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Tips for First Time Home BuyersWhen looking at tips for first time home buyers, you've come to the right place. Many people are looking all over the Internet for reliable information. There's over 761,940 websites (as of March 05) with information or online forms urging you to fill them out for more details. While I certainly agree the Internet is a great place for obtaining tips for first time home buyers, it can also become a real information overload as well. So I want to give you some tips that can help in your search. Tips for First Time Home Buyers #1 Don't be too quick! Avoid giving out your personal information like Social Security number, date of birth etc. at every website that asks for it. This is the single biggest mistake I've seen made. Some first time home buyers in their zeal to get started do this. The problem is this, many sites will require this information before they'll give you any details. They start out with a simple, name and address screen, then lead into screens that ask for more personal details. At all costs, hold off giving out this private information. You will have to at some point in time. Not until you've learned about the mortgage process should you do this. What happens when you fill in the forms online? Your e-mail box will be flooded with loan offers. Many places tout they'll have 4 lenders or even more give you quotes. Guess what? Nearly every one of these lenders are going to run a credit report. If you have numerous inquires in your credit in one month, this can affect your credit score. Another reason to be careful here is that most of these websites are lead generators. The company or webmaster will sell your information to one or perhaps even more sources and then we have a BIG problem. It can costs you in your credit score. The lower your credit score, the higher your interest rate will be. The higher your credit score the lower your interest rate. Tips for First Time Home Buyers #2 Work with someone you trust. How can you determine if that person is honest and trustworthy? Listen to them closely. Are they trying to hurry you along to get your personal information? Or are they taking the time to explain things and help you to understand exactly what you're about to get into? Buying a home is the single biggest investment most people make in their lifetime. Then afterwards, managing that debt is important also. You want to work with someone who will help you do this. They should be interested in a long term relationship with you. Over your lifetime you'll get more than 1 mortgage. I know, it's hard to imagine that now, but statistic's show that on average people move or get a new home loan about every 7 years. Having someone you trust, that has your best interest is what you need. I look at it this way, if I do a good job for you, you might tell 1-2 of your friends. If I did a bad job for you, you'll tell 100 of your friends. I build my mortgage business 1 loan at a time. I love referrals so I take a personal interest in each and every borrower. My customers talk about me to their friends!! Tips for First Time Home Buyers #3 Choose your Loan Officer wisely. Now because of the Internet, home lending has become a big business. Mortgage Brokers and Lenders have popped up everywhere. Many have also fallen by the roadside at the same time. The money business is HUGE! Did you know that over 1.3 TRILLION dollars changes hands around the globe everyday?? When you start to think about it, it staggers your mind. Your First Time Home Buyers loan is just a very small part of daily business. There's a big difference between a lender and a broker. Brokers are middle men between you and the lender. They get paid for brokering your loan. They also can help you get loan offers from many lenders. Since the mortgage broker gets wholesale pricing, this can be good if it's done without running your credit every time. That's why I say choose your Loan Officer wisely. Many times when working with a broker, you may not know who your lender is until the day of closing. Again, this is still alright if your loan is locked, you know all the details of the loan product and so forth. What's important is that the Loan Officer has revealed all the correct information. Is it a fixed rate loan? Is it an ARM? Is the interest rate what he quoted you in the beginning?? I can't tell you how many times I've heard horror story's about last minute changes. The buyer finds out that their closing costs are more, the interest rate is higher etc. When you're at the closing table, the buyer's there, the seller and the realtors. What are you going to do?? If you go ahead and close because the pressures on, it's going to cost you thousands of dollars over the years. Many ruthless loan officers have done this to First Time Home Buyers and just don't care. They may never see your face anyway. You're just a paycheck to them. Working with someone you trust can help avoid this problem and save you money. Dealing with a loan officer who is on your side will protect you. Nevertheless if you've been taken advantage of, this is a RESPA violation and they should be reported. Jeff Ragan is a loan officer interested in helping people understand the mortgage process. Too many people have been taken advantage of by unscrupulous loan officers. His website has dozens of informative pages to help first time home buyers save time, money and mistakes. Feel free to visit at http://www.jeffreyragan.com
