How to Finance Home Improvements or Renovations

Are you looking to update your kitchen, build the master bathroom you always wanted, or even add a room to your home? Most home improvements or renovations not only help to better the look and feel of the home, they can also add value to your home (equity). But paying out of pocket for repairs […]

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Get The Most Out Of Your Tax Refund

Are you looking to buy the home of your dreams but you aren’t sure how to come up with a down payment? Generating the money for a down payment and paying closing costs can be one of the biggest obstacles a borrower faces in the home buying process.  Now that tax season is here, consider […]

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What is an Adjustable-Rate Mortgage?

Definition: An adjustable rate mortgage (ARM) is a type of mortgage loan with specific rate terms. An ARM is usually initially fixed for a set period of time, followed by periodic adjustments according to a specific benchmark. Other Factors: There are various factors that determine the interest rate changes including market conditions, financial index and […]

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Young family standing in front of their dream home

What is a Fixed-Rate Mortgage?

Fixed-rate mortgages are the most common type of mortgage selected by homeowners today. You are able to lock into a set interest rate which results in monthly mortgage payments that remain the same for the entire life of the loan. According to Warren Buffet, “the smart way to own a home has three elements: a […]

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How Divorce Can Affect Your Credit

Divorce can not only be emotionally painful, but it can also affect your finances. All shared accounts and co-signed loans suddenly become the cause of major issues, especially large loans and mortgages. And it is how you handle these financial obligations that can determine if and how your credit scores change. How to ensure your […]

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The Difference Between Interest Rate and APR

Do you know what the difference is between Interest Rate and APR? These two items are key terms to know when researching mortgage loans. Here are their definitions: Interest rate is the rate at which interest is paid by borrowers for the use of money that they borrow from a lender. This is important to […]

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Winter holiday house

How to Prepare Your Home for Winter Weather

  As the days get shorter and the temperatures go down, the threat of winter storms and rising gas and electric bills become real. In order to make sure that your home is protected during a storm and is efficiently using energy, take some time to prepare for the winter months ahead. Here are a […]

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What is the LTV and Why is it Important?

Definition What is the LTV on a home? The Loan to Value Ratio (LTV) calculates how much equity you have in your home. Equity is the difference between your home’s fair market value and the balance you owe on the property. It is important because it helps lenders determine a borrower’s qualification for loans and […]

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Differences Between FHA and Conventional Home Loans

  Government Insured Conventional loans are not insured or guaranteed by the federal government. This mortgage type adheres to the guidelines set by Fannie Mae and Freddie Mac. FHA loan is one of several government-insured/backed loans. Credit Score Having a good credit score is important for both loan types. Lenders are sometimes less stringent with […]

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Mortgage calculator

Why You Should Lock in a Mortgage Rate

What is a Mortgage Rate Lock? A mortgage rate lock is when a Lender guarantees that you will get a mortgage loan at a specific interest rate regardless of whether mortgage rates change after the lock is made. This is different than a mortgage rate quote, which tells you where rates are at time of […]

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