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Essential Mortgage Considerations When Looking Into A Second Home

So, you're considering buying a second home? Whether it's a cozy cabin in the woods, a beachfront retreat, or an urban pied-?-terre, the idea of owning a second property is undoubtedly exciting. However, before you get swept away by visions of lazy weekends and family gatherings, it's crucial to understand the financial implications, especially when it comes to mortgages.
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Mortgages and Divorce: Keeping Your Home During Life’s Changes

Divorce or separation is a challenging time, and amidst the emotional and logistical complexities, handling mortgage issues can add another layer of stress.
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Understanding Closing Costs When Buying a Home

Buying a home is an exciting journey, but it's not without its twists and turns. One specific daunting aspect for many homebuyers is understanding the sphere of closing costs.
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What’s Ahead For Mortgage Rates This Week – April 15th, 2024

The Consumer Price Index (CPI) is showing higher than expected inflation, and the Producer Price Index (PPI) is showing lower than expected inflation. The two are in conflict with each other; however, the Consumer Price Index is still the far greater indicator for inflation as it directly impacts the cost of living for everyone, not just production assets.
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Find Something Wrong During a Home Inspection? How to Discuss Repairs or Defects with a Seller

When it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Here are some tips in the event that the home inspection isn't up to par.
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Unlocking Home Equity With Home Equity Loans and HELOCs

Home equity loans and Home Equity Lines of Credit (HELOCs) are two avenues through which homeowners can tap into this valuable asset.
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Negotiating Repairs After a Home Inspection

For many homebuyers, negotiating repairs after a home inspection can be a daunting task. However, with the right approach and some negotiation skills, you can ensure that your new home is in tip-top shape without breaking the bank.
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3 Considerations When Making A Down Payment

When considering the journey of purchasing a new home, one of the fundamental decisions you'll encounter revolves around determining the appropriate amount of money to allocate for your down payment. It's a decision-making process that involves weighing the benefits of opting for a larger down payment against the potential advantages of utilizing some of those funds to purchase "discount points," thereby reducing your interest rate.
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What’s Ahead For Mortgage Rates This Week – April 8th, 2024

With the upcoming CPI and PPI reports this week, last week still had a number of important data points to consider. First, the non-farm payroll data, helping reveal the situation of pay versus inflation data giving an overall description of the state of the economy in the future. Among that, the manufacturing data has shown to be contracting the past year, with the first signs of relief this month. Lastly, trade data has shown that the trade deficit has grown bigger than expected with Q1 coming to completion.
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A Consumer’s Guide To Mortgage Escrow Accounts

Are you in the process of purchasing a home or considering refinancing your mortgage? If so, you've likely encountered the term "escrow account" during your discussions.
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Choosing the Right Mortgage Term

You're about to start on an exciting journey toward homeownership. But before you dive headfirst into the world of real estate financing, there's an important decision you'll need to make which is choosing the right mortgage term.
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Understanding Interest-Only Mortgages

What exactly is an interest-only mortgage? Simply put, it's a type of home loan where you pay only the interest for a certain period, typically the first five to ten years. After this initial period, you begin paying both the principal and interest, resulting in higher monthly payments.
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Exploring the HECM Reverse Mortgage Program for Seniors

For many seniors, home equity represents a substantial portion of their wealth. However, accessing this equity while maintaining homeownership can be challenging. This is where Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, emerges as a potential solution.
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What’s Ahead For Mortgage Rates This Week – April 1st, 2024

As expected from the prior inflation reports with CPI and PPI, the PCE index had also shown the same corollary among its data points, reporting a higher than expected increase for the month of February across all products. In addition, the Chicago PMI had shown a declining trend of activity among businesses for the 6th week in a row. All this points to that there might be a case for the Federal Reserve to continue holding rates in the next rate decision coming up in the summer of 2024. There has been much speculation that the Federal Reserve will begin...
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A Consumer Guide To Second Mortgages

In the realm of personal finance, the term "second mortgage" often emerges as a solution for homeowners seeking additional funds. But what exactly are second mortgages, and how do they work? Join us as we embark on a journey to unravel the basics of second mortgages, helping you make informed decisions about your financial future.
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How to Evaluate Property Taxes and What You Need to Know Before You Buy

Retirement is a significant milestone in one's life, symbolizing the culmination of years of hard work and dedication.
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Exploring the Bright Side: How Mortgage Brokers Differ from Direct Lenders

Today, we're shedding light on the unique roles of mortgage brokers and direct lenders, highlighting the benefits they bring to the table.
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Navigating Down Payment Options: Your Guide to Homeownership

So, you've decided to take the plunge into homeownership - congratulations! One of the most critical aspects of buying a home is figuring out your down payment. It's a significant financial commitment that can shape your home-buying journey.
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What’s Ahead For Mortgage Rates This Week – March 25th, 2024

While it's not a set deal, the Federal Reserve does appear to be on track for a June rate cut, and following its two-day policy meeting, the central bank's rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5% until then. Additionally, the government has also avoided another shut down as a series of rushed bills had approved spending for the government by another 1.2 trillion dollars. This is good news for lending markets as the debt ceiling has previously tied up rate decisions in the past.
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Consumer Guide: Mortgages for Veterans – A Guide to VA Loans

Are you a veteran or an active-duty military member considering homeownership? VA loans offer significant benefits tailored to meet the needs of veterans and service members.
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