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Mortgage Rates Drop Again -- Homeowners Can Save Hundreds Per Month By Refinancing Forbes Mortgage rates are continuing their downward spiral. According to Freddie Mac, the average rate on a 30-year fixed-rate loan has dropped to just 3.82%—down ... Your money: Buying or refinancing? The mortgage rate frenzy is back Reuters Mortgage rates are nearing historic lows again in the United States, making it an ideal time to buy a home - or refinance. As mortgage rates plunge, should you refinance? Fox Business Nearly 6 million people can now cut their mortgage payments with refinancing. Refinance rates drop off for Wednesday Bankrate.com Several closely watched refinance rates fell today. See what that means for your chances of getting a better mortgage rate. U.S Mortgage Rates – Rates Rise for the 1st Time in 7-Weeks Yahoo Finance 30-year fixed mortgage rates rose for the 1st time in 7-weeks. The latest FOMC projections and rising geopolitical risk could reverse that with interest… Buying or refinancing? The mortgage rate frenzy is back STLtoday.com Average rates are around 3.82% nationally for 30-year-fixed mortgages, after peaking near 5% in November. Mortgage rates are falling—here's how to tell if you could save money by refinancing CNBC As mortgage interest rates drop, homeowners could save hundreds per month by refinancing. However, it's not a smart financial decision for everyone. Mortgage applications surge on refinances as rates hit 21-month low USA TODAY As mortgage rates fell to the lowest level since September 2017, mortgage applications surged 26.8% last week, led by an increase in refinancing. Applications for mortgages, refinancing spike amid low interest rates Fox Business Amid the lowest mortgage rates in almost two years, overall mortgage applications swelled last week by nearly 27 percent according to data released ... Nearly 6 million people can now cut their mortgage payments with refinancing Bankrate.com The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate -- two ... Refinance rates decline for Thursday Bankrate.com Several key refinance rates sunk lower today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both trended down. The average rate on ... Weekly mortgage applications fall as rates rise, volume remains much higher than last year CNBC Mortgage applications were down 3.4% from the previous week, but still up 31.6% from a year earlier, according to the Mortgage Bankers Association. Mortgage rates today, June 21, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Average mortgage rates tumbled yesterday. It's been a while since we saw a fall this big and a long time since we saw rates this low. This happy situation may ... How low can mortgage rates go? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Mortgage rates are low as of this writing, really low, but can they go lower? Lower rates would be great for borrowers and yes, that could happen. Interest rates are down, so is it time to refinance? Newsday Interest rates for mortgages are low — really low. As of the first week of June, long-term mortgage rates were down for the sixth consecutive week. The 30-year ... Does refinancing your mortgage make sense as interest rates fall and why these couples say they’ll never move in together MarketWatch Happy Thursday, MarketWatchers! Don't miss these top stories: Personal Finance. The filthy mistake you're likely making in the kitchen — and its simple $14 ... Refinance rates tick lower for Friday Bankrate.com Multiple benchmark refinance rates ticked downward today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both trended down. Refinance rates drop off for Thursday Bankrate.com Multiple closely watched refinance rates ticked downward today. See what that means for you if you're in the market for a mortgage. Mortgage Applications, Refinances Surge After Interest Rate Drop Forbes Thanks to low mortgage rates and slowing home prices, mortgage applications and refinances soared last week. Refinance mortgage rate moves higher for Friday