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 Bill Gassett, Metrowest Massachusetts Real Estate
(RE/MAX Executive Realty)
FHA spot loan approval allows financing for individual units in condominium associations without needing full FHA project certification. It simplifies the approval process, benefiting both buyers and sellers. However, there are specific requirements and limitations involved.To determine eligibility, it is recommended to order the HOAFAX report, which provides a comprehensive review of the association's documents and financial information. This report aids real estate agents and buyers in making informed decisions.Understanding the FHA spot loan approval process is crucial for successful transactions.Overview of FHA Spot Loan ApprovalWhat is FHA Spot Loan Approval?FHA spot loan approval refers to a program that allows a unit in a condominium association to be financed through an FHA loan...
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By Dan Rochon, Top Realtor in Northern Virginia
(Greetings Virginia with eXp Realty)
RENTING OUT A HOUSE WITH AN UNPAID MORTGAGEOwning a home is a significant milestone in most people's lives, providing stability, a sense of accomplishment, and a valuable asset.However, life is full of surprises, and circumstances may arise that prompt homeowners to consider renting out their property while continuing to pay off the mortgage.This decision can be a smart financial move, allowing homeowners to generate additional income and build equity simultaneously. The Benefits of Renting Out Your HomeEXTRA INCOMERenting out your home allows you to tap into a steady source of additional income. This income can help cover your mortgage payments, property taxes, and insurance and even generate some profit.BUILD EQUITYWhile renters contribute to your mortgage payments, you continue build...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Looking for an Owner Carry or Seller Carry Home For Sale?Here today are Paradise Valley homes for sale with Seller May Carry or Owner Financing next to Scottsdale Arizona and UPDATED DAILY on the MLS. Are you ready to move to Paradise Valley the most expensive place to live in Arizona? When buying a home one will need a jumbo loan if not buying with cash. However there are usually some Owner May Finance homes available. (Photo: by Jeff Masich Paradise Valley and Camelback Mountain)Paradise Valley Arizona Estates with Owner Financing or Seller Carry Financing AvailableSee Paradise Valley homes for sale with Seller May Carry or Owner Financing on the MLS on FULL PAGE view and obtain your own FREE MLS SEARCH PORTAL in Arizona, creating your own filters, the most powerful home search tool a...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
    When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here’s what you need to know. The Fed is trying hard to reduce inflation. And even though there’s been 12 straight months where inflation has cooled (see graph below), the most recent data shows it’s still higher than the Fed’s target of 2%:    Mortgage 101 it all starts here we do the research for you whether a VA, FHA, Conventional, or non-traditional. We can help take the challenges out of the equation.  How to get a Mortgage and FREE Credit Report    Thinking of buying use our Broker Buying System to do your searches, find out the actual value of each home before you make an...
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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 Rate Holds Steady in JulyMonth-to-month 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, which was the highest reading since reaching a 40-year high in mid-2022.Core inflation, which excludes volatile food and fuel prices, was unchanged from June’s month-to-month pace of 0.20 percent growth. July’s month-to-month reading matched analysts’ expectations. Year-over-year core inflation dipped slightly to 4.70 percent in...
