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Category | Mortgage News

Three Tips to Help Sell Your Home Quickly

There are several reasons why you might want to sell your home quickly. Perhaps house prices are falling, and you want yours to be sold before prices fall too much in your area. Maybe housing demand is falling and you want yours to be more attractive than most in your neighborhood.  Perhaps you are desperate […]

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What is an HOA: Homeowners Association Basics

What is an HOA or homeowners association? Fundamentally, an HOA is a body that sets rules and restrictions for people that belong to neighborhood communities for the benefit of the community as a whole. These communities can take several forms, and it is generally a condition of purchasing a home in such communities that you […]

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How Much Home Can I Afford: Mortgage Affordability Factors

The question “How much home can I afford?” is a common one with new buyers, and there is no easy answer to mortgage affordability without having a lot more information.  There are several ways to work out how much of a home you can afford to purchase, although the two fundamental questions to be answered […]

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Meeting Your Home’s Former Owners Before and After the Sale

Buying and selling a home can be a strange combination of very personal feelings and very impersonal relations. Both the buyer and the seller usually have strong emotional connections to the house, but in the course of making the sale, the two parties don’t always meet in person. If you don’t get an opportunity to […]

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Strategies for Paying Off Your Mortgage Faster

When taking out a mortgage, buyers often consider how they will get a rate that will enable them to pay off their mortgage as quickly as possible. In other words, they want the lowest rate possible, as we all do. Many times it is often only those that are approaching retirement that actually start to […]

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Debt to Income Ratio Basics: The Importance of Your DTI

Fundamentally, your debt to income ratio (DTI) is the percentage of your income that is used to pay your debts, and is often abbreviated to the ‘debt ratio.’ Your ‘income‘ is your total gross income from all sources before tax, and the ‘debts‘ cover everything that you are currently repaying. For example, let’s say you […]

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Why Pay Points on a Mortgage: Are Points a Benefit or Not?

Why pay points on a mortgage, and how do they benefit you? Points are a typically American arrangement, and refer to payments made in order to receive a lower interest rate. They have certain advantages, although these are not universal. Here are some details on mortgage points, and how they can be used to your […]

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Refinance Basics: Should You Refinance Your Home?

Should you refinance your home? Since we can only speak in regards to refinancing on a general basis, before you make a decision to refinance your home you should be sure to speak with a mortgage professional. Everyone’s circumstances are different, and what applies to one person might not apply to you. Before making a […]

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Mortgage Lock Basics: Should You Lock-In Your Mortgage Rate?

A mortgage lock can work for you or against you depending upon the terms of the mortgage rate lock in period and upon the current behavior of the economy as seen in the equities and bond markets (stock markets). Because these are common variables, it is not always easy to provide a definitive answer as to […]

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Private Mortgage Insurance Basics: The Fundamentals of PMI

Private mortgage insurance (PMI) is a form of protection for mortgage lenders in the event of borrowers defaulting on their payments. If a borrow takes a mortgage that is more than 80% of the purchase price of their home, then they must also purchase mortgage insurance to protect the lender. In other words, you need […]

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