Bankrate.com Refinance rates were mixed, but one key rate were higher. If you haven't locked a refi yet, see how your future mortgage payments could be affected. When Mortgage Refinancing Makes Sense Seeking Alpha There are many misconceptions about what happens with refinancing a mortgage and the effect on interest payments. The important factors are rate, time and ... Low mortgage interest rates stimulate homeowners to refinance Chicago Daily Herald The usual reasons to refinance a home mortgage loan are to reduce the monthly payment or to raise cash. The third option, which is underappreciated, is to ... Latest 2019-2021 Predictions: Home Sales & Prices, Mortgage Rates & Loan Volume Yahoo Finance Last week, our friends at the MBA released their latest predictions on home sales, home prices, mortgage rates, and mortgage volumes. Rates dropping this year ... Mortgage rates today, June 17, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Average mortgage rates on Friday held steady, as we predicted. Last week had its ups and downs but ended with those rates almost exactly where they had ... Mortgage rates decrease for Thursday Bankrate.com Multiple benchmark mortgage rates trended down today. See how that could affect your home loan payments. Mortgage rates fall as the Fed hints at future rate cuts | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports The Federal Open Market Committee (FOMC) meeting ended Wednesday with a no-hike decision, but that didn't dissuade markets from believing a July rate cut ... Mortgage rates lower for Tuesday Bankrate.com Several benchmark mortgage rates declined today. If you're shopping for a mortgage, see what that means for you. Airbnb adds another mortgage refinancing partner Inman.com Guild Mortgage has become the latest home loan provider to treat short-term rental revenue from Airbnb as income for homeowners applying to refinance their ... Nearly 6 Million People Can Now Cut Their Mortgage Payments With Refinancing | RisMedia.com With interest on the low side, there is a potential to refinance and save. Refinance rates retreat for Monday Bankrate.com Several closely watched refinance rates fell today. If you're in the market for a home loan, see how your payments might be affected. When Should Homeowners Refinance? WCCO | CBS Minnesota MINNEAPOLIS (WCCO) – Since November 2018, 30-year fixed average mortgage rates have dropped from 4.94% to 3.99%. According to Black Knight's ... Mortgage rates today, June 18, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Average mortgage rates rose just a little yesterday, roughly in line with our prediction. Your rate may well have held but, if so, your closing costs may have edged ... Mortgage rates extend decline, sinking to 16-month lows The Washington Post After five weeks of declines, mortgage rates are at their lowest levels in 16 months. According to the latest data released Thursday by Freddie Mac, the 30-year ... Refinance rates tick lower for Thursday Bankrate.com Several closely watched refinance rates sunk lower today. If you're in the market for a home loan, see what that means for you. Mortgage investors' refinance concerns rise with rate rally National Mortgage News Mortgage prepayment speeds may rise with the strong U.S. rate rally, and that may be cause for alarm for mortgage investors. Freddie Mac is now offering renovation loans Washington Post Freddie Mac is joining the renovation loan space. While the Federal Housing Administration and Fannie Mae have had programs that allow borrowers to wrap ... Despite rising home prices, experts pop bubble fears Bankrate.com Homebuyers sitting on the sidelines, waiting for housing prices to backslide, might be waiting longer than expected, according to experts. Although the high price ... Personal Finance: What you should know about refinancing your mortgage Chattanooga Times Free Press Following the Great Recession, mortgage rates plunged to historic lows in 2012. This presented a perfect opportunity to refinance and capture the savings. Should you get a personal loan instead of a HELOC or cash-out refinance? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports So you want to borrow some money and you're not sure about the right type of loan. Should you get a personal loan, home equity loan, or opt for a cash-out ... Mortgage Rates Drop and Stock Market Rises – Market Update Zing! Blog by Quicken Loans Mortgage rates continue to fall and the stock market was up despite a weak jobs report. That and more coming in Market Update! Leading mortgage lender Quicken Loans sees record loan volumes CNBC "We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says. Interest Rates Are Down; Is It Time to Refinance Your Mortgage? Money and Markets The 30-year fixed rate average was below 4%. If you're a homeowner, you may be wondering if now's the time to refinance your mortgage. 