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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 Theresa Hus, The Official Real Estate Agent Directory
(RealEstateAgent.com)
In times of inflation, it’s crucial to come up with a more solid saving plan to counter the decreasing spending power of money we keep experiencing day by day. Generating additional income can be tricky when the interest rates on savings fail to match the inflation rate. Navigating the money market in times of inflation is not always so simple. Still, it is possible to thrive in the current economic conditions too, but adjustments must be made to our strategies. It has never been so important to stay informed about changes. Understanding interest rates and investment opportunities can help you decide which option is best for your short-term goals and make decisions that will have a return on the investment.   This article will uncover effective strategies for optimizing your savings and...
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By Keith Dean, Fast Cash Offers
(Digital Bullet)
This article will explore the benefits of passive income, why you should use a passive income investment calculator, and how it can help you achieve your financial goals. Are you looking to secure your financial future and create a steady stream of income that doesn't require constant effort? Passive income may be the solution for you. But what exactly is passive income, and how does it differ from active income? With Money Ripples' expertise in financial consulting, we will guide you through the effective use of the passive income calculator to harness your assets and plan for a comfortable retirement. Key Takeaways: Understand the difference between active and passive income to build a solid financial foundation. Gain clarity and make informed decisions using a passive income calculat...
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By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
We all use this term "Pre-Approved" But some Mortgage people use it with out actually doing the work that should go into a "Pre-Approval" Read Below to get a good insite into this!!! Original content by Lenn Harley 303829;0225082372 What's the most over-used term in the land of real estate sales?? PRE-APPROVED!!!What's the term most used by home buyers in real estate transactions?I UNDERSTAND!!! Shucks.  If a home buyer can be Pre-Approved, why not issue a LOAN COMMITTMENT letter??? That would at least identify the price of the house, interest rate and length of the commitment. What most home buyer/borrowers don't usually understand is the conditions identified in that Pre-Approval, if they are, in fact listed. A Pre-Approval letter is quite worthless unless it lists those items requir...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
With the upcoming CPI and PPI reports this week, last week still had a number of important data points to consider. First, the non-farm payroll data, helping reveal the situation of pay versus inflation data giving an overall description of the state of the economy in the future. Among that, the manufacturing data has shown to be contracting the past year, with the first signs of relief this month. Lastly, trade data has shown that the trade deficit has grown bigger than expected with Q1 coming to completion. All of these are broader indicators of the state of the economy and the most important data is to come this week, as inflation data will firmly decide when and where rates may be cut in the future. It appears to be becoming increasingly unlikely we will see a rate cut decision by t...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Did you know a temporary buydown could reduce your client's mortgage interest rate? A temporary buydown is a lump sum paid by the builder or seller to reduce the mortgage interest rate for the first 1, 2 or 3 years. Since the buydown lowers the interest rate, it will effectively reduce the overall monthly mortgage payment for the first few years of their mortgage.However, when the buydown period ends, the rate returns to the initial fixed rate. I can walk you through this and other strategies to make homeownership more affordable for your clients. Contact me to learn more.Unlocking Homeownership: Understanding Mortgage BuydownsIn the vast landscape of real estate transactions, one term that often arises but remains mystified to many is "mortgage buydown." For those navigating the labyri...
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Introduction to Mini GPS TrackersAre you tired of constantly misplacing your valuables or worried about the safety of your loved ones? Look no further than mini GPS trackers! These compact devices offer a world of possibilities, from tracking luggage during travel to ensuring the well-being of children and pets. In this ultimate guide, we'll explore everything you need to know to choose the Best Mini GPS tracker for your specific needs. Let's dive in and discover how these little gadgets can make a big difference in your life!Common Uses for Mini GPS TrackersMini GPS trackers are versatile devices that can be used for a variety of purposes. One common use is tracking your valuable possessions such as cars, bikes, or luggage. By attaching a mini GPS tracker to your belongings, you can ea...
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Embarking on a long-distance move presents both challenges and opportunities, whether it's for a new job, to be closer to family, or for a change of scenery. This guide aims to demystify the process, offering actionable advice and insights to ensure a successful transition. Recognizing the unique aspects of long-distance moves, from logistics to settling into a new environment, is essential before diving into the moving process. Partnering with a competent moving service, like AVL, can ease the burden. They address the logistical concerns while you focus on the emotional and psychological preparation for your move. Key Takeaways Long-distance moving is a complex process that requires thorough planning and preparation. Choosing a trustworthy moving company like AVL is essential for a smo...
