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Shared Equity vs. Traditional Loans

When it comes to purchasing a home, most buyers tend to opt for traditional financing methods like Conventional, FHA, or VA loans. These tried-and-true options have been the cornerstone of home financing for decades.
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Understanding the Financial Power of Mortgage Points

In the world of home financing, mortgage points are a powerful yet often misunderstood tool that can significantly impact your long-term financial outlook.
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Where Does the Money for Your Mortgage Loan Really Come From?

If you're considering a mortgage loan, you might wonder where the money actually comes from. It's not as simple as walking into your neighborhood bank and getting a loan directly from their vault, like it used to be decades ago.
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What’s Ahead For Mortgage Rates This Week – October 14th, 2024

The CPI and PPI reports delivered their data, showing inflation figures slightly below expectations. However, the positive impact of these reports was tempered by hawkish comments from Federal Reserve members during recent meetings. Despite this, the overall outlook remains optimistic, as further rate cuts are anticipated. Lending partners have also responded positively, significantly lowering their lending rates over the past month.
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Are You In A Position to Cosign on a Loan?

As home prices continue to rise, some buyers may struggle to qualify for a mortgage on their own. In these cases, a mortgage cosigner can be a helpful solution
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What Is A Home Loan Offset Account And How Does It Work?

Looking for ways to reduce the amount of interest you pay on your mortgage and shorten its lifespan? A home loan offset account might be the solution.
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Does Your Home Loan Have a Prepayment Penalty?

Buying a home is a huge milestone, and the excitement of closing can lead many buyers to quickly accept any mortgage offer without fully understanding its terms. One important detail to watch for is whether your mortgage includes a prepayment penalty.
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Consolidate Credit Card Debt with a Cash-Out Refinance

If you're feeling overwhelmed by credit card debt, a cash-out refinance may be an effective way to manage it. This type of mortgage allows you to utilize your home's equity to pay off high-interest credit cards, consolidating them into a single, lower-interest mortgage payment.
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What’s Ahead For Mortgage Rates This Week – October 7th, 2024

Last week was a fairly light week, with the non-farm payroll data being the most significant release. The data showed that payrolls are growing at a faster rate than historical trends suggest, which could indicate that inflation is still above the Federal Reserve's target. In contrast, the upcoming week has a busy schedule, with many important economic releases lined up back to back.
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How to Get a Mortgage Without a Credit Score

Getting a mortgage without a credit score may seem like a tough task, but it is possible. Many assume that a credit score is a must, but if you don't have one, you can still pursue your dream of homeownership. Here's how.
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Do VA Entitlements Ever Expire?

The VA home loan program is one of the most valuable benefits offered to those who have served in the U.S. military, providing veterans and active-duty personnel with access to favorable mortgage terms. One common question is whether these VA entitlements ever expire.
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Steps to Take Now to Build Your Credit for a Home Purchase Next Year

If you're thinking about buying a new home next year, there's one important factor to consider before you start browsing listings--your credit score. A strong credit score can make a huge difference in the interest rates you will qualify for and can also determine your mortgage approval.
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How Much Equity Can You Borrow Today?

Your home equity represents one of your most valuable assets. When it comes to borrowing against that equity, many homeowners question how much can they borrow. Understanding the amount of equity you can tap into today is essential, especially if you're considering a home equity loan or line of credit (HELOC) for major expenses like home improvements, debt consolidation, or other financial needs.
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What’s Ahead For Mortgage Rates This Week – September 30th, 2024

With the release of the PCE Index data, we are seeing the trend hold as inflation continues to slow down. This gives the Federal Reserve room to continue its rate cuts in the future. Following the positive news for inflation data, the GDP has also seen a larger-than-expected growth of 3% this quarter. The only data running against the tide is the Consumer Confidence reports, which reported to show that consumers are at their most anxious since 2021. We should expect a greater impact on the lending and broader markets ahead of the elections.
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VA vs FHA vs USDA What’s the Difference?

You may have more options than you think when it comes to securing a mortgage for your new home. While many buyers opt for conventional financing, another option or program might be a better choice for you, depending on your personal and financial situation. Learning more about FHA, USDA, and VA loans ensures you get the best possible deal for your mortgage and that you secure the loan that you need for your new home. Here's what you need to know about these useful mortgage options.
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An Overview Of Umbrella Insurance: How It Works

Accidents can happen from time to time, which is why it is important for people to have insurance. While you might be able to fix some accidents on your own, others can lead to a significant amount of financial stress.
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Eco-Friendly Homes for a Sustainable Tomorrow

In recent years, the concept of eco-friendly homes has gained significant traction, and for good reason. As awareness of environmental issues grows, more homeowners are seeking ways to minimize their carbon footprint while also reaping the benefits of sustainable living.
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Tips and Insights on Home Buying with Bad Credit

When thinking about homeownership, a perfect credit score often seems like the golden ticket. But what if your credit history isn't picture-perfect?
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What’s Ahead For Mortgage Rates This Week – September 23rd, 2024

The long-awaited week has come and within expectations, the Federal Reserve has decided to reduce interest rates for central banks by 50 basis points. This is the bigger of the two options for a rate cut, with the lesser being 25 basis points. The impact of this cannot be understated as this gives an official nod that the economy is in a good spot and inflation is under control, according to the Federal Reserve's outlook on the data. The only black mark on the week of releases is the U.S. Leading Economic Indicators showing the economy has been in a...
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Understanding Hidden and Non-Hidden Mortgage Fees

When navigating the mortgage process, understanding the various fees involved is crucial for accurate financial planning. Mortgages come with a range of fees, some of which are clearly outlined and others that may not be immediately obvious. We will explore both hidden and non-hidden mortgage fees, providing insights into how they impact the total cost of your loan.
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