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 Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Is an ARM for you?Before you move into the home of your dreams, you’ll need to decide what type of mortgage will work best for your financial needs. One type is an adjustable-rate mortgage, also called an ARM. What is an ARM? We’ll explore this kind of loan so that you can decide if it’s right for you. An adjustable-rate mortgage or ARM is a home loan with an interest rate that adjusts over time. These rates are governed by benchmarks such as the U.S. Treasury and are influenced by economic conditions and your credit score. These are unlike a fixed-rate mortgage which keeps the same interest rate and payment for the life of the loan.If your goal is to get the lowest mortgage rate on a starter home, an ARM is a good introductory option because it usually starts low. Although it is genera...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
 Look Into the Markets   This week the Fed hiked rates by .25% and home loan rates improved to their best levels since September. Let's walk through what happened with the Fed and talk about what to watch in the week ahead. "It Feels Good, yeah" - Feels Good by Tony! Toni! Tone! "We can now say for the first time that the disinflationary process has started. This is a good thing." Fed Chair Powell 2/1/23. As expected, the Federal Reserve raised the overnight Fed Funds Rate by .25% to a range of 4.50 to 4.75%. The Fed Statement and subsequent press conference also contained "dovish" tones where the Fed offered hope that inflation is headed lower and future hikes would be dependent on the incoming data. "We haven't made a decision on exactly where rates need to end up." Jerome Powell. Her...
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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, February 1, 2022  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 4.500 1.875 4.953 30-YR Fixed 5.250 1.875 5.523 5-YR ARM 4.375 0.500 4.510 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 4.500 2.250 4.958 30-YR Fixed 5.375 2.250 5.656 5-YR ARM 4.375 1.750 5.812 Bank of Hawaii877-616-2636 15-YR Fixed 4.500 2.000 4.804 30-YR Fixed 5.250 2.250 5.454 5-YR ARM 4.125 2.500 5.529 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 4.500 2.250 4.967 30-YR Fixed 5.250 2.125 5.522 5-YR ARM 5.375 0.000 6.624 Fina...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
U.S. home prices continued to fall in November according to S&P Case-Shiller’s month-to-month national and 20-city home price indices, but home price growth rates remained in positive territory year-over-year. The national home price index posted a  7.70 percent year-over-year home price growth rate as of November 2022.20-city home price index posts 5th consecutive month-to-month decrease in NovemberThe S&P Case-Shiller 20-city home price index for November reported that the top three cities for home price growth were Miami, Florida with a year-over-year home price growth rate of 18.4 percent; Tampa, Florida followed with a  year-over-year home price growth rate of 16.9 percent. Atlanta Georgia reported a  12.7 percent growth rate for year-over-year home prices.Home prices tracked in th...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you thinking of buying a new home this spring or summer? If so, you're not alone. Many thousands of individuals and families alike will become homeowners this year. Whether you're a first-time buyer or a seasoned veteran of the housing market, you probably know there are significant choices to make. One of the big decisions you will have to ponder is how much you want to invest in your down payment. With that in mind, let's try to answer the question of whether or not it is worth it to put more than 20 percent of the home's price in your down payment.Ask Yourself: How Liquid Are You?Before you can decide how much to put down, you first need to determine how liquid your finances are. That is, how much cash do you have access to? For example, if you are considering a $300,000 home, a ...
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Your Lender gives you a prequalification letter with an amount to tell your REALTOR® the home price to start looking for. However, life has changes (a future job change, baby, taking care of parents or family, medical issues, college and approaching school costs etc). You may have to overlay some of these future changes into a future formula. What is the ACTUAL home price you should consider based on YOUR situation. A price that you can REALLY AFFORD? (Photo Pixabay) Family deciding on ACTUAL PRICE they can afford. Photo: White 77, Pixabay Reatlor.com in an article by Cathie Ericson addressed this issue on Jan 18, 2023 as follows, "Long before you start asking yourself what type of house you want—condo or house? Craftsman or ranch?—you should ask yourself this pragmatic question. After...
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By Rocky Dickerson, Superior Service!
