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.

Trending blogs on Lending / Financial
By Karen Schimpf, When the Bank Says No, I CAN Get Your Deal CLOSED!
(Commercial Capital Ltd.)
SBA Disaster Loan Program – EIDL The application is one form at https://covid19relief.sba.gov/#/ which includes the EIDL up to $2MM and the Grant for $1,000.00 dollars for each employee you have. It will ask for your business routing number, etc. If they accept your application, they will wire the $10,000 into your account within 3 days according to the SBA website. This money will be subtracted from your loan if approved, if not approved, IT DOES NOT HAVE TO BE PAID BACK. That’s right. The money will be FREE even if they deny you of the loan. The whole process should take 15-30 minutes max. You don’t need to hire anyone, it is very easy. I don’t know how they calculate how much you will get, but anything helps when you are tight on money right? Whatever they approve you for will be at...
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By Trish Cole
(Veterans United Home Loans of Puget Sound)
Effective October 1, 2016, (the start of fiscal year 2017), program fees for the USDA's Rural Development guaranteed home loan program will be significantly reduced.The USDA loan will become more affordable. The up-front guarantee fee will change from 2.75 percent to 1 percent of the loan amount. The annual fee will change from .50 percent to .35 percent of the average scheduled unpaid principal balance for the life of the loan. This program helps approved lenders work with low- and moderate-income families living in rural areas to make homeownership a reality. It provides the opportunity for these families to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Providing affordable homeownership opportunities promotes prosperity,...
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By David Jackson, MBA, Financial lending analyst
(Olympus Labs)
If you are thinking about taking out a car title loan, you are most likely facing some kind of a financial emergency that needs to get taken care of as soon as possible. It’s an uncomfortable place to be in and can put a strain on many facts of your personal and professional life. What’s important to remember is that just because you are looking to take care of your financial crisis with some kind of fast cash loan as quickly as possible, doesn’t mean that you should simply jump at the first opportunity you come across that can get you the money you need. So, what is a car title loan, and what are the factors to look out for when you are applying for one. First, let’s break down the simple facts of car title loans. Car title loans are known as short-term loans that can get your out of a...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Latest Unemployment Report: Great News…for the Most Part The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the second consecutive month. However, there’s still a long way to go before the economy fully recovers as 17.8 million Americans remain unemployed. Here are two interesting insights on the report: What about a supposed misclassification? The BLS addressed this at length in a blog post last week, and concluded by saying: “Regardless of the assumptions we...
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For the buying of a house, investment of the person should be in the right place. The housing companies that offer cash home buyers in Virginia Beach should be selected. If the selection of a fast procedure is made, then results will be sufficient. No requirement of repairs should be there and get an inspection at online websites. The commissions can be paid to intermediaries for exploring different ways. The results are valid for the person to buy or sell houses.In the modern economy, the selling of home will be fast and straightforward with cash offers. Many ways can be adopted through the buyers and sellers to crack the best deal. Some sellers will offer repairs and maintenance of the home to get the desired benefits. Some of the ways are stated here for the advantage of the buyers.H...
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By Michael Cantwell, Helping you manage your largest asset.
(Clear Path Mortgage - NMLS ID #2079870)
There was some breaking news this week from Freddie Mac ( the Government-owned backer of many conventional mortgages ) in regards to what documentation Self Employed Borrowers will now need to provide to a mortgage lender to prove their income is still sufficient to qualify for a mortgage.   As most everyone knows, almost all mortgages that are still available in the US post-COVID shutdown are now backed by one of the biggest agencies of the Federal Government, Freddie Mac.  Other agencies including Fannie Mae, FHA, VA, and the USDA will most likely follow suit if they haven't already updated their guidelines.  This change means almost all mortgage lenders now need to adhere to these new policies if they want their loans they originate to be eligible to be purchased by any of these enti...
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By Karen Schimpf, When the Bank Says No, I CAN Get Your Deal CLOSED!
