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 Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When it comes to applying for a mortgage, lenders take various factors into account to determine your eligibility. One crucial aspect they consider is your employment history. Your employment history provides lenders with valuable insights into your financial stability, income consistency, and ability to repay the loan.Lenders evaluate your income consistency to ensure that you have a reliable source of funds to cover your mortgage payments. They typically request pay stubs, W-2 forms, and tax returns to verify your income. If you have been in the same job or industry for a considerable period and have a consistent or increasing income, it strengthens your mortgage application. However, if you recently started a new job or have irregular income due to freelancing or self-employment, it ...
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By Michael Sikorski MBA CRB GRI CRS, Experience And Professionalism You Can Count On
(RealtyOne Southwest Florida)
Probate is a critical aspect of estate planning that individuals should be aware of to ensure the smooth transfer of assets after their demise. When someone passes away, their assets go through a legal process known as probate, where a court validates the deceased's will, settles outstanding debts, and distributes the remaining assets to beneficiaries. However, not all assets are subject to probate. It is essential to understand which assets fall into the category of "probate assets" to effectively plan one's estate. Probate assets refer to those assets that are subject to probate proceedings. These assets include real estate properties, bank accounts, investments, securities, and personal belongings. Identifying probate assets is crucial because they may require time-consuming court pr...
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By Teri Isner, GRI, CRS, CIPS
(Keller Williams Realty at the Lakes)
When faced with the high cost of their child’s college tuition or home renovation, many homeowners use the equity in their property to finance it. How does that happen? There are two ways: a home equity line of credit and a home equity loan. Take a look at the differences between the two before signing on the dotted line:  Home Equity Line of Credit (HELOC)  HELOCs are a second mortgage on the home, but instead of a lump sum, the homeowner typically has a five-to-ten-year “draw” period where they have access to the amount of the credit.  During the draw period, some lenders allow interest-only payments on the amount, while some require principle-plus-interest payments. Either way, pay more than the minimum so the principal can be paid off before the repayment period.  Once the draw peri...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
Find out what $250K buys you across the nation.Whether you’re simply browsing or looking to relocate, we’ve scoped out a home for sale for $250,000 in 25 major cities across the country. Revealing just how much house you can get for your money, these homes range from a 500-square-feet coop in New York City’s East Harlem neighborhood to a 3,052-square-feet single-family home in El Paso’s Northwest neighborhood. For more information on what a $250,000 home looks visit the Scoop Blog
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s scheduled economic reporting included readings on construction spending, June’s FOMC meeting minutes, and reports on jobs and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released. Construction Spending Increased in MayThe Commerce Department reported spending for construction rose to 0.90 percent in May as compared to a month-to-month increase of 0.40 percent posted in April. The year-over-year reading showed $1.93 trillion in construction spending in May. April’s data was revised downward from the original reading of 1.20 percent growth to 0.40 percent growth in construction spending.Readings for construction spending include all phases of government and private construction projects. When construction spending increases. I...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Today in our blog series "The ABC's of Real Estate," we will be delving into an alternative route to home ownership that you may not be familiar with: Seller Financing.Seller financing, also known as owner financing, is when the seller of a property provides a loan to the buyer to cover part or all of the sale price, less the down payment. This is an alternative to traditional financing through a bank or other financial institution. So, how does this work, and what are the advantages and disadvantages for both buyers and sellers?For BuyersAccess to Financing: Seller financing can be an attractive option for buyers who are unable to secure a mortgage loan from traditional sources due to credit issues or irregular income.Faster Closing Process: Since you're not dealing with a traditional ...
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By Michael Sikorski MBA CRB GRI CRS, Experience And Professionalism You Can Count On
(RealtyOne Southwest Florida)
Real Estate Mortgages: Tips for First-Time HomebuyersByMichael Sikorski MBA CRB GRI CRSFlorida Licensed Real Estate Broker Buying a home for the first time can be an exciting yet daunting experience, and taking out a mortgage loan is one of the most important steps of the process. Real estate mortgages are complex, but with the right guidance, first-time homebuyers can make informed decisions about how to finance their dream homes. In this blog post, we'll provide tips on how to find the right mortgage loan for your real estate purchase.                               Understanding Mortgage LoansFor most people, buying a home is the biggest purchase they will make in their lifetime. While it's exciting to shop for homes for sale and envision yourself living in your dream home, the proces...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Mortgage 101 it all starts here we do the research for you whether a VA, FHA, Conventional, or non-traditional. We can help take the challenges out of the equation.  How to get a Mortgage and FREE Credit Report    For many consumers, even those who otherwise consider themselves financially savvy, buying a home is one of the most stressful and difficult processes there is.   Deciding to buy a home is an amazing, exciting milestone. The actual mortgage application process that follows, on the other hand, is not. Buying a home is one of the most expensive decisions you’ll ever make, and that can be overwhelming and stressful.   We can help you prepare yourself to understand the lingo associated with different steps (escrow, mortgages, and more), and feel confident on every stage of your h...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Listen Up! The U.S. Federal Reserve just gave stretched-thin homebuyers a rare break. (Photo: Robin Higgins, Pixabay)Per Clare Trapasso, Realtor.com 6/14/23, "The Fed held interest rates steady on Wednesday, declining to jack them up higher this month in its fight to tame inflation. That’s expected to nudge mortgage interest rates down a little by year’s end, potentially saving buyers some money. (While mortgage rates are separate from the Fed’s rates, they often move in the same direction.)“Mortgage rates have likely peaked,” says Realtor.com® Chief Economist Danielle Hale. “But we’re not going to see a sudden or sharp decline. It’s going to be gradual.”Mortgage Rates to Drop?Rates may drop this year (Pixabay)By year’s end, mortgage rates nationally could drop to the low 6% range as lo...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
The United States' mortgage debt totaled more than 15.5 trillion in the first quarter of 2019(Opens Overlay), making it the most substantial debt for American households. Conventional wisdom tells us mortgages are good debt because homes typically appreciate in value, but that doesn't mean you should get a mortgage without careful research. Here are things to know before buying a house.1. Mortgage prequalification and mortgage preapproval aren't the same thingMortgage prequalification and mortgage preapproval are steps most people take before making an offer on a house. However, they aren't the same thing.Being prequalified or conditionally approved for a mortgage is the best way to know how much you can borrow. A prequalification gives you an estimate of how much you can borrow based o...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
  Setting SMART Goals to Help You Purchase a Home When you decide to purchase a home, your first thought is probably about how you'll afford it. Between down payments and closing costs, the costs of a new home may feel daunting. You can plan for this purchase by setting SMART goals. SMART is an acronym that stands for specific, measurable, achievable, relevant, and timely. Here's how you can use SMART goals to purchase a new home. Specific. Your overall goal is to purchase a home, but you can set smaller goals to make the process feel more attainable. Be specific when setting your sub-goals. For example, you may have a goal of saving $12,000 for a down payment within the next year. Measurable. Assign a time frame, dollar amount, or other measurable benchmark to each goal so you can tra...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Looking for an Owner Carry Home For Sale?Here today are Paradise Valley homes for sale with Seller May Carry or Owner Financing next to Scottsdale Arizona and UPDATED DAILY on the MLS. Are you ready to move to Paradise Valley the most expensive place to live in Arizona? When buying a home one will need a jumbo loan if not buying with cash. However there are usually some Owner May Finance homes available. (Photo: Paradise Valley from Town website)Paradise Valley Arizona Estates with Owner Financing or Seller Carry Financing AvailableSee Paradise Valley homes for sale with Seller May Carry or Owner Financing on the MLS on FULL PAGE view and obtain your own FREE MLS SEARCH PORTAL in Arizona, creating your own filters, the most powerful home search tool available.Owner Carry or Seller May C...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
Some homeowners are eager to get out of their mortgage early, with reasons ranging from eliminating the psychological pressure of debt to slashing interest payments. For retirees, especially, paying off a home loan early can help increase cash flow.Whatever your motivation, paying down your mortgage ahead of time reduces the amount of interest you’ll pay on the loan. Here are some early payoff strategies to help you achieve that goal.Can you pay off your mortgage early?In most cases, you can pay your mortgage off early without penalty — but there are a few things to keep in mind before you do: Check for a prepayment penalty: Reach out to your loan servicer to find out if your mortgage has a prepayment penalty. Most mortgages don’t impose this fee, but if yours does, you’ll have to pay i...
