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 Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
Fees can eat away at your money if you don’t keep on top of your banks enforced regulations. U.S. consumers paid $15 billion in overdraft fees in 2016, according to the Consumer Financial Protection Bureau. Here are a few bank fees you can look out for:Overdraft FeesThese are often charged in response to bounced checks or a debit charge when the customer doesn’t have enough money in their account to cover a transaction. The average amount consumers overdraft by is about $24, according to the CFPB. But most banks charge about $34 in fees for each overdraft.To avoid these fees, don’t sign an opt-in form from your bank, which allows it to cover a transaction that you don’t have enough money for in your account. The CFPB is trying to change the consent forms for overdraft service to make th...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
I saw this article on CNBC and it made me think. Here's the title: Demand for riskier home loans is high as interest rates soar.  At first glance, a title like that sends little chills up my spine. 2008-2009 anyone? Reading the article, I found that it was filled with mortgage market jargon: "Total mortgage application volume dropped 2% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index, a consequence of surging rates. The average rate for 5/1 ARMs, which has a fixed rate for the first five years, increased slightly, but was still lower, at 5.56%. The ARM share of applications was just under 12%. When rates were lower at the start of this year, that share was barely 3%, where it had been for several years. ARMs can be fi...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
 At IPX1031, we pride ourselves on being the industry leader in 1031 expertise, service, and security. We aim to be your complete information resource and look forward to helping you and/or your clients maximize qualifying investments through a 1031 Exchange. For more information about 1031 Exchanges, our company, our complimentary 1031 Exchange webinars, or to initiate an exchange, visit our website at www.ipx1031.com or email or call today. Bottom Line Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Work with a real estate professional to understand your budget and how you can be prepared to buy your home before rates climb higher.  My Home own search! How to get a Mortgage and FREE Cr...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
When a 1031 Exchange is opened in the latter part of the year, a seasonal benefit worth mentioning is “tax-straddling.” If that exchange is successfully completed, those taxpayers defer taxes to receive the benefits of the 1031 Exchange. However, if that exchange fails and is not completed, taxes will be due. The benefit for those taxpayers is that they may still qualify for a “mini-tax deferral” (via tax straddling) where they can report and pay their taxes on their 2023 tax returns instead of immediately on their 2022 tax returns. Click here to read the technical explanation of how tax straddling works. Bottom Line Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Work with a real estate...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Many people know what a credit score is, and some know their personal score. But it has such a large impact on lifetime finances that it’s important to know more.   courtneyk / getty images NOVEMBER 11, 2022 Share this article: FacebookTwitterLinkedInPrintShare Credit Scores: How Are They Calculated? By Adriana Morga NEW YORK (AP) – You know credit scores exist. You might even know what yours is. But do you know how it’s calculated and why it’s important? Your credit score affects whether you can get a credit card, rent an apartment, buy a house, start a business, or even get a cell phone contract. A low credit score can limit your choice of loans or determine if you can get one at all – and if you can, it might have a high-interest rate. “There’s a huge cost to having a low credit sco...
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By Rocky Dickerson, Superior Service!
(Realty One Group)
Refinancing a mortgage. Yes, some folks are considering that after the last year. When rates are low, it can seem like the ideal time to refinance your mortgage. After all, who doesn’t like a lower interest rate? There are lots of good reasons to refinance your mortgage, such as adding on or trying to streamline your expenses, but what’s really involved in the process? Refinancing a Mortgage: The BasicsPerhaps the best news any homeowner can get when it comes to a refi is that it’s not likely to be nearly as difficult as getting the original loan was. Breathe a big sigh of relief if you need to; this is the time for it.Many homeowners look to refinance for a few specific reasons. These may include reducing mortgage interest, dropping mortgage insurance, or cashing out for a remodeling e...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
VA Loans Can Help Veterans Achieve Their Dream of HomeownershipFor over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, its important to understand this program and its benefits.Here are some things you should know about VA loans before you start the homebuying process.What Are VA Loans?VA home loans provide a pathway to homeownership for those who have served our nation. The U.S. Department of Veterans Affairs describes the program like this:VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, ret...
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By Patty Clark, Helping Families Move with Care
(Morningside Homes, LLC 720-231-5200)
  Social Security was established, on August 14, 1935, to take care of the country's elderly in their retirement years.  Today, about 65 million or 1/6 of Americans collect benefits and the average monthly retirement amount received in January 2022 was $1,614 per month or about $19,370 per year. This annual Social Security benefits exceed the 2022 Federal poverty level of $13,590 for individuals and $18, 310 for a family of two but from a practical level, it is nowhere near enough to be comfortable in your "Golden Years." Every adult in the work force, can go to SSA.gov to find out what to expect to receive based on their planned retirement age.  Since it probably won't be the amount you need to retire comfortably, at least you'll know how short you'll be so that you can devise an inves...
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By Leo Namiot - LeoLends.com, More than just great rates
(Canopy Mortgage - Leo Namiot)
Condotel Financing in Florida as an investment property - Short Term Rental Property LoanAre you looking to purchase a Condotel as an investment?Here are some of the Condotel Financing Program features;No minimum sq ft.Down to a 575 FICO ScoreMax 70% LTV.Full Doc or Bank Statement Contact me for more details and see if you qualify www.LeoLends.comGet more details: Get More Details On Condotel Loans This is not a commitment to lend, subject to underwriting approval, credit approvals, property and guidelines. 