(Realty One Group)
Las Vegas Vantage welcomes Charity Bond of EPiQ Lending. In today's episode, Charity discusses the real estate outlook for 2023. With the majority of home buyers financing their purchase, Charity discusses the patterns and changes ahead for mortgage rates and practices. In this episode, Charity discusses with Rocky Dickerson the way our current market matches with the markets of 2008 and 1980. Charity also gives us things to keep an eye on. Learn how FHA buyers could soon qualify for an extra $50,000 in sales price without earning a penny more! On a personal note, find out the parts of the Las Vegas community that Charity enjoys (and what show made her want to throw her clothes on stage - LOL) To contact Charity Bond, go to: Phone: (702) 622-8494 Email: charity.bond@epiqlending.com Face...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Your Lender gives you a prequalification letter with an amount to tell your REALTOR® the home price to start looking for. However, life has changes (a future job change, baby, taking care of parents or family, medical issues, college and approaching school costs etc). You may have to overlay some of these future changes into a future formula. What is the ACTUAL home price you should consider based on YOUR situation. A price that you can REALLY AFFORD? (Photo Pixabay)Family deciding on ACTUAL PRICE they can afford. Photo: White 77, PixabayReatlor.com in an article by Cathie Ericson addressed this issue on Jan 18, 2023 as follows,"Long before you start asking yourself what type of house you want—condo or house? Craftsman or ranch?—you should ask yourself this pragmatic question.After all,...
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By Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker
(Harry Norman, REALTORS® )
Thank you Will Hamm for your original blog.   Look Into the Markets   Interest rates hover near the best levels since September, despite several good economic readings reported. Let's discuss what happened and see what is coming next week. "Hey, alright now And don't it feel good" - Walking on Sunshine by Katrina and the Waves Economy Grew to Finish 2022 Gross Domestic Product, a measure of economic growth, for the Fourth Quarter 2022 showed the economy expanded at a 2.9% annual rate, down slightly from the 3.2% rate in the Third Quarter 2022. Seeing the economy grow in the back half of 2022 after negative growth in the first half of 2022 is good news. This positive reading elevates the chance of a "soft landing" by the Fed, where they hike rates to slow inflation but do not slip us int...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
This Week's Mortgage Rate Forecast: Rates could be volatile   This week could see rates move a lot day-to-day, and could also set the tone for how rates will move higher or lower from here in coming weeks. Wednesday's Fed meeting and press conference will cause the biggest moves, followed by jobs and wage data on Friday and consumer confidence data on Tuesday. This is a good week to stay in contact with your mortgage professional.What's affecting rates this week: Economic data: A busy week of data that includes consumer confidence as well as jobs and wage reports, all of which could cause some movement for rates this week. The Fed: The Fed will announce a rate hike on Wednesday expected to be .25%, and will issue its policy statement followed by a press conference by Fed Chair Jerome P...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on new and pending home sales, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. New home sales increase in DecemberThe Commerce Department reported new home sales rose to a seasonally-adjusted annual pace of 616,000 sales in December as compared to the expected pace of 615,000  new homes sales and November’s revised reading of 602,000 annual sales. December was the third consecutive month that the pace of new home sales rose, but new home sales remained well below the 1.04 million sales peak reported in August 2020.Pending home sales rose by 2.5 percent in December, which outpaced expectations of a one percent decrease in pending sales and November’s seasonally-adjusted annual dec...
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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 a $0 Down Payment in the Phoenix Arizona Metro area? Well there are rural area homes through United States Department of Agriculture and their USDA Loans available through most lenders. There are Veterans Administration  VA loans that do offer $0 Down but for those of you that are not Veterans the USDA Loan is a great alternative. (photo: Michelle Bryant, Pixabay)Here are ALWAYS UP TO DATE rural designated area $0 Down Payment USDA Loan Homes for Sale in the Phoenix metro on the MLS for the day that you are reading this.  As your Buyer's Realtor, I love to track the $0 Down Payment USDA eligible single family detached homes for sale in the Phoenix Arizona metro area for my clients because I think they are great for those are ready to buy a home but do not have money for a do...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
 Look Into the Markets   Interest rates hover near the best levels since September, despite several good economic readings reported. Let's discuss what happened and see what is coming next week. "Hey, alright now And don't it feel good" - Walking on Sunshine by Katrina and the Waves Economy Grew to Finish 2022 Gross Domestic Product, a measure of economic growth, for the Fourth Quarter 2022 showed the economy expanded at a 2.9% annual rate, down slightly from the 3.2% rate in the Third Quarter 2022. Seeing the economy grow in the back half of 2022 after negative growth in the first half of 2022 is good news. This positive reading elevates the chance of a "soft landing" by the Fed, where they hike rates to slow inflation but do not slip us into a recession. Unemployment Line is Historica...
