Tag: Mortgage

Pros and Cons of Adjustable Rate Mortgages

Pros and Cons of Adjustable Rate Mortgages

April 18, 2018 |

When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage. In some cases, an adjustable rate mortgage (ARM) may be your best option, but keep in mind, they are not the answer for everyone.

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Should You Pay Discount Points When You Get Your Mortgage?

Should You Pay Discount Points When You Get Your Mortgage?

April 17, 2018 |

One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy “discount points” to lower your interest rate.

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Look Beyond The Interest Rate: What Else Matters When Choosing A Mortgage Lender?

Look Beyond The Interest Rate: What Else Matters When Choosing A Mortgage Lender?

April 12, 2018 |

Most consumers securing a mortgage plan to remain in that loan for 30 years. During that time, the borrower maintains a relationship with the loan servicer or lender. Most often, home buyers do not think twice about who the mortgage lender is, but rather focus on the interest rates offered.

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How The 2018 Tax Changes Can Affect Your Mortgage

How The 2018 Tax Changes Can Affect Your Mortgage

April 11, 2018 |

When the chatter was at its peak on the 2018 tax law changes being proposed, one of the big areas of concern for homeowners was the elimination of the mortgage interest deduction. Right behind that issue was a similar treatment with regards to property tax deductions.

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Manage These 3 Items Before Applying For A Mortgage

Manage These 3 Items Before Applying For A Mortgage

April 10, 2018 |

Mortgage lenders weigh the risk of getting their principal and interest paid back by looking at the qualities of the prospective borrower. Due to the amount of money being requested and lent to purchase homes, those requirements can become daunting.

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Questions and Answers Regarding The Veterans Loan Program

Questions and Answers Regarding The Veterans Loan Program

April 3, 2018 |

Owning a home is important to military veterans just like the majority of other consumers. The Veteran’s Administration has provided an exceptional benefit for those who have served (or are currently serving) in any of the armed forces. And this VA Loan Program is helping thousands of service members achieve the goal of home ownership.

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The Younger Mortgage Market: Move Over Millennials, Gen Z Is Moving Into Home Ownership

The Younger Mortgage Market: Move Over Millennials, Gen Z Is Moving Into Home Ownership

April 3, 2018 |

Although the majority of the Generation Z population make $25,000 or less per year, they really have embraced the American Dream of home ownership.

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A Mortgage Pre-Approval Can Help You In Your Home Purchase Negotiations

A Mortgage Pre-Approval Can Help You In Your Home Purchase Negotiations

March 29, 2018 |

A mortgage pre-qualification is an initial estimate of what type of mortgage a borrower could get. It is limited, though, because it’s only based on what the borrower tells the lender, which might not be the same as what the lender finds out when it goes through a full process of analyzing the borrower and his credit.

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Over 5 Trillion Dollars In Home Equity May Lead To More Cash Out Transactions

Over 5 Trillion Dollars In Home Equity May Lead To More Cash Out Transactions

March 27, 2018 |

US homeowners now have over 5 trillion dollars in home equity which is a very large amount of money! So this year may be the year for a lot of cash out refinances and other home equity mortgage products. Most often, when you are purchasing a home, you are buying at or below the appraised value and you are making a down payment.

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The Four Best Questions To Ask Before Refinancing Your Mortgage

The Four Best Questions To Ask Before Refinancing Your Mortgage

March 20, 2018 |

When trying to decide what to do, compare the cost of refinancing with what it would cost you in additional interest to hold on to your existing loan. While the breakdown is different for every borrower, generally, you’ll need to keep your current house and loan for anywhere from three to six years to break even on the costs of refinancing.

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