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 Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts.  1.9KSHARES 1.6K 121 22 224   Experts Project Mortgage Rates Will Stabilize While mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll start to stabilize in the months ahead. According to the latest projections, mortgage rates are expected ...
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By inboundREM Market Updates
(InboundREM)
Forty miles southwest of Atlanta lies Newnan, a Coweta County, Georgia city. Just over 40,000 people call this wealthy suburb of Atlanta home. It is the county seat of Coweta County. It has a historic downtown and top-notch facilities, making it a prime real estate option for Georgia residents. It's no surprise that so many families have made Newnan their permanent home; the city has both sprawling mansions and quaint bungalows, excellent schools and a low crime rate.Camellia DriveWhen looking for a great area close to Summergrove in Newnan, GA, one of the top choices is Camellia Drive. Large, showy flowers bloom on the camellia bushes that line this peaceful residential street every spring. Lots on Camellia Drive are meticulously landscaped, and so are the homes within them. This is th...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
Joe, sharing some great advice, worthy of our Daily Re-Blog. Have a great weekend. Bill     “Hi Joe,Our neighbor that lives next to us shared with us that you had assisted them with their credit and a now you are doing their mortgage. We want to buy as well! My wife and I have very good income and also a lot of credit card debt. My mid credit score is 584 and my wife has a 601.   The strange part is we pay all of our debt on time, but our scores don’t seem to improve. Can we set up an online call so that you can help us. We are sick of paying $1700 a month rent.” Unfortunately, paying credit cards on time does not guarantee that credit scores will improve. If the payment doesn’t pay the balance down to one third of the high credit limit, the scores will NOT increase. And as credit card ...
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By Mike & Cindy Jones, Real Estate - (904) 874-0422 - Jacksonville, Fl
(Berkshire Hathaway HomeServices Florida Network Realty)
Mortgage Rate PredictionsAs inflation rose this year, interest rates climbed significantly too. According to the latest data from NAR, today, the typical monthly mortgage payment is now almost seven hundred dollars higher than it was a year ago. If that’s making you press pause on your home search, I get it. But here’s the thing. Experts project mortgage rates should start to stabilize, not continue their steep climb. This chart shows the latest mortgage rate projections from several industry experts. On average, they’re forecasting rates will remain fairly steady over the next four quarters, hovering in the low-five percent range. The key is, we also have to watch what happens with inflation to see how mortgage rates respond. I’m keeping a close eye on all the data, and the good news i...
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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 “Hi Joe,Our neighbor that lives next to us shared with us that you had assisted them with their credit and a now you are doing their mortgage. We want to buy as well! My wife and I have very good income and also a lot of credit card debt. My mid credit score is 584 and my wife has a 601.   The strange part is we pay all of our debt on time, but our scores don’t seem to improve. Can we set up an online call so that you can help us. We are sick of paying $1700 a month rent.” Unfortunately, paying credit cards on time does not guarantee that credit scores will improve. If the payment doesn’t pay the balance down to one third of the high credit limit, the scores will...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When you are applying for a home loan, you need to make sure that you meet the minimum credit score requirements. If you decide to go with a traditional loan, the credit limit can be high, making it hard to qualify for a home loan. In contrast, you might be able to qualify for a VA home loan with a much lower credit score. What do you need to know? The VA Does Not Have A Minimum Credit Score RequirementOne of the major benefits of applying for a VA home loan is that you do not need to worry about meeting a minimum credit score requirement. There is no minimum credit score you need to qualify for a VA home loan, as there are lots of factors that the lender will consider when reviewing your application. Your credit score is only one factor. At the same time, you are encouraged to have a c...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Expert Forecasts on Mortgage RatesIf you've been thinking of buying a home, you may have been watching what's happened with mortgage rates over the past year. Its true they've risen dramatically, but where will they go from here, especially as the market continues to slow?As you think about your homeownership goals and decide if now's the time to make your move, the best place to turn to for that information is the professionals. Here's a summary of the latest mortgage rate forecasts from housing market experts.Experts Project Mortgage Rates Will StabilizeWhile mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they'll start to stabilize in the months ahead. According to the latest projections, mortgage rates are expected...
