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 Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Applying For a Mortgage? Here's What You Should Avoid Once You Do.While its exciting to start thinking about moving in and decorating after you've applied for your mortgage, there are some key things to keep in mind before you close. Here's a list of things you may not realize you need to avoid after applying for your home loan. Dont Deposit Large Sums of Cash Lenders need to source your money, and cash isnt easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Dont Make Any Large Purchases Its not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you ...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Our experts say borrowers stand to save from around $1,500 to $3000 by comparison shopping and gathering multiple quotes from lenders. By Melissa Dittmann Tracey   WASHINGTON – As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quotes from lenders—up to $3,000, Freddie Mac research shows. Every dollar may help as housing affordability reaches a critical threshold. The typical U.S. household will no longer be able to afford a median-priced home when mortgage rates reach 5.7%, Nadia...
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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, January 4, 2023  Lender Term/Type Interest Rate % Points % *APR Acclaim Capital Mortgage808-383-5931NMLS#304090 15-YR Fixed 5.635 0.000 5.720 30-YR Fixed 6.446 0.000 6.497 5-YR ARM       Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 4.875 1.875 5.335 30-YR Fixed 5.625 1.750 5.894 5-YR ARM 4.625 0.625 4.774 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.000 2.000 5.431 30-YR Fixed 5.875 2.250 6.168 5-YR ARM 4.875 1.750 6.339 Bank of Hawaii877-616-2636 15-YR Fixed 5.000 1.875 5.289 30-YR Fixed 5.750 2.000 5.937 5-YR ARM 4.750 2.250 6.119 Central Pacif...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
No Credit, Bad Credit doesn't matter we purchase the home and you make the payments. Most do not know the financial ways a bank or lender works when a loan is done no matter who what or where most are sold on the open market and you just receive a letter stating where to send your payment. We become the lender and save you all the fees let us show you how.  Financial advice – put 20% down, don’t pay over 30% of income each month – is helpful, but many younger adults hear this: “You can’t afford to buy a home.”   By Kelsey Sheehy NEW YORK – Put 20% down when buying a home. Don’t spend more than 30% of your income on housing costs. Keep childcare expenses below 10% of your annual household income. These money rules of thumb can be useful guardrails, helping you allocate spending and dete...
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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, pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case Shiller Home Price Indices:  Month-to-moth home prices fall in OctoberU.S. home prices fell in October for the fourth consecutive month. Wavering demand for homes was caused by rising mortgage rates and high home prices in many regional markets. The 20-City home price index showed the top three cities with the highest month-to-month home price declines were Miami. Florida with a -1.0 percent decline, Tampa, Florida where home prices declined by -0,8 percent, and Charlotte, North Carolina where home prices dropped by -0.9 percent month-to-month in October.Year-over-year home prices rose by 21 percent in Miami, Florida; year-over-...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you thinking about buying a new home using a mortgage loan? If you've just graduated from college, you're probably wondering how your student loans will impact a mortgage and what your options are. In today's post we'll share three things that you need to know about mortgages if you're still working on paying off your student loan debt. #1: Yes, Your Student Loan Will Affect Your ApplicationYou might as well embrace the fact that your outstanding student loan is going to cause some questions to be asked during the mortgage application process. Mortgage lenders have a responsibility to understand the risk involved in lending a significant amount of money to you. And because of this, any mortgage provider is likely to dig into your financial background to ensure that you are responsib...
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By George Thoma, Branch Manager / Broker
(Island Lending Hawaii, LLC | Equal Housing Lender | NMLS 312250)
If you're considering getting a reverse mortgage in Hawaii, here are some steps you can take to get started:  Determine if you are eligible: To qualify for a reverse mortgage in Hawaii, you must be at least 62 Years or older, with low to no Mortgage Balance. Whether you live on the island of Oahu, Maui, Kauai, or the Big Island, it is vital to understand the eligibility requirements for a reverse mortgage in Hawaii.  If you own a Condo or Condominiumized Property in Hawaii:  Your Primary Residence, the Condo or Conddominiumized Property has to be FHA-approved to be eligible for a Reverse Mortgage. Condotels are Traditionally not Allowed. ( Ask your Mortgage Professional )  Get a reverse mortgage quote from a qualified mortgage broker: It is essential to compare reverse mortgage quotes f...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Mortgage Rates Are Dropping. What Does That Mean for You?Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they're dropping, and that has to do with everything happening in the economy.Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying:Mortgage rates dropped even further this week as two main factors affecting today’s mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result, according to Freddie Mac, the 30-year fixed mortgage rate fell to 6.31% from 6.33% the previous week.So, what does that mean for your homeow...
