Category: Mortgages

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Why aren’t more homebuyers comparing mortgage rates

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  Can you be sure you snagged the lowest mortgage rate possible if you didn’t compare offers from different lenders? For many American homeowners surveyed by …

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Mortgage rates are at a 13-year high. Here’s why

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  Mortgage rates in the United States continued their steep climb last week, adding to the woes of would-be home buyers that are already facing historically high …

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Are we in another housing market bubble? Will it burst again?

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  The housing market is out of control in many areas of the country, with record-high home prices and record-low inventories. Prices had been steadily increasing since 2012, …

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States where mortgage rates are rising most

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Since the start of the year, mortgage rates have risen dramatically. The record-low rates of 2021 are gone, with rates above 5% becoming standard. While a lower rate …

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Is paying mortgage points ever a good idea?

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If you’re shopping for a home mortgage, you’ve probably seen the term “mortgage points.” Before you take the next step to sign a mortgage preapproval or …

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Should you take a loan for mortgage closing costs?

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Borrowers with good credit may get a personal loan for mortgage closing costs. Bringing personal loan money to the closing table can help you finalize your …

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Don’t pay off your mortgage early. Here’s why

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Paying off your mortgage has been a monumental goal for decades now. But is it the right thing to do in the 21st century? Read on …

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7 big mortgage mistakes (and how to avoid them)

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Although mortgage interest rates have recently pulled back some, they’re still historically low. When rates were lower yet, I decided to refinance the mortgage on our home. …

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9 mortgage scams you need to know about

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What is mortgage fraud? Mortgage fraud refers to lying or omitting information to fund or insure a mortgage loan. It results in billions of dollars in …

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Thinking about getting a reverse mortgage? Read this first

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If you’re at or nearing retirement age and looking for a way to generate cash flow, a reverse mortgage can seem like a great idea, especially …

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18 questions you need to ask before closing a mortgage

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Hiring a knowledgeable mortgage lender is one of the first steps you’ll take on your journey to homeownership. A good lender could help you make a …

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Want a mortgage approval? Avoid these 7 mistakes

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How much house can I afford? That is a question many home-buyers ask themselves when they are in the process of buying a new home. Purchasing a home is …

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What is a fixed-rate loan?

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A fixed-rate loan is a lending product that allows eligible consumers or businesses to borrow money with an interest rate that does not change over the …

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Your home insurance is about to get more expensive

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  Homeowners may see an increase in their home insurance premiums in the coming year, according to a white paper released by the American Property Casualty Insurance Association. The spike …

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Mortgage interest deductions explained

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  Homeownership has long been a part of the American dream, and it opens the door to benefits like the mortgage interest deduction for those who …

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These cities saw the biggest rise in home prices this year

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It’s never easy buying a house, and in certain cities, real estate is coming at an increasingly higher cost, now more than ever. Following the onset …

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Why most people don’t get mortgages from banks anymore

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  The housing market is continuing its hot streak with mortgage applications surging into the holiday season, a time when demand typically cools off.  Getting approved for a …

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What is a second mortgage?

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  If you’re a homeowner, your house is not only the place you call home but also an asset. In fact, it’s the largest asset of …

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What is a piggyback mortgage loan & how does it work?

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  At its simplest, a piggyback mortgage can be defined as a second mortgage, typically a home equity loan or home equity line of credit (HELOC). …

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Here’s how your mortgage compares to your neighbors’

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  Figuring out how much home you can afford entails much more than the interest rate on a mortgage loan and what your monthly mortgage payment …

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How to buy a home when you’re single

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  Buying a house as a single woman has become more mainstream over the past few decades. This rise is partly due to an increase in …

Mortgages

What Is an assumable mortgage?

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Homebuyers have more mortgage loan options available when buying a home than they may think. One of those could be the assumable mortgage, a home loan …

Mortgages

Can you lose your house with a reverse mortgage?

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For older Americans who may find they need more money in retirement, using a reverse mortgage to convert some of their home’s equity into cash can …

Mortgages

What is mortgage forbearance?

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When homebuyers take out a mortgage, they’re likely dreaming about living out their days in a house of their own—whether that means bedecking the front porch …

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Top 30 states with mortgage foreclosures for March

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Despite the economic fallout and job loss from the pandemic, the number of U.S. properties with foreclosure filings in March was 11,880, down 75% from last …

Mortgages

A guide to lender-paid mortgage insurance

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Homebuyers have a variety of conventional mortgages to choose from. The element most have in common is private mortgage insurance—usually required when the down payment is less …

Mortgages

How often can you refinance your home?

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Other than possible lender-imposed waiting periods after a mortgage loan closes, you can refi as many times as your heart desires. But you’ll want to crunch …

Mortgages

Tips when shopping for a mortgage

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Shopping for a car: fun, freeing and full of fresh new smells. Shopping for a puppy: heartwarming and full of suspicious smells. Shopping for a mortgage: …

Mortgages

What is a good mortgage rate?

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Because your interest rate is the cost you pay to borrow money, it makes sense that you’ll want to strive to get the lowest rate possible. …

Mortgages

What is mortgage amortization?

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If you’re looking into getting a mortgage for the first time, congratulations! You’re about to embark on a brave new adventure in adulthood. Like most adventures, …