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By Chris Goulart, California Hard Money Loans & Solutions
(All California Lending)
Are you a real estate investor - or looking to start investing in real estate?  If so, financing is likely at the top of your list.  California hard money loans for investment property is one direction many investors choose to go when looking to finance their real estate endeavor.  There are many reasons to choose hard money loans when investing in California real estate.  First and foremost is the financing aspect.  Real estate is a fairly unique investment opportunity with regards to the ability to use leverage.  Taking advantage of this ability to leverage their cash available is how many real estate investors are able to make outsized gains when compared to other business opportunities.While leverage is a reason to use financing, we have to dig a bit deeper to see why hard money loa...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When you take out a home loan, you might have the option to purchase mortgage points. Essentially, this is money that you pay to the lender upfront in exchange for getting a lower interest rate over the life of the loan. If you got a great deal on the house, you might have some extra cash on hand. Should you use that money to buy down the interest rate? This is a math problem that you need to calculate for yourself.How To Do The MathIf you want to figure out if the mortgage points are worth it, you need to do some math. For example, you may need to pay an extra $3,000 at closing to qualify for a lower interest rate. You need to figure out how long it will take you to get that $3,000 back in terms of interest savings. So, if you save $30 per month on interest in exchange for that $3,000 ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting was minimal due to the Labor Day Holiday. Fed Chair Jerome Powell Weekly readings on mortgage rates and jobless claims were also released.  Fed Chair: Rates Expected to Remain HigherChair Powell said that interest rates will remain high for a longer than expected time as “history cautions against prematurely loosening [monetary] policy.” The Federal Reserve has a legislative mandate to maintain its target interest rate range at or near 2 percent, During a discussion at the Cato Institute, Chair Powell said that the longer inflation remains above the target rate range the more likely the public will view high inflation as normal.Chair Powell addressed concerns about political influence on Fed policy. “ I can assure you that we never take into consideration ...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
   How Does a HELOC Work? With home values having risen dramatically in the last few years, many homeowners are looking for ways to tap their equity without selling their home or refinancing their primary mortgage. If your home has gained significant value since you purchased it, or you’ve just paid so much of the mortgage down that you’ve got ample equity to work with, a second mortgage on your home might make sense. Home Equity Lines of Credit (HELOCs) are popular options for homeowners in this very situation. They’re flexible loans that give you a lot of options and time to decide what you want to do with your equity, but they can also be a bit confusing because they don’t work like a more traditional home loan. HELOCs Are Lines of Credit The most important thing to keep in mind when...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
How Does a HELOC Work?With home values having risen dramatically in the last few years, many homeowners are looking for ways to tap their equity without selling their home or refinancing their primary mortgage. If your home has gained significant value since you purchased it, or you’ve just paid so much of the mortgage down that you’ve got ample equity to work with, a second mortgage on your home might make sense.Home Equity Lines of Credit (HELOCs) are popular options for homeowners in this very situation. They’re flexible loans that give you a lot of options and time to decide what you want to do with your equity, but they can also be a bit confusing because they don’t work like a more traditional home loan. HELOCs Are Lines of Credit The most important thing to keep in mind when it c...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Mr. Petrowsky, You did my loan about 11 years ago. I don’t know why I didn’t reach out to you before this, in any case I need to refinance. Jerry and I are getting a divorce and I will be retaining the home, so need your help. I went to our bank, they gave me a run around for the last 3 months, they just didn’t seem interested.” I’m not sure why a bank client would not be given good service, but the bank employee collects a paycheck every week, whether they do the mortgage or not. That is not the case for us.If we don’t complete the mortgage, we don’t get paid!Reach out for any reason, I’m always here to help!Call (800) 822-7482 or joe@righttracfg.com Originally posted on RightTracFG.com