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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, April 3, 2024  Lender Term/Type Interest Rate % Points % *APR American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.625 1.875 6.050 30-YR Fixed 6.375 1.875 6.643 5-YR ARM 6.000 2.000 7.436 Bank of Hawaii877-616-2636 15-YR Fixed 6.125 1.000 6.283 30-YR Fixed 6.375 1.875 6.557 5-YR ARM 6.250 1.000 7.399 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 5.625 1.875 6.059 30-YR Fixed 6.250 2.125 6.546 5-YR ARM 6.875 0.000 7.798 Finance Factors808-548-3300NMLS#449916 15-YR Fixed 5.750 2.000 6.298 30-YR Fixed 6.375 2.250 6.742 5-YR ARM 6.375 1.500 7.656 First Hawaiian Bank808-643...
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In today's dynamic market, selling a diamond ring can be a daunting task. Whether you're looking to upgrade to a new piece, liquidate assets, or simply part ways with a sentimental item, understanding the best strategies for selling your diamond ring is crucial. From evaluating your diamond's worth to choosing the right platform for sale, this comprehensive guide will walk you through the process step by step, ensuring you get the best value for your precious gem. Understanding Your DiamondBefore diving into the selling process, it's essential to understand the key factors that influence your diamond's value. Diamonds are evaluated based on the four Cs: cut, color, clarity, and carat weight. Familiarize yourself with these aspects to accurately assess your diamond's worth. Additionally,...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
As expected from the prior inflation reports with CPI and PPI, the PCE index had also shown the same corollary among its data points, reporting a higher than expected increase for the month of February across all products.In addition, the Chicago PMI had shown a declining trend of activity among businesses for the 6th week in a row. All this points to that there might be a case for the Federal Reserve to continue holding rates in the next rate decision coming up in the summer of 2024. There has been much speculation that the Federal Reserve will begin cutting rates at this time; however this is evidence of the contrary.Consumer Sentiment ReportsThe numbers: The final reading of consumer sentiment in March rose to a 32-month high, as Americans expressed more confidence that inflation wou...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
Whether you're a first-time homebuyer or a seasoned homeowner considering a refinance, the term "escrow account" often looms as a source of confusion. Yet, understanding the ins and outs of escrow accounts is crucial for managing your homeownership responsibilities effectively. In this article, we'll address some common questions and concerns regarding escrow accounts to shed light on their importance and functionality.What is an Escrow Account?Escrow accounts, sometimes referred to as "impound" accounts, serve as a financial mechanism to facilitate the payment of property taxes and homeowner's insurance. Typically, lenders require homeowners to contribute a portion of these expenses upfront, which is then deposited into the escrow account for disbursement.Who Controls Escrow Accounts?L...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
While it’s not a set deal, the Federal Reserve does appear to be on track for a June rate cut, and following its two-day policy meeting, the central bank’s rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5% until then. Additionally, the government has also avoided another shut down as a series of rushed bills had approved spending for the government by another 1.2 trillion dollars. This is good news for lending markets as the debt ceiling has previously tied up rate decisions in the past.FOMC Rate DecisionFederal Open Market Committee has stated it will maintain the current interest rate for central banks and will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5%.Existing Home SalesThe...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
In Pensacola, Florida, the average long-term U.S. mortgage rate has risen for the fourth consecutive week, presenting another setback for prospective homebuyers just as the spring homebuying season kicks off.According to mortgage buyer Freddie Mac, the average rate on a 30-year mortgage increased to 6.94% from 6.90% last week. A year ago, the rate averaged 6.65%. Currently, the average rate sits just below its peak since mid-December, when it reached 6.95%.As mortgage rates climb, they can significantly raise monthly costs for borrowers, limiting their purchasing power in a market that's already beyond the reach of many Americans. Moreover, they discourage homeowners who secured low rates two or three years ago from putting their homes on the market.In recent weeks, rates have been cree...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
Informative topic! Buying a home with loans from family and friends can be a viable option for some buyers. This blog likely explores the benefits and considerations of this approach, providing valuable insights for those considering this financing option. Thanks for shedding light on this alternative to traditional loans!Have a super fantastic week!Joe Jackson, Realtor-KWCP Seeking a home loan from a friend or family member can be challenging, even when you're close. The financial stakes are significant, and chances are you interact frequently, adding pressure to the dynamic. Rejection could strain your relationship. However, presenting a case that demonstrates mutual benefit can lead to a positive outcome. Approaching the Loan Request Thomas Fox, Cambridge Credit Counseling's communit...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
