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 Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
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 MarketThis 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’sdecision to raise the Federal Funds Rate last week. As Bankrate says:“. . . the Fed has raised rates again, announcing yet ano...
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By Rocky Dickerson, Superior Service!
(Realty One Group)
How often do we get asked in our careers, "What is a HELOC?" And certainly, many have been asking lately. Especially with Las Vegas home values having risen over 50% in the last few years. Now Las Vegas homeowners are looking for ways to tap their equity without selling their home or refinancing their primary mortgage. Because of that current interest, this may interest you if your home has gained significant value since you purchased it.  Or even if you’ve just paid so much of the mortgage down that you’ve got ample equity to work with. Either way, a HELOC on your home might make sense.As many of us have seen before, Home Equity Lines of Credit (HELOCs) are popular options for homeowners in this very situation. HELOCs are flexible loans that give you a lot of options. They also give yo...
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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)
2022 California Fannie Mae and Freddie Mac Loan Limits for FNMA and FHLMC Conforming Conventional LoansFannie Mae and Freddie Mac have announced the Conforming Loan Limits for 2022.   The standard conventional loan limit has increased to $647,200 across most of the USA.  This is also called the Conforming Loan Limit (647K).  High Cost Areas have higher loan limits based on the Permanent High Cost Loan Limit established in Congress' HERA bill several years back.  The Max conforming loan for Fannie Mae and Freddie Mac in the highest cost areas is now $970,800 for 2022.  These loans are also called Conforming Jumbo, Conforming High Balance, and Super Conforming Loans. Go here for the 2022 California FHA Loan Limits  Go here for the 2022 California VA Loan Limits  **technically there is no ...
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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)
2022 California VA Loan Limits    The VA (Veterans Administration) has announced the 2022 VA Loan Limits for California.  The formula is now based on the Freddie Mac / Fannie Mae conforming limits set by the FHFA (Federal Housing Finance Administration, not to be confused with FHA, the Federal Housing Administration).   VA Loans with zero money down are available throughout the USA to qualified Veterans with full entitlement available up to $2m.  For Veterans without full entitlement available, your maximum zero down VA loan is the VA County Loan Limit minus your prior VA loan entitlement charged. The nationwide base VA loan limit for 2022 is $647,200 (see below for CA VA Loan Limits by county).  VanDyk also offers VA Jumbo loans up to $2M with a down payment or equity (for refinances) ...
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By Minna Reid, Associate Broker
(Killebrew & Company Realty, Inc.)
Facing foreclosure can be overwhelming! Get the answers to the most common Florida foreclosure questions here!  How long do I have?The Florida foreclosure process is one of the longest in the country. Federal law prevents lenders from even starting a foreclosure action until you're 120 days behind. That gives you 4 months to bring the loan current or call the lender and come up with a workout solution to keep the home. After foreclosure has begun, if you stay involved in your case you will have many more months. Find out more about the Florida foreclosure process here. Should I modify my loan? In a mortgage modification the lender makes permanent changes to the terms of your home loan resulting in a more affordable payment. Keep in mind that while a modification will reduce your paymen...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on housing markets, building permits issued, housing starts, and sales of previously-owned homes. The Federal Reserve released its scheduled monetary policy statement and gave a  press conference with Fed Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also published. NAHB: Home Builder Confidence In Housing Markets Lags for 9th Consecutive MonthThe National Association of Home Builders reported lower builder confidence in housing markets in September; this was the ninth straight month that builder confidence fell. Readings of 50 and above indicate that most home builders surveyed reported positive views of the U.S. housing market.  Excluding readings during the pandemic, September’s reading was the lowest m...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
  Kim L. Martin NMLS #: 1019501 Sales Manager Universal Lending, NMLS #2996 W: (970) 283-7686 C: (970) 217-3721 Email me Visit my website Licensed: CO #100507390           A Look Into the Markets   This past week, the Federal Reserve raised the Fed Funds Rate by .75% and issued its quarterly economic projections. In response, home loan rates ticked up to a new 2022 high. Let's discuss three things we learned from the Fed Meeting and what to watch in the weeks ahead. "You gotta believe in someone, asking me who is right, asking me who to follow...Don't ask me, I don't know". I Don't Know by Ozzy Ozbourne "In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3 to 3.25 percent and anticipates that ongoing increases in the target range wi...
