Lending / Financial

Buying real estate is even more challenging for those of us whose eyes glaze over at the mere mention of decimals, percentages or anything else that even hints of mathematics.


The financial aspect of purchasing the largest investment of your lifetime, though, is the most important. Nobody wants to lose money. Nobody wants to leave money on the table.


If you're in the market for information on mortgages, credit scores and interest rates, you've come to the right place. The financial and mortgage pros here at ActiveRain even tell you how to shop for and compare lenders, how to raise your credit score, how to get a mortgage after a short sale or foreclosure and how to get pre-approved for a mortgage loan. Even Mom and Dad can't give the great advice you'll find here at ActiveRain.


Plan to spend some time here because ActiveRain's content library is massive. Lucky for you we've arranged it so that it's über user-friendly. You'll be amazed at how easy it is to put your finger on just the information you're looking for without having to surf a million other pages.

Recent blogs on Lending / Financial
By Brian Skaar, VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
(VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender)
Nashville Tennessee is becoming more popular every year.  This is evidenced by Nashville's robust housing market, where houses sell for much more than other parts of Tennessee.   The nightlife, professional sports, employment opportunities, as well as good old Tennessee countryside make Nashville what it is today. 2023 Home loan limits for Nashville are much higher than the rest of the state.   For example, conforming loans are available in 2023 up to $890,100 for Nashville homebuyers.  This is $163,900 higher than the rest of the state.   Nashville FHA Loans also cap out at $890,100, which is a whopping $418,070 more than most of Tennessee.   Nashville VA Loans actually have no limit for Veterans with full VA Entitlement available.  However, there is a Nashville VA Loan Limit for 2023 ...
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By Ron Trzcinski, 410-935-5844
(410-935-5844 Office)
Conforming Loan Limits to IncreaseThe Federal Housing Finance Agency (FHFA) will increase conforming loan limits, effective January 1, 2023, by about 12.2%The FHFA determines the amount of the increases once it has received the third quarter housing sales numbers.For most counties in the country, the limit will increase from $647,200 to $726,200.The highest conforming loan limit, which will be available in 99 counties in the country, will be $1,089,300.Note, these limits are based on home prices and not on interest rates, affordability, wages, inflation and so on.In Maryland, the high limit of $1,089,300 applies to five counties: Calvert, Charles, Frederick, Montgomery, and Prince George's.Check with your lender to determine the limits for the area where you are looking to purchase.If y...
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By Melissa Thompson, I'm a real estate agent helping buyers and sellers
(Thompson Real Estate)
Are you facing the heart-wrenching reality that your home is going into foreclosure?In 2007, 1.5 million American properties fell into foreclosure. As the mortgages got more expensive and the regulations got tighter, more and more people found themselves in this challenging situation.Can you sell a house in foreclosure? Are you hoping to sell the house to the bank and move on? Read on to learn all about selling a home in foreclosure.Can You Sell a House in Foreclosure: Don't Give UpIf you are in the foreclosure process, you may be wondering if you can still sell your house. The answer is yes; you can still sell your home, even if it is in foreclosure.There are a few things to keep in mind, however, if you plan to sell your home in foreclosure. First, you will need to find a buyer willin...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Exciting news to help with your home purchase!  "HUD has increased the popular 3.5% down payment FHA loan limits for 2023" per Ryan Spencer of AZ Mortgage Group, LLC.  Specifically, "Maricopa County (Phoenix Metro) FHA loan limits will increase from $441,600 to $530,150 for single-family residences.  This is a $88,550 increase that goes into effect on January 1st, 2023." (Photo: Family White 77 from Pixabay)   Maricopa County Arizona FHA Loan Limit Breakdown:          $530,150               Single Family          $648,700              Two-Family          $820,350              Three-Family          $1,019,55               Four-FamilyFHA loans are eligible for single family, duplexes, triplexes and Fourplexes. Other Counties in Arizona will have different loan limits for 2023.FHA loans ca...
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By Mike & Cindy Jones, Real Estate - (904) 874-0422 - Jacksonville, Fl
(Berkshire Hathaway HomeServices Florida Network Realty)
Thanks to Meredith Medvec and Prosperity Home Mortgage for these 5 easy ways to pay off your mortgage. Paying your mortgage off early will provide a feeling you will not regret not to mention can save you thousands in mortgage interest.Connect with Meredith Search Homes for sale in North East Florida Mike & Cindy Jones, Realtors, Jacksonville Real Estate Agents904 874-0422MikeAndCindyJones.comBerkshire Hathaway HomeServicesFlorida Network Realty
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
               Latest rates, based on 20 percent down, $200,000 owner-occupant mortgages. The rates and terms may vary; check with lenders for details. Rates may have changed click here to verifyWednesday, November 30, 2022  Lender Term/Type Interest Rate % Points % *APR Acclaim Capital Mortgage808-383-5931NMLS#304090 15-YR Fixed 4.750 1.939 5.138 30-YR Fixed 5.500 1.824 5.717 5-YR ARM       Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.000 2.000 5.482 30-YR Fixed 5.750 1.750 6.021 5-YR ARM 4.875 1.750 5.129 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.000 2.000 5.431 30-YR Fixed 5.875 1.875 6.132 5-YR ARM 4.875 1.875 6.114 Bank of Hawaii877-616-2636 15-YR Fixed 5.125 2.250 5.473 30-YR Fixed 5.875 2.125 6.075 5-YR ARM 4.625 2.375 5.940 Central Pac...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock the 2023 Conforming Loan Limits!!!  I ain't foolin'! Even though there's been a whole lotta interest rate hikes in 2022.  And even though there's been a whole lotta rumbling about home values declining in some areas, the FHFA will again be increasing the conforming loan limits into 2023. This means that where the one-unit conforming limit was $647,200 in 2022, it will become $726,200 in 2023. And in high-cost (aka high balance) metropolitan statistical areas like much of CA, NY and other housing-expensive counties, you may see the conforming limit go from $970,800 all the way up to $1,089,300. Note that FHA and VA loan limits fall outside of this change, so if you need to know the specific loan maximums for any program, in any area, just get in touch!  Been a long time!  Rob...
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By Dick Betts, REALTOR® The Villages, Florida
(TOUCHSTONE REAL ESTATE)
Today I posted below on all of our listing in both public comments and Realtor remarks.“With full price offer, seller is amenable to a buyer credit in order to effectuate a 2/1 rate buy down, if financed.  Specific terms to be fully negotiated between buyer and seller at the time of buyer offer.”With interest rates where they are today we need to find creative ways to finance purchasing a home.  The experts can’t agree on whether rates are going up or down or moderating so what can Realtors and lenders do in this market?  Get creative which is what the 2-1 Buy Down is all about.  Many Realtors recommend price cuts why not find a way to make home buying more attractive in today’s market other than slashing prices.  Interest rates is one of the leading reasons people are delaying buying a...
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By Melissa Thompson, I'm a real estate agent helping buyers and sellers
(Thompson Real Estate)
Do you keep hearing that buying investment properties is a great opportunity? Have you been looking into it, but aren't sure if it's something you want to do? This is common.Investing in real estate can be a great opportunity, but it can be a little scary to jump into something if you aren't sure where to begin. But it turns out that jumping in is actually the easiest part. Once you understand the advantages of investing in real estate, you'll wonder why you didn't already have properties.Here is a quick guide to why you should invest in real estate and the many benefits you'll receive. Keep reading!1. Tax BenefitsThere are numerous tax advantages to owning investment properties, including the ability to deduct mortgage interest, property taxes, and many of the operating expenses associ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
If you are interested in purchasing a home, how much money should you put down? This is a difficult question that all potential homeowners need to answer, as it will dictate the size and location of the house you can afford. There are a number of factors to consider, so what do you need to know? Generally, Putting More Down Is BetterThere is a solid chance that a home loan is going to be the largest loan you will ever take out in your life. Therefore, there is some risk involved, and you must make sure you can pay it back. You can reduce the risk you take on by putting more money down. That way, you don't necessarily have to take out such a large loan, and your lender may provide you with a lower interest rate. This could save you thousands of dollars over the life of the loan.First-Tim...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP Many people know what a credit score is, and some know their personal score. But it has such a large impact on lifetime finances that it’s important to know more.   courtneyk / getty images NOVEMBER 11, 2022 Share this article: FacebookTwitterLinkedInPrintShare Credit Scores: How Are They Calculated? By Adriana Morga NEW YORK (AP) – You know credit scores exist. You might even know what yours is. But do you know how it’s calculated and why it’s important? Your credit score affects whether you can get a credit card, rent an apartment, buy a house, start a business, or even get a cell phone contract. A low credit score can limit your choice of loans or determine if...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
New Home Sales Surpass Expectations in OctoberThe Commerce Department reported higher-than-expected sales of new homes during October. New homes sold at a seasonally-adjusted annual pace of 632,000 homes sold.  Analysts expected new homes to sell at an annual pace of 570,000 sales as compared to the revised annual pace of 588,000 new home sales in September. The supply of available new homes rose by 1.50 percent between September and October and approached a nine-month supply of new homes for sale. Rising mortgage rates affected affordability for first-time and moderate-income home buyers, but average mortgage rates fell last week.Mortgage Rates Fall, Jobless Claims RiseFreddie Mac reported lower average mortgage rates last week as the average rate for 30-year fixed-rate mortgages fell ...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
