Lending, Real Estate

Check Your Credit Score & Report Before Buying a Home | Credit.com

Your credit score helps determine the rate and conditions you receive on a loan. If your credit score is high, meaning that your credit history indicates that you’ve paid your credit card bills on time, haven’t “maxed out” your credit cards, etc., then lenders believe it’s a fairly good bet that you won’t have difficulty paying off your loan. They…

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Lending, Real Estate

Low mortgage rates are good for buyers and refinance

In a time of meager income growth, low mortgage rates have played an integral role in enhancing affordability and re-inflating home prices. Low rates increase the ability of a given income to afford a higher-priced home. Source: Low mortgage rates are good for buyers and refinance

Lending, Real Estate

Is it time to buy a new home? Interest rates predicted to increase by end of 2015

As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. In a speech at the Providence Chamber of Commerce in Providence, RI, Yellen said that the Fed is seeing widespread economic improvement and expects that improvement to continue. And if the economy improves as expected,…

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Lending, Real Estate Agent

10-Step Guide to Buying a House – Real Estate News & Advice – realtor.com

“1. Are You Ready to Become a Homeowner? Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals. 2. Get a REALTOR® In the maze of forms, financing, inspections, marketing, pricing and negotiating, it makes…

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Lending, Real Estate

Refinancing to End PMI: A Deal or a Dud?

“For many home buyers, private mortgage insurance is a necessary evil. If you don’t have 20% in cash to put down on a home, you’ll often be left with little choice other than PMI. But that doesn’t mean you’re stuck with the payments. If you’ve built up some equity in your home, you may be able to refinance your loan and…

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Lending, Real Estate

Boomerang home buyers are coming back – Money.CNN.com

“Half a million home buyers: Homeowners can recover from foreclosure in as little as three years, but seven years is the “conservative” amount of time it takes to rebuild a credit score, according to RealtyTrac. That means many homeowners who lost their homes in 2007 should be able qualify for a new home loan this year. More than 500,000 people…

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Lending, Real Estate

Down Payments Get Smaller – Real Estate News – realtor.com

“It is getting easier for some buyers to land a house with less money up front. More lenders are lowering down-payment requirements, allowing borrowers to commit 3%—or even less—of a home’s purchase price to get a mortgage. Most had been requiring down payments of 20% or more since the recession began, with a few exceptions. Some lenders also are waiving…

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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

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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