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By Laura Sellers, www.AuburnOpelikaALRealEstate.com
(Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com)
Congrats to our @auburntigers #KickoffKid this week! Y'all watch for Tucker out on the field getting the tee right after kickoff. Register YOUR child age 5-12 for a chance to win at AuburnKickoffKid.com #WarEagleBerkshire 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 Brian Skaar, VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
(VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender)
Zero Down FHA Loans for California Home BuyersWe are proud to offer California Home buyers a zero down FHA loan option.  This helps reduce the amount of cash needed to purchase a home.   A typical home purchase will require monies for Down Payment, Closing Costs, and Prepaid items such as Property Taxes, Homeowners insurance, and per diem interest.  By pairing your new FHA Loan with our special FHA second mortgage, you can reduce the amount of cash you will need for your home purchase.  Our Zero Down FHA Loan can be used to purchase:  Single Family Homes Condos Townhomes PUDs 2-4 unit Owner Occupied properties Manufactured Homes A few features of this exciting loan include: Seller credits allowed up to 6 percent to help cover closing costs Gifts allowed for down payment and closing cost...
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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)
California FHA Loan Limits for 2022For 2022,  FHA as released their FHA Loan Limits for California. FHA as released their FHA Loan Limits for California. FHA Loan limits range from $420,680 to $970,800.  The floor FHA Loan limit is $420,680, and higher FHA Loan Limits known as High Cost area FHA High Balance or FHA Jumbo Loan Limits range up to $970,800.  These allow homebuyers to purchase homes in higher cost areas with as little as 3.5% down payment.   The higher FHA Loan Limits also allow homeowners to refinance their non-FHA loans into safe, secure FHA loans up to 97.75% Loan to value, and can even help you consolidate your first and second mortgage in one loan with a 30 year fixed rate.   VanDyk Mortgage allows you to consolidate a second mortgage or Home Equity Line of Credit into...
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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)
The difference between Conventional and Conforming LoansEver since I can remember, these two terms are incorrectly referenced in the media, websites, and by Mortgage lenders and Realtors as well.   So what is the difference between a Conventional Loan and a Conforming loan?   Let's start with defining Conventional Loans.   Loans fall into two main categories:  Government and Conventional.  Government loans include FHA Loans (Federal Housing Administration), VA Loans (department of Veterans Affairs) and USDA Rural Development (United States Department of Agriculture).   If a loan is not one of the former three, VA, FHA, or USDA, then it is a Conventional Loan.   Conventional loans are offered by big banks, credit unions, FNMA (Fannie Mae), FHLMC (Freddie Mac), Mortgage Banks, etc.   A lo...
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By Dora Griffin, NMLS 6380
(D A Griffin Financial.LLC)
Feds Funds Rate, Mortgage Rates and Inflation - Buckle UP!Waking up to pricing for long term mortgage rates this morning is like waking up with the worst hangover.  Yesterday we saw the Feds again raise their Fund Rate by .75%. They toyed with a full point increase, but settled on 3/4 point. The experts I subscribe to imagined an 80% chance long term mortgage pricing would be better today. It was quite the opposite. I feel like I've said it a million times. When the Feds raise their Funds Rate it does not mean long term mortgage rates go up the same. Sometimes we see long term rates improve on the announcement. So far today the reaction is not better pricing, it is worse pricing. The reaction is due to fear in the markets. Fear that the Feds don't have a grasp on inflation. Powell menti...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
There are a lot of people who dream of owning a home one day, but few people have the cash to purchase a home outright. Therefore, you will probably need to take out a loan to buy a house; however, what happens if you cannot qualify for a loan with the traditional loan requirements? If you are not a W2 employee, you may need to go with a Non-QM loan. What do you need to know? What Is A Non-QM Loan? A Non-QM loan is a non-qualified mortgage. What this means is that you do not meet the standard requirements to qualify for a mortgage. Some of the factors that you need to meet to qualify for a traditional mortgage include meeting the necessary income requirements, having pay stubs, having a debt-to-income ratio that satisfies the lender's requirements, and taking out a mortgage that is 30 y...