(Commercial Capital Ltd.)
cc: by:https://flic.kr/p/PBq9iE      The stock market has rallied off the lows, so much so, that it has broken through key technical resistance. So of course, a pullback is going to happen. Except there is an old adage that says, you can’t fight the market. So of course, then it should keep going up.   The unemployment report comes out this Friday and the news is going to be bad, really bad, of course, the market should sell-off. Except the economy is re-opening almost everywhere so of course, the market should keep rallying. There are anger, protests and rage sweeping the major cities in America, of course, the stock market should go down.  There is an election coming up and the market almost always rallies in an election year, of course, the stocks should continue to rally. All these...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reports included monthly readings from Case-Shiller Home Price Indices, FHFA home prices, and readings on new and pending home sales. Weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller Home Price Indices: Home Price Growth Pace Increased In MarchNational home prices rose at a year-over-year pace of 4.50 percent in March from February’s reading of 4.20 percent. According to the Case-Shiller 20-City Home Price Index, home prices rose by 0.40 percent to a year-over-year growth rate of 3.90 percent.The three cities reporting the highest rates of home price growth year-over-year were Phoenix, Arizona with 8.20 percent year-over-year growth; Seattle, Washington reported year-over-year home prices growth of 6.90 percent. Charlot...
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By Rene Burchell, Experience Luxury Real Estate Service
(Coldwell Banker Residential Frisco)
Interesting article from National Mortgage News,what are you seeing in your area? Lets network!  12 housing markets where prices are cooling off Rene
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Your Pandemic Guide to a Jumbo Mortgage  "Our Realtor said it's very difficult to get a jumbo loan these days.""We tried to do a cash out jumbo refi on our place but our bank told us that they're not doing those anymore.""We wanted to refinance our jumbo loan but by the time we did the research the rates weren't any lower than what we have already.""Is it possible to refinance a jumbo loan without having to move our savings and investments to the bank who's making the mortgage?""We have a 20% down payment and are looking to buy a house that requires a jumbo loan.  We had no idea that would be so difficult.  Why are banks now telling us we need more than 20% down?" As we go into the second half of 2020, it's unquestionably true that we've seen a complete reshaping of the mortgage industr...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Protect Your Financial Health & Credit During COVID-19 ... Take These Steps Now  Your physical health and mental well-being must always be an important focus.  The grave challenges posed by the current COVID-19 crisis, make that even more true ...But it's not only your physical and mental health that should remain of concern.  Your financial health is important as well.COVID-19 has delivered some severe financial health challenges to many Americans' doorsteps.  Those include loss of employment, job furloughs, layoffs, diminished wages (and more) that have taken a real toll.No amount of handwashing or wearing of masks protects your financial health.  That has to be accomplished in other ways.  So what steps can you take to protect yourself or get back on the road to good health when it...
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By Lea Lagueux, Your Tampa - St Petersburg Local REALTOR
(Future Home Realty)
 These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals. Refinance Your Mortgage - For prime borrowers, mortgage rates are at or near historic lows. Depending on your current mortgage rate and the terms you choose, refinancing could save you a sizable amount on your monthly payments. There are fees and closing costs associated with refinancing, so you’ll need to talk to your lender to...
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By Ben Yost - 303-587-4297, FHA, VA, Conventional - Mortgage Loans in De
(First Time Home Buyer, Mortgage Rates, Pre-Approval)
 "Do I need great credit to get a mortgage?"Quick answer: "No!"Complete answer:Credit score is one of the most misunderstood topics about getting a mortgage. Many people believe that you have to have perfect credit and high scores to qualify. While having a higher score may help you obtain a slightly better interest rate, it is usually possible to get a mortgage with less than perfect credit.Rather than try to tell you everything you need to know about credit here, I'd like to offer you a free, no obligation conversation to discuss your credit. We can talk about what your score is now (and how the score used to qualify for a mortgage is different than the scores you may get through credit card company monitoring or websites like Credit Karma), how it will affect your ability to get a mo...
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By Sally Dunbar, Fair Oaks Realtor - Fair Oaks Homes for Sale
(Lyon Real Estate, Fair Oaks CA (Sacramento Area))
Dang! It just happened again! My buyer's daughter transferred $20K into their account, because they're really buying the condo for the daughter with her money. (The daughter has bad credit, but a wad of money, so Mom and Dad are making the purchase for her).  Now we need to show proof of where the money came from - which means copies of the original check, copies of the cashed check, copies of her birth certificate, marriage license, and dog's vaccination.  OK... I jest about the last 3, but DON'T MAKE DEPOSITS WITHOUT SPEAKING TO YOUR LENDER ABOUT THE CONSEQUENCES TO YOUR LOAN. Federal guidelines mandate we need a paper trail for every cent of money that goes through your bank account. Getting these verifications take time... time that can throw a serious wrench into your loan process....