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By Kevin Vitali, Helping Massachusetts Home Buyers and Home Sellers
(EXIT Realty Beatrice Associates)
One area where homeowners can potentially reduce their monthly expenses is by terminating private mortgage insurance (PMI). In this article, I will provide a comprehensive guide on how to terminate private mortgage insurance, also known as PMI, and help you save money on your mortgage payments.Understanding Private Mortgage Insurance (PMI)Before we delve into the steps to terminate private mortgage insurance, it's essential to understand what PMI is and why it exists. When you purchase a home with a down payment of less than 20% of the property's value, lenders typically require you to obtain private mortgage insurance. PMI protects the lender in case the borrower defaults on the loan.While PMI benefits lenders, it adds an additional cost to your monthly mortgage payments. However, once...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Mortgage 101 it all starts here we do the research for you whether a VA, FHA, Conventional, or non-traditional. We can help take the challenges out of the equation.  How to get a Mortgage and FREE Credit Report      If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. Click Here to Continue Reading & Share Thinking of buying use our Broker Buying System to do your searches, find out the actual value of each home before you make an offer, property disclosures at your fingertips, home inspection reports, and any work that has or ma...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s scheduled economic news includes readings on inflation, new home sales, pending home sales, and consumer sentiment. Federal Reserve Chair Jerome Powell spoke at a banking conference in Spain. Weekly reports on mortgage rates and jobless claims were also released.New Home Sales Rise as Pending Home Sales FallMay readings for new and pending home sales showed mixed results for May. 763,000 new home sales were expected on a seasonally-adjusted annual basis. Analysts expected a reading of 675,000 sales based on April’s year-over-year reading of 680,000 new home sales. May’s increase in new home sales was the largest since  February 2022.New home sales increased for the third consecutive month. The supply of new homes for sale fell 11.80 percent between April and May to a 7-month...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
Want to buy a house but short on cash to get the deal done? It's a common problem that is keeping countless potential buyers on the sidelines. "Money issues often stand in the way of homeownership," said Bankrate. "A survey by rental service Apartment List found that 80 percent of millennial renters want to buy a home, but most say they can't afford to."A recent story in Apartment Therapy titled "How I Saved $40K in 5 Years for a Down Payment" piqued our interest. Their tip: Get a side hustle and sock all that money away. Those are some impressive saving skills, but if you're saying to yourself, "I don't even want to wait five months, let alone five years", we have some tips that can help. None of them are quite as hardcore as working a second job late into the night (but if you're just...
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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, June 28, 2023  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.250 2.000 5.737 30-YR Fixed 5.875 1.875 6.161 5-YR ARM 5.125 0.875 5.303 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.625 1.875 6.050 30-YR Fixed 6.250 1.875 6.515 5-YR ARM 6.125 1.875 7.402 Bank of Hawaii877-616-2636 15-YR Fixed 6.250 0.625 6.349 30-YR Fixed 6.500 0.750 6.573 5-YR ARM 5.750 2.250 7.098 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 5.625 1.875 6.059 30-YR Fixed 5.875 2.125 6.161 5-YR ARM 6.625 0.000 7.553 Finance...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
When it comes to buying a home, obtaining a mortgage pre-approval is an essential step in the process. A mortgage pre-approval provides you with a clear idea of your budget, helps you narrow down your home search, and makes you a serious contender in the eyes of sellers. However, it’s important to understand how long a pre-approval for a mortgage lasts and the factors that can affect its validity. In this Redfin article, we will delve into the details of mortgage pre-approvals, their typical duration, and some key considerations.What is a mortgage pre-approval?A mortgage pre-approval is a lender’s valuation of your financial situation to determine the amount they are willing to lend you for a home purchase. Unlike a prequalification, which is a preliminary assessment, a pre-approval inv...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Today in our blog series "The ABC's Of Real Estate" we will talk about estate planning and how real estate factors in that planning. When it comes to estate planning, real estate often makes up a significant portion of an individual's net worth. It is essential to understand how to properly factor real estate into your estate plan to protect your assets and ensure a smooth transition for your heirs. Understand the Types of OwnershipHow you own your property impacts how it's transferred upon your death. The three main forms of ownership are: Sole Ownership: The property is owned by one person. Upon their death, the property will be part of their estate and distributed according to their will or, if there is no will, according to state law. Joint Tenancy: The property is owned by two or m...
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