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By Chris Goulart, California Hard Money Loans & Solutions
(All California Lending)
A private hard money second loan can be a valuable source of funding for businesses and investors in today's high interest rate environment. This type of loan is typically secured by real estate and is provided by private lenders, rather than traditional banks or financial institutions.  For investors looking to access cash in today's higher rate market, a California private hard money second may be the answer.One of the biggest advantages of a private hard money second loan is that it allows borrowers to keep their existing low rate loan in place. This is because the private lender providing the hard money second loan is only placing a lien on the property, rather than refinancing the entire loan. As a result, the borrower is able to retain their low rate loan and access the additional...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
There is a common misconception that someone who is self-employed will not have the tax records or income necessary to qualify for a mortgage; however, that is not necessarily the case. In reality, if you are self-employed, there are a lot of home loan options available to you. It is true that it might require some additional paperwork and planning, but as long as you have the necessary information, you should be able to qualify for a mortgage. What Is Necessary To Qualify For A Self-Employed Mortgage Loan?If you are interested in taking out a mortgage when you are self-employed, you will be held to the same standards as everyone else. This means that the lender is going to require a solid credit score, a long credit history, a favorable debt-to-income ratio, and enough money to cover t...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Paradise Valley is 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. Here are Paradise Valley homes for sale with Seller May Carry or Owner Financing next to Scottsdale Arizona and UPDATED DAILY on the MLS for the day that you are reading this. (Photo from Town of Paradise Valley website)Paradise Valley Arizona Estates with Owner Financing or Seller Carry Financing Assistance 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 availableHave you thought of purchasing a Paradise Vall...
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By Mike & Cindy Jones, Real Estate - (904) 874-0422 - Jacksonville, Fl
(Berkshire Hathaway HomeServices Florida Network Realty)
 There are many options when it comes to mortgages and deciding which one is the best fit for you and your upcoming home purchase can be difficult and downright confusing. In the video above I discuss the four main types of mortgage loan types, FHA, VA, USDA and conventional mortgages.Mike and Cindy Jones, Jacksonville Real Estate Agents, REALTORS904 874-0422MikeAndCindyJones.comBerkshire Hathaway HomeServicesFlorida Network Realty
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you the type of person that struggles with remembering to pay their bills on time? You're not alone. People across the country regularly submit late monthly payments, inflicting terrible damage to their credit. Let's take a quick look at how paying your loan or other monthly payments late can have a negative impact on your mortgage. Your Credit Score Is At RiskAs you already know, almost all banks, credit cards, mortgage companies and other lenders rely on your credit score to help assess the risk of lending money to you. Paying any of your payments late – even something as small as your mobile phone bill or a department store credit card – can result in negative marks showing up on your credit report. If you are late enough times or fail to repay the late payment in full, then your...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
If you are in the process of looking for a new home, you need to find the right one to meet your needs. Sometimes, you want to learn more about specific properties before you decide if it is right for you. As a result, a lot of prospective buyers will include contingencies in their home offers that may allow them to back out without losing their earnest money. What are a few examples of loan contingencies, and how can you use them to protect yourself during the process?  Examples Of Common Loan Contingencies Even if you have agreed on a purchase price for the house, the closing date is probably not going to be for one or two months. This will provide you with time to complete your due diligence and make sure no issues come up. For example, there may be a contingency that allows the clos...
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By Toby Barnett, Toby Barnett
(KW North Sound)
Did You Know an Investment Property Can be Purchased Using Owner Occupied Financing? As an example: a homebuyer can purchase a duplex, live in one side, and rent out the other using owner occupied financing. This is a great win for a homebuyer who wants to start in the real estate market as well as create instant income from a piece of property. You can benefit from the lower interest rate as an owner occupied without having to put 20% down as a traditional real estate investment. So, if you're looking to purchase a piece property as well getting an investment then look at a duplex so you can do both at the same time and capitalize on that low interest rate. Thanks for tuning into this video.
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