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 Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Here we go AGAIN, Mortgage Rates Decline for the 6th Consecutive Week!Should you buy a home now or try and time the market and buy later if mortgage rates come down further? This is always a difficult decision especially when life is drawing you to buy a home. (Image: Freddie Mac Mortgage Rate Weekly Survey)There may be a window of opportunity to own a home in the Phoenix Arizona metro now with home prices having declined somewhat while mortgage rates are inching down for the 6th consecutive week to 7.03% (good credit). Remember, you can marry the home of your dreams but only have to date the mortgage rate. One can date the rate by refinancing later when rates decrease. Over the past 100+ years home prices have gone up and down through the decades but the overall trend is up....WAY UP! ...
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By Laura Sellers, www.AuburnOpelikaALRealEstate.com
(Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com)
 Experience the Magic of Christmas in Opelika, AL: Victorian Front Porch Christmas Tour (December 8-12, 2023) Step back in time and embrace the charm of the holiday season with the Victorian Front Porch Christmas Tour in Opelika, Alabama! From December 8th to 12th, 2023, the historic streets of Opelika will come alive with the spirit of Christmas as beautifully adorned Victorian front porches enchant visitors with their festive decorations and twinkling lights. The tour began in 1993 with just a few homes participating but has grown to include 60 homes on North 8th and 9th street.#OpelikaChristmasTour #VictorianHolidayMagic #OpelikaTraditions #HistoricChristmas #OpelikaFrontPorchTour #SouthernLivingChristmas #OpelikaFestiveFun #ChristmasInAlabama #OpelikaEvents #VictorianCharm #OpelikaH...
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By Cynthia Grimes 443-506-0359, "With You Every Step Home!"
(Coldwell Banker Realty - Office 410-876-1666)
In a world where financial constraints are often a reality, the idea of being rich is a captivating fantasy. If I were to find myself in a position of substantial wealth, my priorities would extend beyond personal indulgence. Instead, I would strive to make a meaningful impact on the world around me.        1.      Philanthropy and Social Causes:The first avenue for my wealth would undoubtedly be philanthropy. I envision supporting various charitable causes, focusing on education, healthcare, and poverty alleviation. By investing in programs that empower individuals and communities, I hope to contribute to a world where everyone has an opportunity to thrive.        2.      Environmental Stewardship:Recognizing the urgent need for environmental conservation, a significant portion of my w...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Good news in that "conforming loan" limits for borrowers of single family homes will increase $40,350 to $766,550 in 2024 for many metro areas in the US including Phoenix and Maricopa County. The Federal Housing Finance Agency (FHFA), states that "Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value.  Loans above this amount are known as jumbo loans."FOR IMMEDIATE RELEASE 11/28/2023 ​​​​​​​​​​​​​​Washington, D.C. – "The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit pr...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
The first week of December's largest reports are the GDP estimates, which will be the second estimations of the year prior to the final release. The final GDP reports will be after the new year and are the strongest indicator for the economic state of the country. With the Federal Reserve aiming for a soft landing for the economy, it is important for the GDP and inflation statistics to be in parity with each other. The last but also very important releases for the end of the year are the Personal Income and Spending data.GDP Estimates (First Release)The numbers: The U.S. economy grew at an assuring 5.2% annual pace in the third quarter, faster than previously reported, but the surprisingly strong gain appears to have been a one-off occurrence.Gross domestic product, the official scoreca...
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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, 2023  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.625 2.000 6.120 30-YR Fixed 6.375 1.625 6.647 5-YR ARM 6.000 1.625 6.264 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.625 2.125 6.090 30-YR Fixed 6.250 2.000 6.528 5-YR ARM 6.000 1.625 7.399 Bank of Hawaii877-616-2636 15-YR Fixed 6.250 0.875 6.389 30-YR Fixed 6.375 2.000 6.569 5-YR ARM 6.250 0.875 7.387 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 5.875 2.000 6.335 30-YR Fixed 6.375 2.000 6.661 5-YR ARM 7.500 0.000 8.056 Fin...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Should you buy a home now or try and time the market and buy later if mortgage rates come down further? This is always a difficult decision especially when life is drawing you to buy a home. (Image: Freddie Mac Mortgage Rate Weekly Survey)There may be a window of opportunity to own a home in the Phoenix Arizona metro now with home prices having declined somewhat while mortgage rates are inching down for the 5th consecutive week to 7.22% (good credit). Remember, you can marry the home of your dreams but only have to date the mortgage rate. One can date the rate by refinancing later when rates decrease. Over the past 100+ years home prices have gone up and down through the decades but the overall trend is up....WAY UP! As your parents likely did, YOUR home will increase in value as you al...
