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 Brian Skaar, VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
(VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender)
Unfortunately after terrible disasters such as Hurricane Ian, many homeowners come to find their home has been destroyed, is not longer livable, or was so severely damaged that it is not inhabitable.   Fortunately, FHA has an answer that can help. Homeowners and Renters who have been displaced by a disaster that has been declared a "presidentially declared disaster area" have an option to purchase a home utilizing the 203H FHA loan with zero money down.  Yes, 100% FHA financing is available for those whose homes have been destroyed in these disasters. The new home can be located any where employment supports it, and can even be out of county or in another state.   Standard FHA Mortgage Insurance applies and closing costs will be normal and customary just like a regular FHA Loan. Here is...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP Tips for selling your home with a VA Loan on it.   If you woudl like more tips on selling real estate especially in today's market, give me a call or email me. Chris Eckert Chris Eckert Real Estate| KW Advisors650.627.3799 chris@chriseckert.us       
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
These are just a few factors that can help determine your mortgage rate if you’re buying a home. The best thing you can do is have a team of professionals on your side. Connect with a local real estate professional and a trusted lender so you have the expert advice you need at each step of the process. Four Things That Help Determine Your Mortgage Rate If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connec...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Joe, I want to thank you again for getting the refinance done for me. I know it wasn’t a lot of revenues for you, but can tell you it meant the world to me. I can’t believe how stupid I was not paying my property taxes. When I had a mortgage, the taxes were included in the monthly payment. Unfortunately, it got totally out of hand. Never too old to learn a valuable lesson.”  I have never kept track of how often I do a refinance for folks that got behind on their property taxes. And I wish I could say it never happened to me… But like the email above, it didn’t happen again.The interest in the outstanding taxes is a killer. Interest on property taxes and credit cards accumulates in a hurry and can get out of hand fast!Let me know if I can help you with credit counseling, debt consolida...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Mr. Petrowsky I came across your name while doing a number of searches about fixing my credit. I have been paying a law firm $100 per month for 9 months, but not really seeing any major improvements on my score. The only thing that I am seeing is that we are disputing various accounts. We have been told that lenders want to see 640 credit scores, but we are both at around 600. We make a good income and have a sufficient down payment. We are currently paying nearly $2,000 a month rent, which started out at $1,400 four years ago. We want to stop wasting our money and buy a home. Can you help us?”  I am told these types of stories all the time. What a waste of $100 per month – and what a waste of $2,000 a month for rent! There is nothing worse than bad information, and unfortunately ther...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Mr Petrowsky, I did some online searches and came across your name a couple of times. Here is my situation, I am recently divorced and need to refinance my home however, my credit is really bad. My ex was supposed to be paying all the bills including credit cards and car loans and I was paying the mortgage. He stopped paying everything, which I was not aware of until I started getting creditor phone calls. Fortunately, I have a good amount of equity and the mortgage payments have always been on time. A number of the creditors put liens on the home, so the goal would be to get my ex off the mortgage. The property is already in my name, so that part isn’t going to be an issue. Can you help me?”  Think about this: The estimated property value is $350,000 The refinance amount would be $21...
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By Laura Sellers, www.AuburnOpelikaALRealEstate.com
(Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com)
All charges up and ready to go. #BHHSInvolvedBerkshire Hathaway HomeServices Preferred Real Estate, Best Auburn Realtors, Best Opelika Realtors, Relocate to Auburn, Move to Auburn, Homes for sale in Auburn, Homes for Sale near me, Houses for Sale Opelika, Luxury Homes for Sale Auburnwww.AuburnOpelikaALRealEstate.com
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Here are Paradise Valley homes for sale with Seller May Carry or Owner Financing next to Scottsdale Arizona and ALWAYS UP TO DATE on the MLS for the day you are reading this. (Photo: Paradise Valley from Town Website)Also, read on for a separate list of all Homes for sale in Paradise Valley. Note, there are not many on the Seller (Owner) May Carry list but see what is available here. Check back often to see what may come onto the market. These lists are always up to date with the latest listings. I would be pleased to represent you as your Buyer's Realtor in this type of creative seller carry financing and watch out for YOUR best interests. A luxury Paradise Valley estate Have you thought of purchasing a Paradise Valley Arizona estate? You may not have the cash or financing for a jumbo ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on month-to-month and year-over-year inflation and the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The University of Michigan published its preliminary consumer sentiment reading and weekly reports on mortgage rates and jobless claims were also released.    September Inflation Readings Provide No ReliefInflation rose by a month-to-month pace of  0.40 percent in September as costs for staples including rent, food, and medical care increased. The Fed raised its target interest rate by 0.75 percent. Year-over-year inflation rose by 7.20 percent; this was the highest growth reading since 1982. The Federal Reserve considered a year-over-year rate of two percent inflation to be normal before the pa...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
If you are interested in purchasing a house, you need to review all of the offers available. The vast majority of loan officers are going to talk about something called qualifying mortgages, which is usually shortened to QM. You may be asking, what is a non-qualifying mortgage? This is usually shortened to Non-QM, and it simply means that the loan does not conform with the rules and regulations put in place by the Consumer Financial Protection Bureau, usually shortened to CFPB. What are the differences between a QM and Non-QM mortgage, and which one is right for your needs?A Qualified Mortgage Generally Provides More ProtectionIn general, a qualified mortgage (QM) typically provides you with a greater degree of protection. The loan has to conform to certain standards. This means that th...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Saving for your down payment is an important first step on your homebuying journey. Connect with a local real estate advisor and trusted lender today to begin exploring your options.   2.2KSHARES 1.8K 102 21 198 As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why. The 20% Down Payment Myth If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the larges...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
A Look Into the Markets   This past week, we witnessed the highest consumer inflation reading in 40 years and the markets responded. Let's walk through what happened and investigate the week ahead. "Inflation...everybody knows what it is." - Inflation Rock by Eagle Park Slim Consumer Prices Still Rising On Thursday, the Personal Consumption Index (CPI) was reported at 8.2%, which was higher than expectations. What is of bigger concern is the month over month rate of inflation was reported at 0.4%...double expectations of 0.2%. The monthly increase is what the Federal Reserve watches closely to see if inflation is peaking. Shelter makes up 40% of consumer inflation and that component rose 6.6% year over year. For inflation to come down to the Fed's target of 2%, we will need to see rents...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
The Cost of Waiting for Mortgage Rates To Go DownMortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you're planning to buy a home. Here's some information that can help you make an informed decision when you set your homebuying plans.The Impact of Rising Mortgage RatesAs mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here's how it works.Lets assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500). If you're trying to shop at that price point and keep your monthly payment about $2,500-2,600 or below, here's how your purchasing power can change as ...
