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RECENT BLOG POSTS
Home buyers are bidding up home prices in competing for the home they want. But appraisals don’t always agree with that final seller’s accepted offer price. Some homes are appraised below the agreed-upon sales price, which could upend a deal.Twenty-three percent of contracts were delayed due to a...
10/11/2021
The average contract interest rate for 30-year fixed-rate mortgages increased to 3.10% from 3.03% in the past week. Applications to refinance a home loan decreased 1% last week from the previous week. The average loan size for a purchase application reached $410,000, its highest level since May....
10/09/2021
Despite increasing talk about interest rates and home prices, mortgage rates for now are likely to stay relatively steady.Investors and homebuyers may expect large fluctuations in mortgage rates, as the Federal Reserve Board of Governors eventually plans to reduce mortgage purchases. But, like al...
10/08/2021
When you’re ready to purchase a home, one of the first things you’ll need to do is get pre-approved for a mortgage. A pre-approval letter is critical, especially in a competitive market, because it shows sellers, you’re serious about buying a home and that you have the financial means to do it.Wh...
10/07/2021
When you borrow to buy a home, you'll need to decide on the loan repayment timeline. You will have a choice, with most lenders offering loans between 15 and 30 years in duration.Loans with a longer loan repayment timeline typically have higher interest rates and cost more over time – but there ar...
10/05/2021
As expected, mortgage rates have risen after the Federal Reserve signaled that it plans to begin reducing the support it’s been providing to the U.S. economy.Home buyers could be caught flat-footed if they don't begin to factor rising interest rates into their budgets. 'At today’s rate, the month...
10/03/2021
How new legislation, CARES Act will affect mortgages on your home during COVID-19 pandemic.Borrowers struggling to make their FHA mortgage payments now have more time to file for forbearance.According to the U.S. Department of Housing and Urban Development, you can now file for forbearance – esse...
10/02/2021
The dollar value of mortgages home buyers are taking out is soaring as they try to afford higher home prices.The average amount for a mortgage averaged $410,000 last week, according to data from the Mortgage Bankers Association. That marks the highest average mortgage amount since May.“With home ...
10/02/2021
A reverse mortgage can make it possible for seniors to remain in their home and supplement their retirement income. While you receive a steady influx of cash with a reverse mortgage, it’s ultimately a loan that needs to be repaid. How do you pay back a reverse mortgage, and when is it necessary? ...
09/30/2021
The process may seem intimidating but doing your homework can pay off.This step-by-step guide will give you smart tips on how to get the best deal when refinancing. Maybe you’re like thousands of homeowners who can’t resist those rock-bottom mortgage rates. And you’ve become enamored with the ide...
09/29/2021
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