Mortgage News

Negotiating with lenders and exploring local credit unions can help reduce mortgage rates. Understanding rate buydowns and refinancing options can make homeownership more affordable.

Set a goal: Determine what you want to achieve with the renovation and look for ideas online or in magazines. Build a budget: Consider the return on investment and build a realistic budget.

Mortgage brokers can show you a wider range of mortgages from different lenders, while banks only offer their own mortgages.Mortgage brokers represent your interests during the application process, while you deal directly with the lender at a bank.

Your credit score significantly impacts your mortgage interest rate. A higher credit score can lead to significant savings over the life of a mortgage, both monthly and overall.

Evaluate Options: Decide between selling the house or assuming the existing mortgage yourself post-inheritance.Financial Assessment: Calculate equity and costs like repairs, closing fees, and potential tax implications.

Selling commercial Real Estate depends on financial strategy and market conditions. Plan for a six-month sales cycle, including preparation, marketing, and closing.

The Fed left interest rates unchanged, likely delaying cuts until late 2024. The Fed is monitoring inflation and job data before deciding on rate cuts.

The Real Estate market is unpredictable, with some properties selling quickly and others lingering on the market. Location and condition are often, but not always, factors in how quickly a property sells.

Review the contract carefully to ensure you are getting the agreed-upon interest rate and understand any lender fees. Be aware of your prepayment privilege and any prepayment penalties associated with paying off your mortgage early.

You can skip the wait time required to save for a down payment and become a homeowner sooner. You'll face higher monthly payments and interest rates due to the lack of a down payment.