Lending, Real Estate

When It’s Worth It to Refinance Your Mortgage

“With mortgage rates dipping, you may be thinking about a refinance of your mortgage. Whether or not you should refinance depends on your mortgage and current financial situation. When you refinance your home, you pay off your current mortgage in full by taking out a new mortgage. There are three common scenarios for refinancing: You want to score a lower interest rate and/or…

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Lending, Real Estate

Low Down Payment Home Loans: Which is Best for You? | Zillow Blog

“Thanks to shifts in the lending landscape, the dream of buying a home is becoming a reality for many Americans. The Federal Housing Administration (FHA) recently made a drastic 0.5-percent cut to mortgage insurance fees, making this 3.5-percent down payment loan option much more affordable for home buyers. And just before that, Fannie Mae and Freddie Mac rolled out loans that require…

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Lending, Real Estate

Why Everyone Is Talking About Mortgage Rates | Realtor Magazine

“Borrowing costs got even cheaper for home buyers and refinancers this week, as mortgage rates continued to descend. The 30-year fixed-rate mortgage averaged 3.66 percent this week, the lowest weekly average since May 23, 2013, Freddie Mac reports in its weekly mortgage market survey. What’s more, the 15-year fixed-rate mortgage dropped below 3 percent, also for the first time since…

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Lending, Real Estate

Mortgage Rates Fall to Lowest Level in Nearly 2 Years – Realtor.com

“The average interest rate on a 30-year fixed mortgage dipped to 3.66% from 3.73% last week, according to the latest survey from Freddie Mac. A year ago at this time, it trended at 4.41%. The average rate on a 15-year fixed mortgage also registered a drop, to 2.98% from 3.05% last week. A year ago, it averaged 3.10%, according to Freddie Mac.”…

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Lending, Real Estate

How Foreclosure Works

“Getting back on track If you’re falling behind on your payments, the best thing you can do is work with your lender. Many lenders want to avoid foreclosure just as much as you do and are willing to offer several payment solutions to help you. They include the following: Forbearance – The lender agrees to allow you to delay payments, tacking them…

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Lending, Real Estate

Got Credit Report?

Looking to buy a home in Northwest Las Vegas? Concerned about your credit score? Read on… Your credit can make or break you when it comes to qualifying to buy a home. If you have a credit score above 740 you are sitting pretty. Kudos to you. But what if it’s below that? Should you just throw in the towel…

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Lending

Struggling With a Down Payment? This Program May Be For You!

Question: Are there any first time buyer programs out there for people struggling with a down payment? Answer: Yes! This new program for first time buyers is called the NHF First Down Program. To get to the down payment amount, the borrower ends up applying for a first and second mortgage loan. It works like this…

Lending, Real Estate

Do I Qualify For a Mortgage Loan?

What is your credit score? This is one of the easiest ways for banks to determine if a borrower is eligible for a mortgage loan of any kind. Generally a score over 640, and having your finances in general good shape, is considered good credit and a good lending-risk. How long have you been employed? A solid employment history at…

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