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By Marcus Anderson, Mortgage Broker & Agent | Westside Los Angeles, CA
(MortgageBrokerSantaMonica.com)
Mortgage Broker Beverly Hills | When should I speak to a Mortgage Broker?Mortgage Broker Beverly Hills – Buying a home is one of the biggest investments you’ll ever make. It’s important to have the right guidance and advice when making such an important decision. A mortgage broker can provide invaluable guidance in the home-buying process and help you find the best mortgage for your situation. In this article, we’ll look at when you should speak to a mortgage broker, the benefits of working with one, and how to find a reputable broker. Keep reading to learn more about how to make the best mortgage decision for your needs.When to Speak to a Mortgage BrokerWhen You Have Decided to Buy a HomeIf you have decided to buy a home, then it’s a good idea to speak to a mortgage broker. A mortgage ...
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By Dick Betts, REALTOR® The Villages, Florida
(TOUCHSTONE REAL ESTATE)
Not sure we can look at the future of mortgage rates but we can look at the history of mortgage rates.  The past six weeks has seen mortgage rates declining significantly after hitting a high of 7.08% last month.  The 30-year fixed rate mortgage is now around 6% according to Freddie Mac. Home ownership has become more affordable by 10% with the decline of mortgage rates.  Timing looks good for the first of the year to bring more buyers into the market and I am already seeing signs as since Christmas I have seen an uptick in people contacting me to start looking and maybe buying the first quarter.  My website has been very busy this week and information and map requests have been very strong.  On the down side a sudden jump in inflation could knock us back down to activity levels we saw ...
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By Chris Goulart, California Hard Money Loans & Solutions
(All California Lending)
As interest rates continue to rise from historic lows, financing is becoming more and more expensive.  Many commercial property owners are looking for long term security in their loans and rates.  Some of the 30 year fixed hard money commercial loans on the market today can make a lot of sense - even to those who can qualify for bank funding.Generally speaking, bank financing offers lower rates and less expensive funding costs than hard money products.  For commercial loans, however, one big drawback is the term of those lower rates.  Many commercial loans made are fixed for only a fraction of the total loan term.  Perhaps a 5 year fixed term on a 20 or 30 year loan product, with the rate adjustable after that initial fixed term.With the fast pace of rising interest rates, the adjustabl...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios ma...
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By Marcus Anderson, Mortgage Broker & Agent | Westside Los Angeles, CA
(MortgageBrokerSantaMonica.com)
Mortgage Broker Beverly Hills | Why do people get denied mortgages?Mortgage Broker Beverly Hills – Are you looking to purchase a home and wondering why you might be denied a mortgage? Unfortunately, there are several reasons why someone might not qualify for a mortgage. From credit score and debt to employment history and down payment, there are a variety of factors that lenders consider when reviewing mortgage applications.Understanding why people get denied mortgages can help you prepare for the application process and increase your chances of getting approved.Credit ScoreA major factor in the underwriting process is a borrower’s credit score. A low credit score can put you at a disadvantage when it comes to getting a mortgage. Lenders look at credit scores to gauge a borrower’s abili...