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By Karen Schimpf, When Your Bank Says No, I CAN Get Your Deal CLOSE
(Commercial Capital Ltd.)
Commercial Real Estate Professionals Please join us for our monthly commercial property exchange. We meet every third Wednesday of the month to exchange property and buyer information. Bring your flyers to pass out your information.CLOSED TO VENDORSMeeting Date:Third Wednesday of Every MonthOctober 19, 2022 Time:8:30 - 10:00 am  Attend Physically @ KW Commercial 900 Quest PkwyCedar Park, TX    Attend via Zoom:Please check your email after registering for the meeting id and password.Please click on the link or copy and paste into the address bar.https://us02web.zoom.us/meeting/register/tZEkc-CorjMrE9Y1m61Qe3Ub9SsUIULXwqKtFYI, If the link is not working please try copying and pasting the link into your browser. Agenda:     8:30 Breakfast and Networking 8:45 Breakfast Sponsor8:55 Speaker 9...
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Last week’s economic reporting included readings from Case-Shiller Home Price Indices, data on pending home sales, and a statement from the Fed’s Federal Open Market Committee. The University of Michigan released its Consumer Sentiment Index and weekly reports on mortgage rates and jobless claims were also published.Case-Shiller: February Home Prices Rose at Fastest Pace Since 2006National home prices rose at a seasonally adjusted annual pace of 12.00 percent, which was the fastest pace of year-over-year home price growth in 15 years.  Case-Shiller’s 20-City Home Price Index reported 11.90 percent home price growth year-over-year and 1.20 percent growth month-to-month. All 20 cities reported inFebruary.Phoenix, Arizona held its lead with 17.40 percent year-over-year home price growth fo...
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By Michael Peron, Michael Peron, Dave Florida Real Estate
(South Florida Home Solutions)
There’s No Reason To Panic Over Today’s Lending Standards Today, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors they’re pointing to is the availability of mortgage money. Recent articles about the availability of low down payment loans and down payment assistance programs are causing fear that we’re returning to the bad habits seen 15 years ago. Let’s alleviate these concerns. Several times a year, the Mortgage Bankers Association releases an index titled The Mortgage Credit Availability Index (MCAI). According to their website: “The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is…a summary measure which indicates the availability of mo...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
While it is sometimes the best option to get your finances repaired, the bankruptcy and following discharge period can be tough. However, while it may delay things for a couple of years, the good news is that even a bankruptcy won't stop you from borrowing a mortgage to buy a home. In today's article, we will share some insight into how you can get a mortgage loan after going through bankruptcy.Step 1: Get A Professional Credit AssessmentOnce your Chapter 7 or Chapter 13 bankruptcy has been discharged, you will be required to wait for at least two years before you're able to take out a mortgage. During this time, it is a good idea to sit down with a credit professional and get an assessment. Individuals and families with a bankruptcy on their credit file are going to go through a bit of...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
3 Reasons to Hit the Accelerator on Your Mortgage Payments - If You Can Afford It.Does the thought of repaying your mortgage for the next twenty-plus years leave you feeling a little down? Whether you've had your mortgage for weeks or years, accelerating your payments is an excellent option that can help get your mortgage fully paid off in a shorter time frame. Let's explore three great reasons to accelerate your payments so that your mortgage debt is paid down faster.You'll Be Debt-Free That Much FasterIt may seem obvious, but it's worth stating that you'll be debt-free that much quicker if you accelerate your repayment schedule. Every extra payment you make against your mortgage debt builds the amount of equity you own in your home. So not only are you becoming more debt-free with eac...
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By Sandy Sills, Associate Broker
(Preferred Real Estate Brokers)
Four Things That Help Determine Your Mortgage Rate If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice. Your Credit Score Credit scores can play a big role in your mortgage rate. Freddie Mac explains: “When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back yo...
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