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 Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Buying a home is one of the largest investments you will make in your life, and that's why so many people have longer mortgage amortization periods to pay down the principal. While it may seem appealing to have a longer amortization period, here's why an extended loan term can end up costing you more and may be less financially beneficial when it comes right down to it.About Mortgage AmortizationGenerally speaking, a 25-year mortgage amortization period can be typical, but there are many loan periods that a homebuyer can choose for amortization. While a longer-loan period may seem enticing because it will mean a smaller monthly payment, a shorter amortization will enable you to own your investment sooner, which can be a great boon for many people. It's worth being aware of what works be...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
    Many Americans can't afford a spontaneous $500 expense, let alone a larger emergency. Through savings accounts, you can start building your fund and feeling more financially secure every day.   With a little extra research and planning, you can create a savings strategy that aligns with your personal financial goals.   Learn more about starting a savings account, why you should save for emergencies, how much to save, and how to make a plan here   Building Emergency Savings   Looking to Sell your home Click Here for a Free Appraisal and a Guide On Selling Your Home in the current market.     Need to sell your home before you buy and afraid of having two payments Click Here and receive an instant offer today to see if it works for you.    Looking to buy Click Here to see our inventor...
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By Joseph Domino 480-390-6011, Real Estate Made Easy
(HomeSmart)
I like reading Rob Spinosa 's articles he presents options we don't often think about. Ain't Nobody (Doing a Cash-Out Refi Right Now)      If you believe the statistics, 90% of homeowners with a mortgage will have a home loan rate somewhere under 5% these days.  And it's a safe bet to assume that a high percentage of those may be under 4% or even 3%.  If you're one of these fortunate borrowers, the thought of refinancing your historically-priced mortgage to get cash out --- a.k.a., a "cash out refinance" --- is a non-starter.  To quote Chaka Khan, "ain't nobody" is doing a cash-out refi unless they ain't got no better option.   But often there can be a better option.  The most common one is a home equity line of credit, or HELOC.  But these loan types are adjustable rate mortgages (ARMs...
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By Anna Chroscicki, Realtor - St. Lucie County affordable Real Estate
(Re/Max Masterpiece Realty)
 Find more Real Estate Terms under:https://www.annasellsrealestate.com/fine/real/estate/real_estate_terms/custom/Real-Estate-Terms Anna Chroscicki with RE/MAX Masterpiece RealtyCall me at 772-485-4188 with any Real Estate Questions. Web-site:www.annasellsrealestate.com1775 SW Gatlin Blvd Ste 101, PSL, FL, 34953Selling Real Estate On Treasure Coast Since 2000.   
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By Rob Spinosa, Mortgage Loan Originator, Marin County
(US Bank)
Ain't Nobody (Doing a Cash-Out Refi Right Now)   If you believe the statistics, 90% of homeowners with a mortgage will have a home loan rate somewhere under 5% these days.  And it's a safe bet to assume that a high percentage of those may be under 4% or even 3%.  If you're one of these fortunate borrowers, the thought of refinancing your historically-priced mortgage to get cash out --- a.k.a., a "cash out refinance" --- is a non-starter.  To quote Chaka Khan, "ain't nobody" is doing a cash-out refi unless they ain't got no better option. But often there can be a better option.  The most common one is a home equity line of credit, or HELOC.  But these loan types are adjustable rate mortgages (ARMs) that track Prime Rate, which, here in the fall of 2023, is currently at 8.5%.  However, th...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
FHA loans are typically considered the "easiest" mortgage to get if you're looking to buy a house. You can get an FHA loan with a 580 credit score, or 500 if you make a 10% down payment. Below is the cheat sheet I use to see what it takes to qualify now granted you may not make as much or want to spend as much so adjust the numbers to fit your situation or just call or text Charles at 850-476-4494 for a 5-minute "what do I qualify for? How much do I need to make for a $250,000 house? A $250,000 home, with a 5% interest rate for 30 years and $12,500 (5%) down requires an annual income of $65,310. We're not including any expenses in estimating the income you need for a $250,000 home. How to get a Mortgage and FREE Credit Report    Thinking of buying use our Broker Buying System to do you...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
A Look Into the Markets   The Federal Reserve did not raise rates this past week but spooked the market with its future rate forecast. Let's walk through what happened and talk about the weeks ahead. "You dropped a bomb on me. Baby, you dropped a bomb on me" You Dropped a Bomb on Me by The Gap Band Higher For Longer The Federal Reserve met this past week and as expected paused hiking rates once again but, it was their quarterly Summary of Projections that came as a negative surprise to the financial markets and led to a spike in interest rates. From the last summary three months ago, the Fed sees economic growth coming in stronger, headline inflation higher and the unemployment rate lower. Add it up and it is why the Fed also said they see one more rate hike in December and 2 fewer rate...
