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)
The limit for tax free gifts for 2022 is $16,000 and no tax is due to the donor or the donee.  There are provisions that would allow gifts higher than this amount providing the total lifetime gifts above the annual exclusion of $12.06 million for 2022 has not be met.The donor and done can be separate persons so that the aggregate tax-free gift for one-year amounts to more money.  For instance, a father and mother can gift $16,000 each to their married son in 2022 and an additional $16,000 each to the daughter-in-law for a total $64,000.If the son and daughter-in-law used the money as a down payment to purchase a home, depending on how recent the gift occurred, the mortgage company might require a gift letter from the parents stating the amount was a gift and is not expected to be repaid...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
Joe, Not sure if you remember me, but you did my mortgage a little over 4 years ago. The emails you are sending got me thinking about financing or I should say refinancing needs. With inflation where it is, the cost of everything has gone up to a point that I am going to start falling behind. I put on an addition and did some repairs, almost all on credit cards. I went back on the calculator you once sent me, if I paid everything off, even at 7%, I would save over $2,000 a month. Tell me what you need?  He is so right! Saving nearly $2,000 per month means much more than whatever the interest rate is. Whatever rates are currently, or whatever rates will be, they will all get refinanced in the future to save even more money.With inflation what it is, every dollar that is saved really hel...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you current or former member of the US military service who is looking to buy a new home? If so, you will be pleased to know that there are some special mortgage programs that are open to you. Let's take a look at five reasons why a mortgage backed by the Department of Veterans Affairs is an excellent choice when buying your new home. You Can Borrow Up To 100% Of The Home's Value You read that correctly! VA-backed mortgages are available to you even if you choose to put no money towards your down payment. This can be a huge benefit for those individuals and families who are looking to buy a new home but don't have a large chunk of cash on hand to fund the down payment. Instead, you can work with your VA mortgage advisor to get financing for the entire purchase price of your home.You...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on construction spending, public and private sector job growth, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released. Construction Spending Falls in AugustThe Commerce Department reported less construction spending in August as spending fell by -0.70 percent to $1.78 trillion as compared to July’s reading of $1.79 trillion. August construction spending was lower than the expected reading of -0.20 percent and July’s revised construction spending reading of -0.60 percent. Year-over-year construction spending rose by 8.50 percent.Mortgage Rates Mixed, Jobless Claims RiseFreddie Mac reported lower fixed mortgage rates last week as the average rate for 30-year fixed-rate mortgages dropped ...
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By Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker
(Harry Norman, REALTORS® )
Thank you Shayne Stone for your original blog.  How an Expert Can Help You Understand Inflation & Mortgage Rates If you're following today's housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let's take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home. While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserves decision t...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
How an Expert Can Help You Understand Inflation & Mortgage RatesIf you're following today's housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let's take a look at each one.Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home.While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserves decision to raise the Federal Funds Rate last week. As Bankra...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Black Knight: Home prices fell 0.77% between June and July – the largest monthly decline since Jan. 2011 and the first monthly drop of any size in 32 months.   NEW YORK – According to a recent Black Knight report, house prices fell 0.77% between June and July, marking the largest monthly decline since January 2011 and the first monthly drop of any size in 32 months. As mortgage rates continue to rise and weigh on home values, some homeowners have lost wealth. Mortgage rates are now double what they were at the start of this year, and home sales have slowed. However, Ben Graboske, president of Black Knight Data & Analytics, says, “Annual home price appreciation still came in at over 14%, but in a market characterized by as much volatility and rapid change as today’s, such backward-looki...
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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 What Kinds of Banks Issue Mortgages? When you’re shopping for a mortgage, it can be tempting to just talk to the first person you meet, sign the loan documents, and be on your way. But before you do that, it’s actually pretty important that you ask what type of financial institution you’re dealing with, because they’re not all the same. Here’s a quick rundown of the main differences. Traditional Banks Traditional banks are exactly what you imagine when you think of banks. They’re big institutions that collect deposits, notarize things, and sell bonds to the public. With the funds from these activities, they also may lend their own money for the long term, or they...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
What Kinds of Banks Issue Mortgages?When you’re shopping for a mortgage, it can be tempting to just talk to the first person you meet, sign the loan documents, and be on your way. But before you do that, it’s actually pretty important that you ask what type of financial institution you’re dealing with, because they’re not all the same. Here’s a quick rundown of the main differences. Traditional Banks Traditional banks are exactly what you imagine when you think of banks. They’re big institutions that collect deposits, notarize things, and sell bonds to the public. With the funds from these activities, they also may lend their own money for the long term, or they may sell their loans to a secondary loan buyer like Fannie Mae to free up more cash. With a traditional bank, you’ll often get...