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Hi Joe,Our neighbor that lives next to us shared with us that you had assisted them with their credit and a now you are doing their mortgage. We want to buy as well! My wife and I have very good income and also a lot of credit card debt. My mid credit score is 584 and my wife has a 601.   The strange part is we pay all of our debt on time, but our scores don’t seem to improve. Can we set up an online call so that you can help us. We are sick of paying $1700 a month rent.” Unfortunately, paying credit cards on time does not guarantee that credit scores will improve. If the payment doesn’t pay the balance down to one third of the high credit limit, the scores will NOT increase. And as credit card balances near the credit limit, the score will drop faster and faster.Collections accounts ...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Hi Joe,You are a life saver. We must have been one of your first callers after reading you were now doing home equity lines of credit. We paid our daughter’s college tuition and we decided to pay off a credit card off and the balance of my car loan. What a weight off our shoulders. Thank you for coming to our rescue once again!”For these folks refinancing was not a good idea, but doing a home equity line of credit was the perfect solution. Especially with the dramatic increases in home values, for some folks tapping into the equity in a home makes a lot of sense.How about you? Would a home equity loan be a benefit for you or someone you know?If you’d like to learn more, give me a call at (800) 822-7482 or joe@righttracfg.com. Originally posted on RightTracFG.com
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By Ray Wright, SoCal Realtor - A.L.C. - Company Trainer & Coach
(Keller Williams Realty)
Mortgage rates have been on a roller coaster ride this year, rising and falling amid inflationary pressures and economic uncertainty. And even the experts are divided when it comes to predicting where rates are headed next.1This climate has been unsettling for some homebuyers and sellers. However, with proper planning, you can work toward qualifying for the best mortgage rates available today – and open up the possibility of refinancing at a lower rate in the future.How does a lower mortgage rate save you money? According to Trading Economics, the average new mortgage size in the United States is currently around $410,000.2 Let’s compare a 5.0% versus a 6.0% fixed-interest rate on that amount over a 30-year term. Mortgage Rate(30-year fixed) Monthly Payment on $410,000 Loan(excludes tax...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
EXPERT FORECASTS ON MORTGAGE RATESIf you’re still sitting on the fence, thinking about buying a home, you may have been watching what’s happened with mortgage rates over the past year.Aloha, Lance Owens (RS) here with LUVA Real Estate and our partners at KCM, It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts.EXPERTS PROJECT MORTGAGE RATES WILL STABILIZEWhile mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll st...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Many people all over the world are dealing with issues involving debt or poor credit history, but most aren't necessarily aware of what exactly makes up their credit score. Unfortunately, it might seem like it's the big stuff that counts when it comes to credit, but little things can have a significant impact on your financial health. If you're looking to improve your understanding and your finances, here's what you need to know about small mistakes and your FICO score. Making Late PaymentsThe due date on your bills might seem like an advisory, but whether we're talking about a student loan, a credit card payment or your telephone bill, late payments can add up. Your payment history constitutes 35% of your total FICO score, which means that even a couple of late payments can have a mark...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Today, there are many people who are having a difficult time purchasing a house. Even though interest rates have gone up, sales are still happening quickly. Therefore, it can be difficult for people to qualify for a mortgage, purchase a house, and get to the closing table before the property is sold. One potential way to get around the hot housing market is to consider a home renovation mortgage. How can a home renovation mortgage help you?A Renovation Loan Can Help People Buy a Less Desirable HomeIf you want to close on a home, you might be interested in a house that is not as desirable as some of the others. That way, you don't have to worry about a bidding war. A renovation loan can help you purchase a less desirable home. If you are interested in buying a home that requires some rep...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on home price growth, federal data on public and private sector job growth, the national unemployment rate, and data on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. S&P Case Shiller: Home Price Growth Slows in JuneThe S&P Case-Shiller National Home Price Index reported slower home price growth in June as home price growth slowed to a year-over-year pace of 18.0 percent as compared to May’s reading of 19.9 percent. The 20-City Home Price Index posted 18.6 percent growth in June as compared to May’s reading of 20.50 percent year-over-year growth in May.The top three cities in June’s 20-City Home Price Index were Tampa, Florida, which posted the fastest year-over-year home price growth rate for...
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