A Look Into the Markets   A little history about the Thanksgiving Holiday: Sarah Joseph Hale campaigned for a national Thanksgiving in the United States during the 19th century, eventually winning President Abraham Lincoln's support in 1863. He and subsequent presidents proclaimed a National Day of Thanksgiving annually for the last Thursday in November. In 1870, Congress passed legislation making Thanksgiving (along with Christmas Day, New Year's Day, and Independence Day) a national holiday. On December 26, 1941, President Roosevelt issued a proclamation designating the fourth Thursday in November (which is not always the last Thursday) as Thanksgiving Day. And now, a look into the markets... "I think we can slow down from the .75% at the next meeting. I don't have a problem with that...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on U.S housing markets, housing starts, and building permits issued. Data on sales of previously-owned homes were released along with weekly reports on mortgage rates and jobless claims. Builder Sentiment on Housing Markets Declines in NovemberNovember’s National Association of Home Builders Housing Market Index fell five points to an index reading of 33; analysts expected a reading of 36. November’s reading was the lowest since June 2012 except during the pandemic.All three indices contributing to the Housing Market Index were lower in November than in October. Homebuilder sentiment regarding current sales conditions fell six points to an index reading of 39; by comparison, this reading was 83 in November 2021. Builder confidence in home...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP I host a lot of open houses a week so get the chance to meet potential buyers and many bring up interest rates.  They ask what do you think will happen with interest rates, hmmm I need an answer that sounds good without making a prediction. Here is my plan: I went to Amazon and ordered a crystal ball and started researching terms and trends to build my presentation, here is my line I plan on saying while staring into my crystal ball: Interest rates are tied to many factors and most consumers see what the fed is charging for financial institutions which can affect but also can Treasury Bonds and the yields tied to the bonds which we must consider mortgage based se...
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By Nick Marr, Promoting real estate internationally
(HOMESGOFAST)
According to the Relationship for Financial Coordinated effort and Progression, the Bank of Canada would then augment loan fees despite how fast as 4.5% before the year might be out, which is essentially higher than the starter 2 - 3.5% expected by monetary trained professionals and past the Bank's 3% pay improvement guess.Canada interest rate forecast:As demonstrated by the report, more incredible canada interest rate forecast fee figures should diminish commonly increasing costs one year from now and the following. Regardless, CPI improvement will remain clumsily high, requiring the continuation of the cash-related fixing plan. This will tumble from 8.2percentage concentrates right now to 6.5percentage subjects in 2020 in the G20 monetary structures and from 6.2percentage centers this...
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By Dick Betts, REALTOR® The Villages, Florida
(TOUCHSTONE REAL ESTATE)
I host a lot of open houses a week so get the chance to meet potential buyers and many bring up interest rates.  They ask what do you think will happen with interest rates, hmmm I need an answer that sounds good without making a prediction.Here is my plan: I went to Amazon and ordered a crystal ball and started researching terms and trends to build my presentation, here is my line I plan on saying while staring into my crystal ball:Interest rates are tied to many factors and most consumers see what the fed is charging for financial institutions which can affect but also can Treasury Bonds and the yields tied to the bonds which we must consider mortgage based securities (MBS) which are bundled and sold by Fannie Mae.  The crystal ball says it expects bond yields to go down while MBS goes...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Fees can eat away at your money if you don’t keep on top of your banks enforced regulations. U.S. consumers paid $15 billion in overdraft fees in 2016, according to the Consumer Financial Protection Bureau. Here are a few bank fees you can look out for:Overdraft FeesThese are often charged in response to bounced checks or a debit charge when the customer doesn’t have enough money in their account to cover a transaction. The average amount consumers overdraft by is about $24, according to the CFPB. But most banks charge about $34 in fees for each overdraft.To avoid these fees, don’t sign an opt-in form from your bank, which allows it to cover a transaction that you don’t have enough money for in your account. The CFPB is trying to change the consent forms for overdraft service to make th...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
I saw this article on CNBC and it made me think. Here's the title: Demand for riskier home loans is high as interest rates soar.  At first glance, a title like that sends little chills up my spine. 2008-2009 anyone? Reading the article, I found that it was filled with mortgage market jargon: "Total mortgage application volume dropped 2% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index, a consequence of surging rates. The average rate for 5/1 ARMs, which has a fixed rate for the first five years, increased slightly, but was still lower, at 5.56%. The ARM share of applications was just under 12%. When rates were lower at the start of this year, that share was barely 3%, where it had been for several years. ARMs can be fi...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
 At IPX1031, we pride ourselves on being the industry leader in 1031 expertise, service, and security. We aim to be your complete information resource and look forward to helping you and/or your clients maximize qualifying investments through a 1031 Exchange. For more information about 1031 Exchanges, our company, our complimentary 1031 Exchange webinars, or to initiate an exchange, visit our website at www.ipx1031.com or email or call today. Bottom Line Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Work with a real estate professional to understand your budget and how you can be prepared to buy your home before rates climb higher.  My Home own search! How to get a Mortgage and FREE Cr...
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