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By Manfred Lewis Leslie Horne & Associates, Realtor Spartanburg and Greenville SC
(Leslie Horne &Associates )
When you commit to a substantial down payment, you’ll gain a competitive advantage with sellers, build equity faster, receive better loan terms, and pay less interest over time. However, if a larger down payment isn’t feasible for you, there are still many options available — send me a message and let’s chat!#realestate #realestateagent #listreports #buying #selling #realestateexpert #homeowner #dreamhome #homeownership #homebuying #homesearch #buyingahome #financehub
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
SNOOZE YOU LOSE in Real Estate! Are you waiting until mortgage rates drop significantly before buying a home? It may be a long wait similar to a RIP VAN WINKLE snooze/nap. SNOOZE YOU LOSE! Rip was the man author Washington Irving wrote about that had napped for 20 years in the Catskill Mountains and the world had changed so much after his long snooze. (Photo: Nap by Robin Higgins, Pixabay)Rip Van Winkle snoozing in yard, by Justinthewind, PixabayYou may be snoozing also, still renting and facing rent increases year after year and never building any equity like your friends have? Yes, taking that FIRST STEP can be intimidating. Many homeowners are unhappy or merely content with their current home, but are Waiting for the market to “GET BETTER” before they take action on the purchase of t...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
The previous week offered a blend of economic updates, encompassing data on inflation trends, the pulse of consumer sentiment, and the weekly oscillations in mortgage rates and unemployment claims.August Sees a Slight Upward Trend in InflationThe latest data on monthly inflation was made public on September 13th, revealing that core inflation in August experienced a jump of 0.3 percent over its July reading. This number is a tad above the anticipated 0.2 percent and also overshadows July's reading, which was set at 0.2 percent relative to the preceding month. Drawing from the Consumer Price Index, August witnessed a year-over-year inflation of 3.7 percent.In a broader perspective, the inflation rate observed a 2.4 percent increase in the past quarter when compared to the same timeframe ...
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By Manfred Lewis Leslie Horne & Associates, Realtor Spartanburg and Greenville SC
(Leslie Horne &Associates )
Exploring mortgage terminology: "Cash Offer." It's all about making a move without mortgage loans or financing. Ready to discuss your homebuying journey? Let's connect! #thehelpfulagent #home #houseexpert #house #listreports #homeowner #househunting #finances #investment #realestate #realtor #realestateagent
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By Dennis Neal, Your Home Sold in 21 Days or We Sell It For Free
(RE/MAX, Big Bear)
Hey there, future homeowner! We understand that the journey to securing a home loan can sometimes be a bit tricky. But fear not, we've got your back! Here are six friendly steps to help you on your way to getting that dream home:1. Amp Up Your Credit ScoreYour credit score is like your financial report card, and it matters when applying for a mortgage. Start by grabbing a copy of your credit report. You're entitled to one free report per year from each of the three credit agencies. Check for accuracy and identify areas for improvement.If you're new to credit, consider a secured credit card with a modest limit. It's a smart way to build your credit history and show that you can manage credit responsibly. Just remember, balance is key – too many cards might do more harm than good!2. Tackl...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
There are as many ways to get a home loan in Pensacola Florida as there are homes LOL with little to no money down let's look at a few. There are always the traditional ways as well such as FHA, VA, and Conventional.    SHIP First Time Homebuyers Program The City of Pensacola and Escambia County jointly participate in the State Housing Initiatives Partnership (SHIP) First-Time Homebuyers Program. The program is designed to assist low and moderate-income families in obtaining affordable housing. SHIP funds of up to $25,000 based on income are available for down payment and closing cost assistance. The monies are offered in the form of a zero-interest deferred payment loan.  Pensacola Homebuyer Incentive Program The City of Pensacola is offering up to $30,000 in down payment and closing ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s scheduled economic reporting was limited due to the U.S. Labor Day holiday on Monday. The Federal Reserve released its Beige Book report and weekly readings on mortgage rates and jobless claims were also published. Federal Reserve Releases Beige Book ReportThe Beige Book report is a summary of information supplied to Federal Reserve policymakers by their business and professional contacts. Highlights of September’s Beige Book report included:Accelerated leisure spending by consumers boosted economic growth during July and August.Non-essential retail sales slowed, but the economy was boosted by a final stage of post-COVID-19 pent-up demand.Prices for consumer goods fell faster than in many other sectors.Auto sales rose due to better inventories available to consumers but incr...