FAQ

What is a piggyback fixed-rate second mortgage?

A piggyback fixed-rate second mortgage is a home equity loan or home equity line of credit (HELOC) with a fixed rate that is obtained at the same time as the primary mortgage on a home purchase. Because its rate is fixed, the interest rate does not change over the life of the loan.

Is it hard to get a piggyback loan?

Because piggyback borrowers typically don’t pay for private mortgage insurance, the requirements to obtain this type of loan can be more strict than they are for other home loans. You may need a credit score of 680-700 or more and a debt-to-income ratio of 36% or less.

What is the advantage of a piggyback loan?

A piggyback loan can help you avoid having to pay for private mortgage insurance (PMI) if you are making a low down payment on a home purchase. However, you’ll want to compare the costs of the second mortgage (including its closing costs) against the costs of PMI before making a decision.

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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOHL-Q325-047

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