Tag: mortgage

VA Loan Benefits
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VA Loan Benefits

A VA loan is a special loan that is available to all Unites States Military Veterans. These loans are back by the Department of Veteran Affairs and have a variety of benefits. Benefits One of the most noticeable benefits of a VA loan is that there is no down payment required. Other loans such as...

Refinancing Your Current Mortgage
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Refinancing Your Current Mortgage

What is Refinancing? Refinancing is the process of paying off your original mortgage and replacing it with a new one. Your financial situation now may be different from what it was when your first mortgage was originated. Because you’ve already obtained a prior mortgage, refinancing tends to be a much smoother process with far less...

Home Buying Help: What is Escrow?
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Home Buying Help: What is Escrow?

Buying a home is often the biggest purchase you make in your life. With all that money on the line, buyers and sellers AND lenders need a safe and secure way to make the transaction. In order to make sure the home sale and mortgage funds transfer take place properly, your lender will open an...

What Are Closing Costs?
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What Are Closing Costs?

When you sit down to sign the papers to buy a home, you will most likely be required to pay closing costs. Mortgage closing costs are the fees associated with the home buying and lending process. What is included in my closing costs? The types of closing cost fees can vary based on region, property...

Mortgage Rates Step Back
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Mortgage Rates Step Back

MCLEAN, Va., Aug. 16, 2018 (GLOBE NEWSWIRE) — Freddie Mac(OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates decreased slightly for the second consecutive week. Sam Khater, Freddie Mac’s chief economist, says mortgage rates remained mostly flat over the past week, which has been the dominant theme...

The Top 4 Reasons You Should Get a VA Loan
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The Top 4 Reasons You Should Get a VA Loan

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the...

Can I Qualify for an FHA Loan?
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Can I Qualify for an FHA Loan?

FHA loans (those sponsored by the Federal Housing Administration) are mortgages that allow low down payments and have relaxed credit score requirements, making them very popular with first-time homebuyers and those with less-than-perfect credit. If you think an FHA loan might fit your needs, the first step is to determine if you can qualify. Here...

Should I Pay Mortgage Points?
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Should I Pay Mortgage Points?

If you are buying a home or refinancing, you have probably heard about “mortgage points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick...