Home Authors Kat Aoki
Kat Aoki

Kat Aoki

Writer

Kat Aoki is a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time.

Expertise

  • Mortgages
  • Home equity loans
  • Mortgage refinancing

Experience

  • Freelance writer for over 12 years, with a focus on technology, fintech, personal finance, home loans and real estate
  • Hundreds of bylines with industry-leading brands, including Amex, Citibank, Lenovo, Canon, Microsoft, GE Money and Thomson Reuters
  • Worked in IT with experience as a Microsoft Certified Database Administrator (MCDBA)

Education

  • Bachelor of Science in Business Administration and Marketing | California State University, Sacramento
  • Microsoft Certified Database Administrator (MCDBA)

Industry insights from Kat Aoki

We asked Kat to flex her expertise and answer some of our most burning questions about the state of the mortgage industry in a post-COVID world.

How much do you have to put down so you don’t have to pay private mortgage insurance?

Most conventional mortgages require you to make a minimum down payment of 20% to avoid paying private mortgage insurance (PMI) on top of your regular repayment. PMI is a type of insurance that protects lenders if the borrower defaults on their loan. However, some lenders offer special loan programs that don’t require PMI. For example, VA loans have no PMI, medical professional loans often have no PMI requirements, and some first-time homebuyer programs might forgo PMI in exchange for a higher rate — although this may not save you money.

As we get closer to seeing the end of the coronavirus pandemic, do you think it's better to take out a 15- or 30-year mortgage?

The choice between a 15- year versus a 30- year loan really boils down to how much you can afford to pay toward your mortgage every month. In general, it’s always better to pay off your loan faster than slower. So, if you can afford the higher monthly payments, go with a 15-year mortgage, as it can shave tens of thousands of dollars off your interest over the long run. But as the 2020 showed us, life isn’t always predictable, so choose the term length and monthly payment that best fits your needs during times of financial ups and downs.

My house has significantly increased in value since 2020. Is now a good time to tap into my home equity so I can get cash out?

Tapping into your home equity with a home equity loan, line of credit or cash-out refinance can give you access to cash for a range of needs. But I wouldn’t advise borrowing against your home’s equity unless you have a financially sound reason for doing it — for example, to pay for home improvements, for property or business investment purposes, for debt consolidation or to pay down high-interest student loans. Borrowing against your home equity increases your debt, which you have to pay back either now or later. When it comes to taking on more debt, it’s always important to weigh the pros and cons.

Latest articles by Kat Aoki

166 articles written by this author

5 best cash advance apps that work with Cash App

Find the 5 best cash advance apps that work with Cash App, plus the pros and cons.

Kat Aoki 30 November 2023
5 best cash advance apps that work with Cash App

Best no-doc business loans of November 2023

Compare the best nine lenders that offer no-document or low-doc loans.

Kat Aoki 22 November 2023
Best no-doc business loans of November 2023

Clearco business loans review

Clearco provides short-term working capital for e-commerce businesses. Learn more.

Kat Aoki 16 November 2023
Clearco business loans review

Best commercial truck financing of 2023

Best financing options for trucking companies to cover licensing, new trucks, insurance, vehicle maintenance and more.

Kat Aoki 9 November 2023
Best commercial truck financing of 2023

Lendzi business loans review: Compare multiple business loans in one place.

Lendzi lets you compare multiple business loan options in one place. Here’s how it works.

Kat Aoki 27 September 2023
Lendzi business loans review: Compare multiple business loans in one place.

Novo Funding merchant cash advance review

Get up to $75,000 with a Novo merchant cash advance.

Kat Aoki 18 September 2023
Novo Funding merchant cash advance review

Loans like Elastic

Save money with these 7 alternatives to Elastic.

Kat Aoki 14 September 2023
Loans like Elastic

Revolut personal loans review: A quick-turnaround personal loan for Revolut customers.

Quick turnaround loans up to $30,000 — but they’re not available in the US just yet.

Kat Aoki 14 September 2023
Revolut personal loans review: A quick-turnaround personal loan for Revolut customers.

Best small business cash flow loans of 2023

Compare the best business cash flow loans in 2023.

Kat Aoki 13 September 2023
Best small business cash flow loans of 2023

Best short-term business loans of 2023

Compare the best short-term business loans in 2023.

Kat Aoki 5 September 2023
Best short-term business loans of 2023
Go to site