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Some say our best years are behind us as far as mortgage rates go but that is what all doomsayers say and I say buy now and refinance later because buying is always better than renting.    If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates impact what you can afford when you take out a home loan – and affordability is a challenge today – it’s a good time to look at the big picture of where mortgage rates have been historically compared to where they are now. Beyond that, it’s important to understand their relationship with inflation for insights into where mortgage rates might go in the near future. Click Here to Continue Reading & Share Pensacola to Navarre and Gulf Breeze to Jay Florida as well as all over the Gulf...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
Rising rents are making it more and more difficult for hopeful home buyers to save enough money for a downpayment and closing costs.   READ FULL BLOG HEREHome ownership has a mountain of advantages, not the least of which is the ability to build equity while establishing stability for you and your family. While your investment appreciates, homeowners can receive tax benefits via deductions, develop long-term relationships with neighbors and friends, schools, churches and organizations, and enjoy the freedom to remodel, design, expand and create your ideal lifestyle.  YOUR   Latest activity in the VALLEY of the SUNFor ALL your Valley AZ Real Estate NeedsPHONE   Bill   at   602-999-0952Text         Bill   at    602-999-0952Email      Bill    at     billAZElite@cox.net Read other YVP Blogs...
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By Dennis Neal, Your Home Sold in 21 Days or We Sell It For Free
(RE/MAX, Big Bear)
Buckle up, because we're about to dive into the fascinating world of credit scores! You might think it's just a number, but your credit score holds the key to your financial dreams. Let's unravel the mystery and learn how to make it work for you.FICO: The Credit Wizard You Should Get to KnowEver heard of FICO? It's like the Gandalf of the credit world, a wizard with immense power. FICO stands for Fair Isaac & Co., named after its founders, Fair and Isaac, who started this magical journey 60 years ago. Today, it's not just a name but an acronym known to many. But what does it do?FICO is the gatekeeper to your financial reputation. It measures your creditworthiness based on your payment history, outstanding balances, and other factors. Think of it as your financial report card; the higher...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims.  Inflation Rates Are Similar in AugustMonth-to-month, the inflation rate holds relatively steady at 3.18 percent. This is slightly up when compared to 2.97 percent last month; however, it is significantly lower than the rate of 8.52 percent last year. When compared to the long-term average, inflation is trending in the right direction, as the long-term average is 3.2 percent.Inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, wh...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
One of the key takeaways I appreciate is the emphasis on the importance of a good credit score and stable credit history for conventional loans. It underscores the need for financial preparedness when entering the housing market.Additionally, your insights on private mortgage insurance (PMI) and the down payment requirements shed light on important considerations for buyers.Have a super fantastic week!Joe Jackson, Realtor-KWCP What is conventional financing? A conventional loan is one that is provided by a private lender such as a bank or credit union. With a conventional loan, you get the money you need up front, and pay back the lender over the course of your mortgage. Conventional home loans typically require a down payment and good finances to secure the best terms. A conventional l...
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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 verifyAugust 30th  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.875 1.875 6.355 30-YR Fixed 6.250 1.875 6.544 5-YR ARM 5.375 0.750 5.546 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 6.000 2.000 6.454 30-YR Fixed 6.500 2.000 6.784 5-YR ARM 6.875 1.250 7.722 Bank of Hawaii877-616-2636 15-YR Fixed 6.375 1.000 6.534 30-YR Fixed 6.750 1.000 6.848 5-YR ARM 6.375 1.500 7.442 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 6.000 2.125 6.484 30-YR Fixed 6.375 2.125 6.674 5-YR ARM 7.375 0.000 7.932 Finance Factors808-5...
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