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By Dick Betts, REALTOR® The Villages, Florida
(TOUCHSTONE REAL ESTATE)
I am not an economist, I don’t have a crystal ball but yet I am asked regularly about the market and interest rates.  My experience comes from buying and financing my first home about 45 years ago and being in the real estate industry for 23 years.  I do know when interest rates drop home prices go up the key is to hit that sweet spot and try to figure out when that is.The National Association of Realtors has a team of economist with some having the word doctor before their name that do research and share opinions and this came out a few days ago;“It seems clear mortgage interest rates have hit a peak in late October and are now headed south. Mortgage interest rates dropped again to 7.22% from 7.29% last week. That drop from the recent October 26 peak of 7.79% translates into a $125-a-m...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you in the market for a new home? If you plan on using mortgage financing to buy your next home you've likely heard the phrase "loan-to-value" or the acronym "LTV" before. Let's take a quick look at the loan-to-value ratio including why it's important, how to calculate it, and how it can affect your mortgage.What is the Loan-to-Value or LTV Ratio?In short, the LTV ratio is a number that compares how much money you owe against your home with its resale value in the marketplace. A low LTV ratio indicates that you have far more equity in your home than you owe in mortgage payments; conversely, a high LTV ratio indicates that you owe almost as much as your home is worth.Calculating your LTV ratio is easy. Simply divide the amount that you have (or will have) remaining in your mortgage b...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
It looks like mortgage rates in Pensacola are currently experiencing a downward trend after a period of notable increases. Click Here Mortgage Info and FREE Credit Report The recent drop in rates to 7.22% for a 30-year fixed-rate mortgage might bring some encouragement to potential homebuyers, offering a bit of relief in what has been a challenging housing market.Higher rates can significantly impact monthly costs for borrowers, limiting their purchasing power in an already costly market. However, this recent rate decrease seems to have sparked more interest from buyers, as evidenced by the rise in home loan applications.It's important to note that while the current rates are lower compared to recent highs, they remain considerably higher than those from just a couple of years ago, arou...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Have you finally found your dream home after months of searching, and then you are told that the seller has received other offers? No buyer wants to find themselves in a bidding war against another buyer as it is a stressful situation. Being unprepared and not having your finances in order will make it even more stressful. Here are a few quick ways if you're looking to speed up your mortgage approval process, here's a checklist to help you prepare: Review your credit report: Maintain a good credit score by paying bills on time, reducing existing debt, and avoiding new credit inquiries. Check your credit report for errors and make sure your credit score is in good shape. A good credit score can positively impact the approval and interest rate you receive. Gather financial documents: Gath...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
In the world of personal finance and homeownership, there's a common debate: should you pay off your mortgage early, or is it better to take a more relaxed approach to your home loan? While the idea of being mortgage-free is undoubtedly appealing, there are compelling reasons why you might not need to rush to pay off your mortgage ahead of schedule.Tax Benefits: Mortgage interest payments are tax deductions that can help reduce your taxable income, potentially lowering your overall tax bill. Before you rush to pay off your mortgage, consult with a tax professional to determine how this deduction can work to your advantage.Liquidity and Financial Flexibility: Tying up your funds in your home's equity by paying off your mortgage early can lead to a lack of liquidity. Having money readily ...
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By Hugh Grant, I help investors and consumers with real estate
(RealMax Realty)
As the financial industry continues to evolve and adapt to an ever-changing landscape, it also faces new challenges and risks. Financial organizations are constantly at risk of falling victim to cyber attacks, fraud, regulatory non-compliance, and internal malfeasance. This can lead to severe consequences such as loss of customer trust, financial losses, legal repercussions, and damage to reputation.The Nature of BusinessOne of the main reasons why financial organizations are at risk is due to the nature of their business. Financial institutions deal with large amounts of sensitive and confidential data, making them prime targets for cyber criminals. This data includes personal and financial information of customers, as well as critical business information such as trade secrets and int...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
Navigating the Challenges of DSCR in Commercial Real Estate Refinancing The Rising Issue of DSCR in Commercial Real Estate In recent years, the commercial real estate sector has faced significant challenges, particularly concerning the Debt Service Coverage Ratio (DSCR). DSCR is a crucial financial metric used by lenders to assess the ability of a property to generate enough income to cover its debt obligations. A DSCR of less than 1.2 is often considered a warning sign, indicating that a property might not generate sufficient income to service its debt. The National Picture: A Cause for Concern The national landscape presents a concerning picture. Currently, there are 33,495 properties across the country, totaling 1.5 billion square feet of space, struggling with DSCRs below 1.2. This...