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By Garrett Puckett, VA Loan Lender
(Security America Mortgage)
VA Loan in California processWith most lenders va loans work the same and everything starts with you being honorably discharged from Military service or active duty and having met the service requirements. You'll have full entitlement for your first VA loan and secondary entitlement upon subsequent usage. The VA home loan in California process is very similar to other states even with a Calvet loan or traditional VA loan. Learn more about the VA home loan process and utilize a VA home loan affordability calculator so that you have a detailed understanding of VA loans in California and how much you can afford.California VA Loan Limits 2023Types of VA Mortgage Programs in California VA home loans to purchase a home in California California VA loans to refinance VA IRRL California VA Const...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Today in our blog series "The ABC's of Real Estate," we delve into a topic that has garnered significant attention over the years - subprime mortgages. As a potential buyer or seller, understanding the dynamics of subprime mortgages can help you make informed decisions while navigating the complex real estate market.What Are Subprime Mortgages?Subprime mortgages are home loans extended to borrowers with lower credit scores, making them ineligible for conventional prime-rate loans. These loans typically carry higher interest rates due to the increased risk associated with borrowers who have a history of credit challenges.Understanding the RisksHigher Interest Rates: Subprime mortgages often come with higher interest rates compared to prime-rate loans. This can result in significantly hig...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Today in our blog series "The ABC's of Real Estate," we're delving into a financial tool that holds particular importance for senior homeowners - the reverse mortgage. If you're a senior looking to tap into your home's equity, or if you're supporting a loved one in this stage of life, understanding reverse mortgages is crucial.Demystifying Reverse MortgagesA reverse mortgage is a financial product designed exclusively for homeowners aged 62 and older. It allows you to convert a portion of your home's equity into tax-free cash while still retaining ownership of the property. The loan is repaid when the homeowner moves out of the home, sells it, or passes away.Key Aspects of Reverse MortgagesNo Monthly Mortgage Payments: One of the most attractive features of a reverse mortgage is that yo...
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By Rosie Crow, Exceeding Expectations. Delivering Results
(Serving Sugar Land, Richmond, Rosenberg, Missouri City)
Inflation is one of the significant factors that impact mortgage rates. Inflation usually leads to higher mortgage rates since it decreases the value of the U.S. dollar. When inflation goes up, mortgage rates also tend to increase. This means getting a mortgage loan to purchase a home can become more expensive as higher interest rates translate into higher monthly mortgage payments. But now, let's shift gears to brighter prospects! Shall we?If you are planning to buy a home later this year, you're probably wondering about the interest rate dance. Historic trends and market analysis suggest mortgage interest rates are poised to take a favorable turn in the upcoming months. This could mean more affordability and flexibility for those looking to buy a home. Here are three expert projection...
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By Manfred Lewis Leslie Horne & Associates, Realtor Spartanburg and Greenville SC
(Leslie Horne &Associates )
Don't let terminology or abbreviations scare you away from owning a house. I can help explain it all. #thehelpfulagent #home #houseexpert #house #listreports #homeowner #realestate #realestateagent #realtor #icanhelp #investment #smartmoney #finances #mortgage #happyhomeowners #happyhome
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Making major life decisions often involves a delicate balancing act. Among the most significant choices individuals face are buying a new car and purchasing a new home. Both ventures represent milestones in one's life, bringing excitement and anticipation. However, there is a complex interplay between these two financial endeavors that can significantly impact a person's ability to achieve their dream of owning a new home.  Here are some factors to consider:   Debt-to-income ratio: When you apply for a home loan, your lender will consider your debt-to-income ratio (DTI) to determine whether you qualify for a mortgage. Your DTI is the amount of debt you have compared to your income. High DTI ratios are a red flag for lenders as it indicates a greater risk of defaulting on the mortgage. T...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s scheduled economic reporting included readings on construction spending, public and private sector payroll growth, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released.Construction Spending Slips in JuneU.S. construction spending slipped by 0.60 percent to 0.50 percent growth in June; analysts expected a month-to-month reading of  0.70 percent growth in construction spending. Year-over-year construction spending increased by 3.50 percent of which single-family residential construction accounted for 2.10 May’s reading for construction spending was revised from  0.90 percent growth to 1.10 percent growth from May to June.Private residential construction rose by 0.30 percent in June. Spending on public residential const...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Today in our blog series "The ABC's of Real Estate," we're diving into an important aspect of real estate investing - the Qualified Intermediary (QI) in a 1031 exchange. Whether you're a buyer or seller, understanding the role of a QI can greatly impact the success of your 1031 exchange transaction.The Basics of a 1031 ExchangeA 1031 exchange, also known as a like-kind exchange, is a powerful tool used by real estate investors to defer capital gains tax when selling one property and purchasing another of equal or greater value. This allows investors to reinvest the proceeds from the sale into a new property, facilitating portfolio growth and wealth accumulation.Enter the Qualified Intermediary (QI)Who Is a Qualified Intermediary: A Qualified Intermediary is a third party, often a compan...
