Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
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Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
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Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
Many people seem to have the misconception that ARMs are a horrible loan program in most cases. While the idea of there being a possibility of your interest rate going up and be and is unnerving to many in a lot of cases they can actually be the best way to save money depending on your long term goals.
The only time a FRM (Fixed Rate Mortgage) is a good thing is if the borrowers are planning on staying in the home for long term AND have good credit. Almost always an ARM will have a lower start rate than a fixed rate mortgage will. So if a borrower doesn't plan on being in the home for more than 5 or 7 years there is no point in them paying the higher interest rate of the fixed rate mortgage. If they only plan on owning the home for 2 or 3 years then they can save even more on a 2 or 3 year ARM. This would a lot of times fall into the realm of most first time home buyers. They are usually just getting what ever they can afford at the time so that they can get into the market. Most likly with in 5 years they are going to be makeing more money and be more financially set and are going to be looking to move up into a nicer house or possibly into their dream house. So if the lender listens to their plans and realizes they will most likely be moving with in 5 years they will get into a 5 year ARM and they won't have to worry about the rates going up before they get out of the loan. Granted you never know 100% for sure what is going to happen in 5 years but most people have a good idea where they want to be and are working toward that goal so in most cases it's a pretty safe bet.
For someone with not so good credit their interest rates are going to be much higher to begin with. Sometimes the rates might actually raise their payments to the point that their DTI (Debt To Income) is to high to qualify them for the loan. So they need the lower rate of the ARM to qualify. Also there is no point in them paying that higher rate of the FRM over 30 years. If they make sure to get themselves back on an even keal and pay their payments on time their credit will improve within a couple years. So they will want to refinance at that time anyway once they qualify for a better rate. This will save them much more money over the long term. The tricky part here is typically poor spending habbits are a lifestyle. So you really need to stress to them to make some wiser decissions when it comes to their finances. Perhaps even send them to a good financial planner that you know to help get them on the right track. This is also where a lender or mortgage broker becomes more of a mortgage advisor or mortgage planner for their clients instead of just a lender or broker.
Yes there are some mortgage brokers AND lenders out there that are only trying to make a quick buck and will put their customers into what ever loan will make them the most money but there are many out there that truly do have their client's best interests in mind. The key is to find someone who will listen to what you tell them and will explain to you what all the ins and outs are of each product until you fully understand them.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.