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By Marcus Anderson, Mortgage Broker & Agent | Westside Los Angeles, CA
(MortgageBrokerSantaMonica.com)
Mortgage Broker Santa Monica | Will Mortgage Brokers Become ExtinctMortgage Broker Santa Monica – As the world evolves, technology advances and the housing market fluctuates, one of the important questions on the minds of many is: will mortgage brokers become a thing of the past? With the rise of online financing, many people are left wondering if traditional mortgage brokers are still relevant in today’s economy. In this blog, we will explore the current state of mortgage brokers, the impact of technology on their role, and the potential future of the industry. We will look at the pros and cons of both traditional and online mortgage brokers to give a better understanding of the current landscape.Key Takeaways Technology has changed the landscape for mortgage brokers and created both c...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic scheduled economic news included readings on sales of previously-owned homes, housing starts,  and building permits issued. Readings on the Consumer Price Index, which tracks inflation, were also released along with weekly readings on mortgage rates and jobless claims.  Sales of previously-owned homes fall in NovemberThe National Association of Realtors® reported fewer sales of previously-owned homes in November than in October. 4.09 million previously-owned homes were sold year-over-year in November as compared to 4.43 million sales reported in October. This was the tenth consecutive month showing fewer sales of previously-owned homes. Although mortgage rates and home prices have eased recently, it will take additional time for would-be buyers to adjust their budge...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
A Holiday Gift to Home Buyers: Lower Mortgage Rates Over the last four weeks, borrowing costs have posted their largest decline since 2008.If all your buyers want for Christmas is a lower mortgage rate—they may just get it. The 30-year fixed-rate mortgage averaged 6.33% this week, according to Freddie Mac, dropping for the fourth consecutive week after hitting a high of 7.08%. Mortgage rates are falling due to increasing concerns about lackluster economic growth, says Freddie Mac Chief Economist Sam Khater. “Over the last four weeks, mortgage rates have declined three-quarters of a point—the largest decline since 2008,” he says. “While the decline in the rate has been large, homebuyer sentiment remains low, with no major positive reaction in purchase demand to these lower rates.” Mortg...
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By Marcus Anderson, Mortgage Broker & Agent | Westside Los Angeles, CA
(MortgageBrokerSantaMonica.com)
Mortgage Broker Santa Monica | Do you go to a mortgage broker first?Mortgage Broker Santa Monica – Do you go to a mortgage broker first? That’s a great question! In short, the answer is yes. A mortgage broker can be an invaluable asset in the home-buying process. They can provide you with the expertise, guidance, and experience you need to make the right decision when it comes to financing your new home.A mortgage broker is different from a loan officer. While a loan officer works for a specific lender, a mortgage broker is an independent professional who works with multiple lenders to find the best loan for you. Mortgage brokers do not work for a particular lender and are not paid directly by any lender. Instead, they are compensated by a fee or a commission on the loan volume they gen...
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By Marcus Anderson, Mortgage Broker & Agent | Westside Los Angeles, CA
(MortgageBrokerSantaMonica.com)
Mortgage Broker Beverly Hills | How can I get the lowest mortgage interest rate?Mortgage Broker Beverly Hills – Getting the lowest mortgage interest rate is a great way to save money and make sure your mortgage is affordable. Unfortunately, there are a lot of factors that go into getting the best mortgage rate, so it’s important to understand the process before you jump in.First, it’s important to understand what goes into calculating your mortgage interest rate. Your credit score, down payment, loan term, and loan type are all used to determine your interest rate. If your credit score is good, then you’ll likely receive a lower mortgage interest rate.You can also use the size of your down payment to improve your mortgage rate. Putting a larger down payment on your mortgage will lower y...
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By Scott Gleason, CRS, Westfield NJ New Homes Specialist
(Coldwell Banker Realty)
2022 was quite a wild ride for mortgage rates. We started off the year at an average of 3.22% for a 30-year fixed-rate mortgage. By the end of October, rates peaked at 7.08%. After dipping slightly for a couple of weeks, they hit 7.08% again in early November. But since then, rates began to decline. As of the writing of this post, Freddie Mac puts the average at 6.27%. The higher your interest rate, the higher your mortgage payment. What should you do to get the best mortgage rate for your next home purchase? Follow these simple steps.How to Get The Best Mortgage RateWhip That Credit Into ShapeHigher credit scores translate into lower interest rates. Start by visiting AnnualCreditReport.com for a free copy of your credit report. Look for any errors. Each reporting agency (Equifax, Trans...
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By Mike & Cindy Jones, Real Estate - (904) 874-0422 - Jacksonville, Fl
(Berkshire Hathaway HomeServices Florida Network Realty)
Read the article here - Wells Fargo recently hit with 3.7 Billion in fines for charging illegal fees and interest on mortgages and auto loans. Be a prudent consumer and Do your research...especially when it comes to mortgages.Mike & Cindy Jones< Jacksonville Real Estate Agents904 874-0422MikeAndCindyJones.comBerkshire Hathaway HomeServicesFlorida Network Realty
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