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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 How to Rock Shopping for Mortgage Rates!!!    Have a rate quote but want to see if another lender, banker or broker can "beat it?"   Concerned that the Fed will keep hiking rates and trying to decide whether to lock your rate today?   Mortgage rate shopping doesn't need to be stressful if you follow these simple tips from an industry pro: No one wants to be defeated,     Rob SpinosaSVP of Mortgage Lending Guaranteed RateNMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com   Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960  *The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock Shopping for Mortgage Rates!!!  Have a rate quote but want to see if another lender, banker or broker can "beat it?" Concerned that the Fed will keep hiking rates and trying to decide whether to lock your rate today? Mortgage rate shopping doesn't need to be stressful if you follow these simple tips from an industry pro:No one wants to be defeated,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 *The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to an...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Our experts say borrowers stand to save from around $1,500 to $3000 by comparison shopping and gathering multiple quotes from lenders. By Melissa Dittmann Tracey   WASHINGTON – As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quotes from lenders—up to $3,000, Freddie Mac research shows. Every dollar may help as housing affordability reaches a critical threshold. The typical U.S. household will no longer be able to afford a median-priced home when mortgage rates reach 5.7%, Nadia...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Our experts say borrowers stand to save from around $1,500 to $3000 by comparison shopping and gathering multiple quotes from lenders. By Melissa Dittmann Tracey   WASHINGTON – As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quotes from lenders—up to $3,000, Freddie Mac research shows. Every dollar may help as housing affordability reaches a critical threshold. The typical U.S. household will no longer be able to afford a median-priced home when mortgage rates reach 5.7%, Nadia...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
Do you have credit card debt? Many Americans do—to the tune of more than $1 trillion collectively, according to the Federal Reserve. And more than 40% of balances are not paid off each month. That can be a financial challenge, but it’s not a life sentence. Take these steps toward paying off credit cards: 1. Set a goal Most people don’t like thinking about debt, but a little planning can make it less uncomfortable. Accounting for your budget and card balance, decide when you want to have everything paid off and track your progress. A sense of accomplishment each month helps motivate you toward paying off credit cards. 2. Create a strategy Once you have your goal, set your strategy. One place to start is with a “snow” strategy for your credit cards: Avalanche: Make minimum payments and u...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Consumer Inflation Rate Falls as Gas Prices DecreaseLower gas prices was welcomed news to consumers last week, but analysts said that high inflation would continue to impact consumer goods including groceries. The core inflation rate, which excludes volatile food and fuel prices, rose by 0.60 percent, which was twice the expected month-to-month pace of  0.30 percent. Rapidly rising inflation could cause the Federal Open Market Committee of the Federal Reserve to raise its target interest rate range again in a further attempt to slow runaway inflation.While lower gas prices provided good news for consumers, rising co...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you currently house-hunting or plan to be in the near future? If you plan on using mortgage financing to pay for your home, you will soon discover that there's no shortage of options available to you. You can meet with a local mortgage professional, apply for mortgages online and even download mobile apps that promise to set you up with a mortgage. However, is every option equal?Let's explore why, in the epic battle of man versus machine, you will want to place your trust in a human mortgage professional.Human Mortgage Professionals Have Local ExperienceThe first and most important reason you will want to work with a human mortgage professional is their understanding of the local real estate market. While you are likely to be working with a real estate agent, your mortgage advisor i...
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