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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 mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast.   Click Here to Continue Reading & Share Mortgage 101 it all starts here we do the research for you whether a VA, FHA, Conventional, or non-traditional. We can help take the challenges out of the equation.  How to get a Mortgage and FREE Credit Report    Thinking of buying use our Broker Buying System to do your searches, find out the actual value of each home before you make an offer, property disclosures at your fingertips, home inspection reports, and any work that has or may have been done to the home before seller putting a home...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Your Needs Matter More Than Todays Mortgage RatesIf you're thinking about selling your house right now, chances are its because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you'll buy next, its important to not lose sight of the reason you want to make a change in the first place.Its true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they'll wait to sell because they dont want to move and have a higher mortgage rate on their next home. As Danielle Hale, Chief Economist at Realtor.com, explains:. . . homeowners who locked in a 30-year fixed rate in the 2-3% range don't necessarily want to...
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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, August 2, 2023  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.750 2.000 6.248 30-YR Fixed 6.375 1.875 6.672 5-YR ARM 5.500 0.875 5.684 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.875 2.125 6.347 30-YR Fixed 6.500 2.125 6.796 5-YR ARM 6.500 2.000 7.570 Bank of Hawaii877-616-2636 15-YR Fixed 6.375 1.250 6.574 30-YR Fixed 6.875 1.000 6.974 5-YR ARM 6.000 1.875 7.241 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 6.000 2.250 6.504 30-YR Fixed 6.500 1.875 6.777 5-YR ARM 7.375 0.000 7.860 Financ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
The amount of equity you can borrow from your house depends on several factors, including the current market value of your home, the amount you owe on your mortgage, and your credit score.In general, lenders typically allow you to borrow up to 80% of your home's equity. For example, if your home is currently valued at $400,000 and you owe $200,000 on your mortgage, you may be able to borrow up to $160,000 (80% of the $200,000 in equity you have in your home).However, it's important to note that borrowing against your home's equity comes with risks. If you are unable to make payments on the loan, you could potentially lose your home through foreclosure. It's important to carefully consider the risks and benefits of borrowing against your home's equity before proceeding. It's also recomme...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When homeowners need to tap into the equity they've built in their homes, two popular options are Home Equity Loans (HEL) and Home Equity Lines of Credit (HELOC). Both types of loans allow homeowners to access funds for various purposes, such as home improvements, debt consolidation, or unexpected expenses. However, it's essential to understand the differences between these two mortgage products to make an informed decision that aligns with your specific needs and financial goals. Here are some important differences between the two.Home Equity LoanA home equity loan is a one-time loan that provides you with a lump sum of money that you repay over a fixed term, usually between five and 30 years. The interest rate on a home equity loan is fixed, meaning it remains the same throughout the ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Long & Foster Real Estate Inc 610-225-7400)
If you are buying a home, you need good credit, and many buyers have an idea of their credit score because of the offers from Credit Karma or their credit cards to give them their score. But many do not understand why when they apply for a loan  their credit score is lower.I asked Rich Filipone of Prosperity Home Mortgage, LLC, NMLS:137129 this and some other questions related to soft and hard pulls of credit in this video.If you are looking for a home or thinking of selling a home in Chester County or on the Main Line contact Nick Vandekar Selling the Main Line and Chester County of Long & Foster Real Estate, Inc, office 610-225-7400 cell or text 610-203-4543, Nick@VandekarTeam.com.
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By Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets, CEO of Vision Drive Realty - Coastal San Diego
(Big Block Realty 858.232.8722)
I am not a tax advisor, I am not offering any tax advice. I am always going to insist you direct all tax questions to your CPA or Attorney. I'm merely sharing this information as a homeowner, to help other homeowners understand what can be a "surprise bill" in the first year of ownership.Often, as a REALTOR, I get calls from clients 30 days to 6 months after close of escrow asking "what is this extra tax bill?" even though they were told about it no less than 3 times during escrow...evidenced by signed disclosures.California's Supplemental Property Taxes have been a factor in real estate since 1983. CA Homeowners are subject to them when undertaking new construction or purchasing a home. Basically this tax is a lien on your property, typically placed their by the County in the first yea...
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