Tag: Mortgage

Posted on 05/28/2023
How to Know if You're Eligible for a VA Loan
A loan from the U.S. Department of Veteran Affairs can be an excellent choice for financing a home purchase. While VA benefits are generally reserved for veterans, there are a few exceptions with mortgage programs. Here are some other ways you could be eligible for a VA loan: Active Duty Fortunately, you don't have to have served in...
Active Duty
Eligibility
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Posted on 08/07/2022
Your quick guide to 30-year mortgage rates
Most homebuyers, even those just starting their first-time homeowner journey, have learned a thing or two about 30-year mortgages. For example, some 30-year mortgages will let you pay the mortgage down earlier than 30-years, while others may fix a prepayment penalty to that plan to make up the loss in revenue from the interest rate. But what about...
15 Year Mortgage
30 Year Mortgage
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Posted on 09/20/2020
Conforming Loan Limit Increase and the Jumbo Market
Image by Arek Socha from Pixabay If you bought a house that was over $484,350 prior to 2020, you had to get a jumbo loan, which is a non-conforming loan. The Federal Housing Finance Agency (FHFA) increased the limit on conforming loans to $510,400 in most areas. The FHFA also increased the loan limit to $765,600 in some...
Jumbo Loan
Mortgage
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Posted on 08/02/2020
Key Factors Regarding Mortgage Rates in Florida
Photo by OpenClipart-Vectors via Pixabay Mortgage rates in Florida are some of the best in the nation. The housing market is growing so fast that builders and sellers are seeing homes come off the market just days after the property has been listed. When it comes time to buy your home in Florida, it's a good idea for...
Mortgage
Buying A Home
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Posted on 11/17/2019
Dispelling Old Mortgage Myths
Myths are lies that are perceived to be true. Like every other industry in the world that has myths surrounding them, the real estate industry has its tales. People have ideas in their head about the mortgage industry that are not true. If you are buying a house and all you feel is happiness, then you might be...
Homebuyers
Mortgage
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Posted on 10/27/2019
PMI and Down Payments
Image by Charles šŸ‡µšŸ‡­ from Unsplash Part of buying a home is researching the market and your finances. Most lenders require you to put at least 20 percent down or pay private mortgage insurance (PMI). Since PMI is a cost that does not lower your interest rate or principal, it’s almost always better to save up that hefty...
Down Payment
Mortgage
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Posted on 08/25/2019
Securing a Mortgage Loan for a Second Property
Most people that obtain a mortgage loan against another property usually plan to buy a second house. This means that they are not ready to sell or move out of their existing place of residence, but they wish to have a second house that they can occupy later, use as a vacation retreat or as an income property....
Mortgage
Second Home
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Posted on 08/04/2019
Pre-Qualification: The First Step in Your Mortgage Qualification Process
Potential home buyers should obtain a pre-qualification letter from their lenders to access a home loan. This letter communicates what the lender thinks about you being qualified for a mortgage up to a certain amount and is dependent on the data you gave about your assets, income, and expenses. Pre-qualification is just the primary step, and it provides...
Prequalification
Real Estate
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Posted on 05/19/2019
Is Refinancing Right For You?
Every homeowner knows how difficult it is to maintain a household. There are so many things that could go wrong in oneā€™s life that committing to significant home payments may cause trouble. Those who have been in debt knows that the reality of real estate is that it goes up. The value of your house would increase with...
Refinancing
Mortgage
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