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By Leo Namiot - LeoLends.com, More than just great rates
(Canopy Mortgage - Leo Namiot)
Thinking of investing in short term or long term rentals.No EmploymentNo Tax ReturnsNo W-2'sNo DTI RatioUp to 80% LTVCredit Scores 575 MinimumGet details @ Investment Loan Information Contact me today for more information and see if you qualify! 904-712-1500Visit LeoLends.com  Leo Namiot This is not a commitment to lend, subject to underwriting approval, property type and qualified credit.
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Joe, Can you get me some business cards and will forward to my BK attorney. She said she is blown away that you were able to refinance me out of my Chapter 13. Actually, I can’t get over it either. You can’t imagine how much of a difference this refinance will make in our lives. Making nearly $2,000 monthly to the trustee was killing us, especially the cost of everything these day. My attorney told me she was not aware that someone can refinance out of a chapter 13, amazing!! I put a blurb on my Facebook page, as many of our friends know about the financial challenges over the past few years. Not sure if you get any more business out of it as few people want to discuss this kind of issue. You are truly making such a difference in our lives!!”  You would think all attorneys working in ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s scheduled economic news included readings on monthly and year-over-year inflation and the University of Michigan’s preliminary reading on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Consumer Price Index: Inflation Shows Signs of SlowingGovernment readings on October inflation showed signs of stabilizing and even slowing. The Consumer Price Index for October showed month-to-month inflationary growth of 0.40 percent as compared to the expected reading of 0.60 percent and September’s reading of 0.40 percent growth. Year-over-year inflation rose by 7.70 percent as compared to the expected reading of 7.90 percent and September’s reading of 8.20 percent.Month-to-month core inflation, which excludes volatile food and fuel sectors, ro...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
What's Ahead for Mortgage Rates and Home Prices?Now that the end of 2022 is within sight, you may be wondering what's going to happen in the housing market next year and what that may mean if you're thinking about buying a home. Here's a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.Mortgage Rates Will Continue To Respond to InflationThere's no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we've seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, its the first time they've risen this high in over 20 years (see graph below):In their latest quarterly report, Freddie Mac explains just how fas...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
A Look Into the Markets   This week, interest rates moved a bit sideways after Election Day and only added to the uncertainty as ballots continue to be counted. Let's discuss what happened and look into the week ahead. "Pull my shirt off and pray - we're coming up on re-election day" - Election Day by Arcadia (Duran Duran) Consumed By Uncertainty It has been nearly a year since the Federal Reserve flip-flopped on the idea that high inflation was "transitory" and the need for that word to be retired. Since that time, we have experienced unprecedented uncertainty in the financial markets, with home loan rates moving from 3% to 7%...the fastest rate of change in our history. A lot of the uncertainty, and thus volatility, is surrounded by where inflation and the overall economy is and how ...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
A Look Into the Markets   This week, interest rates moved a bit sideways after Election Day and only added to the uncertainty as ballots continue to be counted. Let's discuss what happened and look into the week ahead. "Pull my shirt off and pray - we're coming up on re-election day" - Election Day by Arcadia (Duran Duran) Consumed By Uncertainty It has been nearly a year since the Federal Reserve flip-flopped on the idea that high inflation was "transitory" and the need for that word to be retired. Since that time, we have experienced unprecedented uncertainty in the financial markets, with home loan rates moving from 3% to 7%...the fastest rate of change in our history. A lot of the uncertainty, and thus volatility, is surrounded by where inflation and the overall economy is and how f...
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By Dick Betts, REALTOR® The Villages, Florida
(TOUCHSTONE REAL ESTATE)
Most of my clients are out of state and come to The Villages, Florida looking to buy without any relationship with a lender.  When the time comes, they need a lender I have a great one.  Yesterday I was working with a couple showing homes and we get to the last one which was vacant and had some furniture it was time to talk.  Before we spent the day together they shared they would be putting 50% down and selling their home up north after purchasing here.We reviewed the homes they have seen and narrowed it down to three and I asked about what was their plans for the 50% they needed to finance, they explained they had spoken with a lender but wanted to know if I had any suggestions, you bet I do. They asked what is the interest rate on both conventional and ARM, I hit my speed dial lender...
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By Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker
(Harry Norman, REALTORS® )
Thank you Jane & Jeff Daley, PhD for your original blog.   VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC] Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.    Jane Daley, BAJeff Daley, PhDLuxury Valley Homes - West USAScottsdale Real Estate Arizona Winfield Real Estate ArizonaOur Luxury Valley Home Team  Jeff Daley Military Service  📞  480-595-6412 📨  Email Us 
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
U.S. military veterans have opportunities to enjoy some richly-deserved benefits in other aspects of their lives, including some special options for financing their homes. VA loans may give active military personnel, retired veterans, and sometimes surviving family members of veterans the ability to purchase homes that might not prove available to them through more conventional mortgage loans. But the mere fact that you can do a thing doesn't necessarily mean that you should. In some circumstances, military home seekers may find other types of loan options more amenable to their specific needs.If you've decided to pursue a mortgage loan during or following your military career, you may want to examine these considerations before leaping into a VA loan application.Loan Qualifications and...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC] Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.
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By Richard Woodward NMLS#217454, Service Beyond Expectations! Your Texas Lender
(Nexa Mortgage, NMLS #1660690)
The best way for divorcing couples to deal with their marital home is to “buyout” the interest of the other. Other options include selling the home, or continuing to co-own the home. The parent with custody often buys out the other parent to ensure that the children are able to stay in the home. This has obvious advantages: It provides stability and continuity for the children, and you don’t have to sell if conditions are bad.Each party is responsible for their own risk in any buyout. Both the retaining spouse and the exiting spouse may lose future appreciation. However, the remaining spouse could feel that the value was too high in the event that the property falls in value later. The remaining spouse may also find it difficult to finance a buyout.The buyout could be done over time wit...
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