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
How Looooow will they go? When speaking of mortgage rates they are near record lows right now but they may be poised to go even lower this year.Clare Trapasso of Realtor.com wrote on May 21, 2020, "One of the few silver linings for real estate in the middle of this devastating coronavirus pandemic has been record-low mortgage interest rates. And housing experts predict those ultralow rates will likely fall even further—venturing into the unprecedented 2% range. That could give the flagging housing market—deeply hampered by state and local lockdowns, uncertainty about COVID-19, and a sputtering economy—a much needed boost. Lower Rates Mean Lower Monthly Housing Payments Lower rates equate to lower monthly housing mortgage payments, meaning many buyers will suddenly be able to afford home...
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By Chris Dunham, The Real Estate Guy™
(NexGen Brokered by eXp Realty)
Fix your credit so you can buy a house - Credit Repair TimeUnderstanding how credit works is frustrating! I know first hand how hard it is to build back up a score once its plummeted to the ground! I have been selling houses for over 20 years, as a full time Realtor. SO when the AZ Market crashed, I, unfortunately, crashed with it. BK, Repo, Foreclosure etc,  had it all. Heck, I was afraid to look at my score as I knew it would a sad state of affairs.So, on my own, I began to rebuild it from the dismal number it was, to the high 700's it is today. You want to know how I did it? Give me a call or shoot me an email, we'll sit down, game plan what you're wanting to do and I'll set you on the path of home ownership. Many can "tell you how to do it" but I can show you, based on my personal e...
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By Karen Schimpf, When the Bank Says No, I CAN Get Your Deal CLOSED!
(Commercial Capital Ltd.)
  Did you read Danielle Hale , Cheif Economist at Realtor.com.  Predictions for 2020 before and after COVID 19 https://www.realtor.com/research/2020-housing-market-predictions-covid-19-update/ 
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By Jerri McCombs, Broker/Owner, Hendersonville NC Relocation
(Dogwood Real Estate Services)
Hey all of you first time buyers! Are you having a hard time knowing what it may cost you to close on a home? Most sites deal with mortgage calculators which will give you an approximate monthly payment. But this Closing Cost Calculator will tell you what to expect in up front closing costs. If you are unfamiliar with the term Closing Costs, I have linked you to Wikipadia so that you can read about it. This is a must read for new buyers, as it will give you the terminology for all of those fees on your closing statement. After playing with the Closing Cost Calculator, you can move to the Mortgage Calculator to play with the numbers and estimate your monthly payments. If you are serious about starting the process of buying a home, but feel like you don't have the information or confidenc...
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By Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC
(Keller Williams Capital Properties)
I love this blog post by Gene Mundt.  We are frequently asked by our clients to recommend a lender (or two or three.) After you read this post, you can explain to your client why you recommended those particular lenders..... and why they should listen to your recommendations.      Choosing Your Loan Officer: Don't Short-Change Yourself   The act of obtaining a mortgage has become a deeply personal and individualized pursuit. In its present form, it has little in common with mortgage applications of the past.Because of that fact, the act of choosing a Mortgage Originator/Lender is far more important now than ever before.  There's far more riding on your choice. Yet, statistics show that all too often little time or effort is expended on studying and making that choice: According to a Rep...
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By Mark Maupin See Blog Free Investors Training, National Real Estate Investors Network Host
(National Real Estate Network, LLC)
Click https://www.neededfunding.com/ Now Click https://www.neededfunding.com/ Now Business Funding, Payroll Protection Program & 23 Single Use Funding Services!100+ Lenders  •  10,000+ Loan VariationsQuick Application Apply Nowhttp://www.NeededFunding.comUnlike a bank, we are not tied down to a single lender. With over 100 lenders and 10,000+ loan variations we have the expert skills and financing resources to get your deal closed.          SBA Payroll Protection Program         1-4 Unit Investment Property Rental Home Portfolio (5+)         Apt Building / Multifamily Dwelling         Assisted Living Facility         Auto Dealership/Used Car Lot         Auto Repair         Bed & Breakfast Inn         Bowling Alley         Commercial or Retail Building         Gas Station         Restaur...
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