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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 for letting me know about the REMN 5 day Heloc. It is going to change my life. I am paying off and paying down debt. I will be able to get my credit score back where they belong. I will lower my monthly bills. It will also reduce my stress of worrying about bills that I cannot get out from under. The Heloc was very easy and fast. Everyone that I spoke to during the process was very helpful.”  Inflation costs all of us. Some feel it more than others. Credit card obligations can be a killer – especially at their crazy interest rates.A home equity line of credit can be the perfect solution for you. With the recent increase in home values, you could be sitting on a large sum of equity. We can do this line up to 90% of the value of your home. If you want to discuss ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Buying a home is a dream that many people want to make come true. At the same time, many people dream of buying a second home. Perhaps you are looking for a rental property. Maybe you are looking for a vacation home. Regardless, you might be wondering how you can come up with the necessary cash to finance this dream. You might even be thinking about tapping into the equity in your current home to make that happen. It could be your down payment for your second house, but what do you need to know?How To Get A Home Equity LoanIf you want to take out a home equity loan for a second house, there are a few steps to follow. First, you need to figure out how much money you need. You need to take out enough money for the down payment and closing costs. Furthermore, you can only withdraw 85 perce...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. 1.3KSHARES 1.1K 77 16 141 Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home. While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserve’s decision to raise the Federal Funds Rate last week. As Bankrate says: “. . . the Fed has raised...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic news included readings on home prices, pending home sales, and inflation. The University of Michigan released its monthly reading on consumer sentiment and weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices: Home Price Growth Slower in JulyAccording to S&P Case-Shiller’s national reading for July home prices, home price growth slowed by -2.90 percent in July as compared to +3.00 percent growth in June. This reading supported analysts’ expectations of a cooling housing market after months of rapidly rising home prices in many areas.  The S&P Case-Shiller 20-City Home Price Index, which is a benchmark report used by real estate professionals, also posted slower home price gains for July. All 20 cities reported...
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By Phyllis Lerner call 914.438.7556, Corcoran Legends Realty
(Corcoran Legends Realty)
When shopping around for a mortgage loan or any type of loan you should keep this in mind:A loan query as it relates to mortgages refers to the act of someone applying for a new loan. On its face there's nothing really derogatory about that. After all, consumers apply for new loans every day. Some might make an application but decide they didn't want the loan after all.First, there are two basic types of loan queries - a hard query and a soft query. What's the difference? A hard query is a direct request by a consumer or a lender to view a credit report in regard to an application made. A soft query is one where a lender, often a new credit card, runs a soft query when deciding whether or not they want to extend to you an offer for a new credit card and/or a personal loan. A soft query ...
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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, September 28, 2022  Lender Term/Type Interest Rate % Points % *APR Acclaim Capital Mortgage383-5931NMLS#304090 15-YR Fixed 4.875 1.940 5.257 30-YR Fixed 5.999 1.447 6.186 5-YR ARM       Aloha Pacific Federal Credit Union531-3711NMLS#377314 15-YR Fixed 5.250 1.875 5.717 30-YR Fixed 5.875 1.750 6.149 5-YR ARM       American Savings Bank, F.S.B593-1226NMLS#423168 15-YR Fixed 5.375 2.125 5.834 30-YR Fixed 6.125 1.875 6.387 5-YR ARM       Bank of Hawaii877-616-2636NMLS# 15-YR Fixed 5.375 2.375 5.746 30-YR Fixed 6.000 2.250 6.214 5-YR ARM 4.625 2.500 5.159 Finance Factors, Ltd.548-3300NMLS#...
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By Pete Beeda
(Keller Williams)
Bankruptcy can be a difficult and stressful time. Many people worry about their finances and whether or not they will be able to keep their homes. If you are considering bankruptcy, you may be wondering if you can still buy a house.The answer is yes, you can still buy a house after bankruptcy. However, there are some things you need to consider before doing so. Here are three things to keep in mind when buying a house after bankruptcy:1. Your credit score will be lowered.2. You may have to wait two to four years before you can get a mortgage.3. You will likely have to put down a larger down payment than usual. If you are considering buying a house after bankruptcy, it is important to talk to a financial advisor or mortgage lender to discuss your options. They will be able to help you un...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you in the market for a new house or apartment? If you are financing the purchase by taking out a mortgage, you'll want to know how to make this transaction run as smooth as possible. In today's article, we'll share a quick four-step guide to speeding up the mortgage closing process.Step #1: Check In On Your Credit ScoreThe first step before applying for your mortgage is to check in on your credit. Request a copy of your credit score and history from one of the major reporting firms. Go over this report, paying close attention to any old or outstanding items that you may have already dealt with. Many individuals have old delinquencies that must be challenged to be removed from the report, so take care of these first before applying.Step #2: Have All Your Documents PreparedAs with an...
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By Sandy Sills, Associate Broker
(Preferred Real Estate Brokers)
How an Expert Can Help You Understand Inflation & Mortgage Rates If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home. While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserve’s decision to raise the Federal Funds Rate last week. As Ba...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
How an Expert Can Help You Understand Inflation & Mortgage Rates If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the grocery store. It may have even impacted your ability to save money to buy a home. While the Federal Reserve is working hard to lower inflation, the August data shows the inflation rate was still higher than expected. This news impacted the stock market and fueled conversations about a recession. It also played a role in the Federal Reserve’s decision to raise the Federal Funds Rate last week. As Ba...
Comments 1
By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted professional to learn more and start your homebuying process today.   A Crucial First Step: Mortgage Pre-Approval  [INFOGRAPHIC] 252SHARES 0 78 21 153   Bottom Line "There Is A Realtor For That" If you’re ready to buy or sell a home Charles Stallions with over 27 years of experience will give you expert advice on your specific situation. Buying Or Selling while living on the Gulf Coast Sign up f...
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