Mortgage

May 19, 2024

Avoiding Predatory Lending: Understanding and Protecting Yourself

Understanding and Avoiding Predatory Lending

While predatory mortgage lending isn’t as widespread as it once was, there are still individuals who take advantage of the financial vulnerability of others. Here’s what you need to know about predatory lending and how you can safeguard yourself from unscrupulous lenders.

 

What is ...

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May 17, 2024

A Reassuring Outlook: Housing Market Stable Amid Recession Concerns

In recent years, recession concerns have loomed large, triggering worries reminiscent of the 2008 housing crisis. However, a closer examination of current expert analyses paints a more reassuring picture, dispelling apprehensions of an imminent economic downturn.

Jacob Channel, Senior Economist at LendingTree, offers an optimistic assessment of the economy's ...

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May 9, 2024

What Are Some Ways to Utilize Your Tax Refund If You're Considering Buying a Home?

Are you saving up to buy a home this year? If so, you are likely aware of the various expenses involved, from the down payment to closing costs. However, did you know that your tax refund could assist with covering some of these costs? As explained by Credit Karma, if ...

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May 3, 2024

Understanding PITI and Its Impact on Your Mortgage

When delving into the world of mortgages, homebuyers often encounter a slew of acronyms and jargon that can be confusing. One crucial term to grasp is PITI, which stands for the four major elements that constitute a typical home loan payment: Principal, Interest, Taxes, and Insurance.

PITI Explained: The Four ...

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Posted in Buying a Home, Mortgage
April 23, 2024

Determining Your Ideal Home Budget: 5 Tips for Informed Decision-Making

So, you have made the exciting decision to purchase a new home. But now comes the crucial question: How much can you truly afford? To guide you through this pivotal step and simplify the process, we have outlined five invaluable tips to assist you in determining your optimal home budget ...

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Posted in Buying a Home, Mortgage
April 17, 2024

Decoding the Timeline of Mortgage Pre-Approvals: How Long Do They Last?

When it comes to purchasing a home, obtaining a mortgage pre-approval is a crucial step in the process. This pre-approval not only gives you a clear understanding of your budget but also establishes you as a serious contender in the eyes of sellers. However, it's essential to be aware ...

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Posted in Buying a Home, Mortgage
April 13, 2024

Considering Tapping Into Your 401(k) for a Home Purchase?

Are you envisioning your own home and pondering how to save for a down payment? Many people find themselves in a similar situation, contemplating the possibility of using their 401(k) savings to make their dream home a reality. However, before taking the plunge into your retirement fund to buy ...

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Posted in Buying a Home, Mortgage
April 7, 2024

Exploring Mortgage Rate Updates: What You Need to Know

Exploring Mortgage Rate Updates: What You Need to Know

You might be curious about the current trajectory of mortgage rates, given recent buzz. There was anticipation of rate cuts this year, potentially lowering mortgage rates, stemming from discussions surrounding the Federal Reserve's (the Fed) actions on their Fed Funds ...

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April 5, 2024

Guide to Buying a House with Low or Bad Credit

Purchasing a house is an exciting journey, but it can be daunting, especially if you have a low credit score. Many individuals dream of transitioning from renting to becoming first-time homebuyers, but they may feel discouraged by their credit situation. However, the good news is that buying a house with ...

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Posted in Buying a Home, Mortgage
March 28, 2024

Navigating Adjustable-Rate Mortgages

With the upward trend of mortgage rates and continued escalation of home prices, many borrowers are considering the benefits of adjustable-rate mortgages (ARMs). While this mortgage type can offer a more affordable entry into homeownership, it comes with risks. In this guide, we explore why ARMs are gaining popularity, how ...

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Posted in Buying a Home, Mortgage