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By Tim Bray, B.S. Real Estate (UConn)
(Seaport Real Estate Services)
Navigating the Challenges of DSCR in Commercial Real Estate RefinancingThe Rising Issue of DSCR in Commercial Real EstateIn recent years, the commercial real estate sector has faced significant challenges, particularly concerning the Debt Service Coverage Ratio (DSCR). DSCR is a crucial financial metric used by lenders to assess the ability of a property to generate enough income to cover its debt obligations. A DSCR of less than 1.2 is often considered a warning sign, indicating that a property might not generate sufficient income to service its debt.The National Picture: A Cause for ConcernThe national landscape presents a concerning picture. Currently, there are 33,495 properties across the country, totaling 1.5 billion square feet of space, struggling with DSCRs below 1.2. This situ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
There will be a very light week with the Holiday season approaching. The only notable reports to have come out for the week are the U.S. economic leading indicators, with nothing scheduled around Thanksgiving weekend. The median forecast for the leading indicators has shown that with the rest of the CPI and PPI data among other economic statistics, the economy does seem to be heading towards a soft landing as the Federal Reserve had initially targeted. The most notable changes are lending partners cutting rates with the potential for shifting economic policies and rate cuts in the future. U.S. Leading Economic IndicatorsThe numbers: The leading economic index declined 0.8% in October and fell for the 19th month in a row, but the U.S. economy doesn’t appear any closer to a recession than...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
With fixed-rate mortgages reaching 20-year highs, Pensacola Area lenders are seeing an emergence in new financing techniques such as 3/2/1 buydowns.The new approach allows buyers to reduce their interest rate payments by 3% during the first year, 2% in the second year, and 1% in the third year, with regular interest payments resuming after that.  “That’s an exciting strategy that is pretty popular right now,” said Charles Stallions. “We anticipate that rates will come down over the next couple of years. Obviously, there’s not a guarantee … but if [buyers] can kind of make it through those first couple of years, then the seller doesn’t have to reduce the value of their house, and they give it in the form of a credit to the buyer.” They can refinance when interest rates come down. The nat...
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Continued Loose Leaf Collection in Gaithersburg Fall loose leaf collection for single family and townhouse owners continues through Friday, December 29, weather permitting. Collection is made weekly, however there may be a one to two-day delay during busy periods. Rake your leaves to the street curb by 7 a.m. on your regular recycling day. Note that leaves placed in alleys or mews will not be collected. Learn more here.This is a City of Gaithersburg, Maryland announcement.The trees lining the streets in our community create a lot of fallen leaves in the fall. We are thankful fot the city removal services. Autumn Display, Kentlands Photowalk, Gaithersburg, Maryland USA IMG 6890Canon PowerShot G11 CameraPhotograph by Roy KelleyRoy and Dolores Kelley Photographs
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Getting a mortgage in Pensacola, like elsewhere, involves several key steps. Here's a breakdown of the process: 1. Financial Assessment: Credit Check: Lenders review your credit score to evaluate your creditworthiness. Income Verification: Provide proof of income and employment stability. 2. Preparation: Research Lenders: Explore different lenders or mortgage brokers in Pensacola. Determine Budget: Calculate how much you can afford as a down payment and monthly payments. 3. Mortgage Pre-Approval: Application: Fill out a mortgage application with your chosen lender. Documentation: Submit financial documents (pay stubs, tax returns, bank statements, etc.). Pre-Approval: Once approved, you'll receive a conditional commitment in writing for a specific loan amount. 4. House Hunting: Find a ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
With the release of the CPI and PPI data, much of the broader market has been anticipating the potential cooling of inflation numbers month-to-month and those expectations have been met. There’s a consistent trend of inflation slowing down which brings a greater potential for the end of any rate hikes from the Federal Reserve, signaling a soft-landing for the economy which has been touted by Jerome Powell. With a soft landing, it does also signal a strong potential for the Federal Reserve to begin lowering rates in the coming future. Consumer Price Index Despite the report beating inflation expectations and leading to optimistic outcomes for a future soft-landing for the economy, there is still plenty to be cautious about with the reports also signaling the largest reduction was due to ...
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