When purchasing a home in Pensacola, Charles Stallions is your go-to realtor for expert guidance. A home represents the single largest purchase for most individuals, and in recent years, the cost of homes has significantly increased.For many, purchasing a home involves obtaining a mortgage, as few buyers can afford to pay in cash outright. Mortgages, secured by the property, facilitate home ownership, with the title transferring to homeowners upon full repayment.Mortgage 101: Thinking of financing, refinancing, or just needing to understand how the process works? It all starts here. We research whether it's a VA, FHA, conventional, or non-traditional loan for you. We can help simplify the process and remove the challenges.How to Get Mortgage Info and a FREE Credit ReportHowever, not all...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
Choosing the right mortgage term is a critical decision when purchasing a home. The two most common options are 15-year and 30-year mortgage terms. Let's compare the advantages and disadvantages of each to help you make an informed decision:15-Year Mortgage Advantages:Interest Savings: The most significant advantage of a 15-year mortgage is the amount of interest you can save over the life of the loan. With a shorter term, you pay less interest because the loan is repaid more quickly.Faster Equity Building: Monthly payments for a 15-year mortgage are higher, but a larger portion of each payment goes toward the principal. This results in faster equity buildup, which can be beneficial if you plan to sell or refinance in the future.Lower Interest Rate: Generally, 15-year mortgages come wit...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
Last week’s inflation data came in at a higher rate than expected, with Price Producer Index (PPI) numbers showing more than double the expected inflation gain.With both CPI and PPI being over the target, the steadfast certainty that the Federal Reserve will cut rates has now taken a step back, resulting in more tamed expectations for the near future. With a mixed response from lending partners, this may end up rapidly changing in the next round of discussions with the Federal Reserve's Chairman Jerome Powell this coming week, as well as a final rate decision.Consumer Price IndexConsumer prices matched the biggest increase in February in five months, leaving the yearly rate of inflation above 3% a week before the Federal Reserve meets again to consider when to cut interest rates. The co...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
A mortgage escrow account, also known simply as an escrow account, is a financial arrangement set up by a mortgage lender to manage and disburse certain payments related to the property on behalf of the homeowner. The purpose of an escrow account is to ensure that essential expenses, such as property taxes and homeowners’ insurance, are paid on time.Here's how a mortgage escrow account works:Creation of Escrow Account: When you obtain a mortgage loan, your lender may require you to establish an escrow account. This account is typically separate from your mortgage loan account.Monthly Payments: As part of your monthly mortgage payment, you contribute a prorated amount toward property taxes, homeowners insurance, and, in some cases, private mortgage insurance (PMI). The total amount is di...
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By Matt Helganz
(Meridian Capital Real Estate)
Seeking a home loan from a friend or family member can be challenging, even when you're close. The financial stakes are significant, and chances are you interact frequently, adding pressure to the dynamic. Rejection could strain your relationship. However, presenting a case that demonstrates mutual benefit can lead to a positive outcome.Approaching the Loan RequestThomas Fox, Cambridge Credit Counseling's community outreach director, advises treating a private home loan request with the same seriousness as a bank mortgage. Before broaching the topic with a relative or friend, prepare a thorough plan or proposal."Borrowers must realistically assess their repayment capacity and avoid overborrowing. Treat it as any other loan and be practical," says Fox.It's essential to establish a formal...
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By Trish Cole
(Veterans United Home Loans of Puget Sound NMLS#1907)
When it comes to purchasing a home, understanding the array of financing options available is key. Among these options, government-backed mortgages stand out as a popular choice, offering accessibility to a diverse range of potential homebuyers. Let's delve into how these mortgages operate and why they present a valuable avenue for aspiring homeowners.What Exactly is a Federally Backed Mortgage?A federally backed mortgage is a type of home loan insured by a federal government agency, aimed at making homeownership achievable for individuals who may not qualify for conventional loans. These mortgages are crafted to mitigate risk for lenders by providing a government guarantee, ensuring lenders are compensated in the event of borrower default. This support enables lenders to extend more fa...
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