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Mortgage Closing Rate Rises to Highest Level in at Least 16 Months Mortgageorb Despite falling mortgage rates, the refinance share of total mortgage volume fell to 32% of all loans in May, down from 35% in April and down from 38% in May ... Treasury Yields May Take Another Step Down Thanks to Mortgages Yahoo Finance (Bloomberg) -- The mortgage market was supposed to be quiet this year, but suddenly it's moving the biggest bond markets. When Treasury yields started falling ... KENYA : Kenya Mortgage Refinance Company already attracting international funding Africa Intelligence One of the many projects in the in-tray of the treasury secretary Henry Rotich since April 2018, the creation of the Kenya Mortgage Refinance Co (KMRC) was ... Mortgage market update 6-21 Atlanta Agent magazine ... from the previous week, according to the Mortgage Bankers Association, which was perhaps unsurprising considering the earlier report's record-high levels. Guild partners with Airbnb, unveils new mortgage option Mortgage Professional America Guild Mortgage has partnered with Airbnb to launch a new refinancing option for all Airbnb hosts in the US. Guild's new refinancing option accepts short-term ... New Freddie Mac Mortgage Combines Purchase and Reno Loans National Mortgage Professional Magazine Freddie Mac has introduced the CHOICERenovation loan, which is designed for homebuyers seeking to purchase a home and finance the cost of renovations ... Freddie Mac announces fixer-upper mortgage | 2019-06-19 HousingWire Freddie Mac is launching a new mortgage product that allows borrowers to buy a fixer-upper and finance the renovation all with one loan. Existing homeowners ... FHA loans to the rescue | Peter Boutell, Lending a Hand Santa Cruz Sentinel An FHA loan may be the only path to homeownership for some prospective homebuyers. Federal Housing Administration (FHA) loans have been around since ... Freddie Mac Launches New Home Renovation Program Mortgageorb Freddie Mac has launched a new home renovation loan program that allows home buyers to also finance the cost of renovations with a single-close mortgage. Blackstone refinancing shopping-center loan debt via $230M CMBS Asset Securitization Report Blackstone's real estate affiliate and property management firm SITE Centers Corp. acquired the 12 centers across seven states in 2014. New Digital Divide: People who trust their lives to algorithms vs. those who opt out Milwaukee Independent Every aspect of life can be guided by artificial intelligence algorithms – from choosing what route to take for your morning commute, to deciding whom to take on ... Mortgages for Seniors: Everything You Need to Know U.S News & World Report Money If you're retired and applying for a home loan, you're more likely to submit information about your pension and your 401(K) than a W-2. Mortgage Refinancings Poised to Speed Up, Challenging Traders Bloomberg Mortgage-backed security investors will have to deal with higher prepayment speeds by the end of summer as the rate rally filters through to borrowers. Benchmark mortgage rate increases for Wednesday Bankrate.com Mortgage rates moved in different directions today, but one key rate rose. The average for a 30-year fixed-rate mortgage saw an increase, but the average rate ... Cuyahoga County to Sell, Refinance Bonds for Rocket Mortgage FieldHouse Repairs Arena Digest By refinancing previous bonds and issuing new bonds, Cuyahoga County will cover repairs at Cleveland's Rocket Mortgage FieldHouse. The majority of consumers are wildly wrong about what it takes to get a mortgage CNBC The majority of consumers think it is much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3000 ... Fintech algorithms discriminate 40% less than traditional lenders Quartz Algorithmic fintech lending is less discriminatory against minorities than traditional loan officers, according to a recent study of US mortgages. The findings signal ... 'Now Is The Time To Refinance': Low Mortgage Rates Cause Surge In Refinancing Forbes Last week's massive dip in mortgage rates apparently pushed homeowners into action. According to new data from the Mortgage Bankers Association, ... Freddie Mac: Low Mortgage Rates, Strong Labor Market to Boost Home Sales Mortgageorb Low mortgage rates along with a strong labor market will help boost home sales and origination volume over the next year and a half, Freddie Mac's most recent ... With mortgage rates at 2-year lows, here’s how to decide whether to refinance your home loan MarketWatch More people are pursuing refinances as mortgage rates have dropped. Serving an Untapped Borrower Community Mortgageorb BLOG VIEW: In today's tight purchase market, Veterans Affairs (VA) renovation loans can deliver a double, bottom-line benefit to lenders. *Service* members ... Demand for mortgages soar amid the recent drop in rates ETF Daily News The mortgage application numbers this week just put an exclamation point on an already positive trend for mortgage lenders. Read on for more details. Just Approved: Divorcee refinances, removes ex from mortgage and lowers her monthly bills San Francisco Chronicle Mortgage adviser: Brenda Wyatt. Property type: Single-family home in Lakeshore Terrace. Loan type: Conventional refinance. Purchase price: $670000. Refinance mortgage rate ticks higher for Monday Bankrate.com Refinance rates were mixed, but one key rate notched higher. See what that means for you if you're in the market for a home loan. Mortgage refinance boom goes bust as rates shift higher CNBC A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. HSBC Bank USA Launches New Digital Mortgage Solution with Roostify Yahoo Finance HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, one of the world's largest banking and financial services organizations, today announced that it has ... Refinance mortgage rate advances for Saturday Bankrate.com Refinance rates were mixed, but one key rate floated higher. If you're shopping for a home loan, see what that means for you. Home equity rises again — except in these two states | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports House price growth may be slowing down, but American homeowners still have something to celebrate. According to new data, they've gained more than $485 ... Plunging Mortgage Rates Could Drive Top Homebuilders Much Higher This Summer 24/7 Wall St. We screened our 24/7 Wall St. research database looking for Buy ratings from Wall Street on the top homebuilders and found five companies that look like solid ... Mortgage refinancing spree becomes a race against the clock Bankrate.com Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ... Top 12 reasons more people are using personal loans | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Personal loans are popular for many reasons. But the fact you can use the money for any purpose is one of them. So what are the top 12 reasons people are ... Here Are Best And Worst Reasons To Refinance Your Mortgage Bankrate.com Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ... Lender sentiment turns positive as low rates spur demand Atlanta Agent magazine The trend toward lower mortgage rates doesn't appear to be a short-lived phenomenon, and has already boosted loan application activity to historically high ... Mortgage rates are low. Here's how to figure out if you should refinance NBC News Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage. 5 Signs It's Time To Refinance Your Mortgage Forbes You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ... Refinance mortgage rates mixed for Monday Bankrate.com Refinance rates were mixed today. If you haven't locked a refi yet, see how your future mortgage payments could be affected. Refinance mortgage rate dips for Saturday Bankrate.com Refinance rates were mixed, but one key rate declined. See what that means for you if you're in the market for a home loan. Freddie Mac intros CHOICERenovation loan to fund renovations and fixer-uppers - RealtyBizNews: Real Estate News RealtyBizNews Freddie Mac has just announced a new mortgage offering aimed at those looking to finance fixer-uppers. The offering is also available to existing homeowners. Real Estate Briefs | Business Charleston Post Courier Mortgage Applications Increase in Latest MBA Weekly Survey. Refinance mortgage rates mixed for Thursday Bankrate.com Multiple benchmark refinance rates were flat today. If you're in the market for a mortgage, see how your payments might be affected. These stocks — including Home Depot and Verizon — are big winners when rates drop CNBC CNBC analysis using Kensho found that Disney, Verizon and Home Depot were some of the best performing Dow stocks in declining-rate environments. Refinance mortgage rate drops for Friday Bankrate.com Refinance rates were mixed, but one key rate ticked downward. If you're shopping for a refi, see how your future mortgage payments could be affected. Refinance mortgage rate slides for Wednesday Bankrate.com Refinance rates were mixed, but one key rate declined. If you're in the market for a mortgage, see what that means for you. What to consider before determining whether to refinance your mortgage Washington Post REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ... Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ... Refinance mortgage rates mixed for Saturday Bankrate.com Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.
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