How to Shop for Home Insurance

Home insurance is necessary to protect you in the face of disaster. Just because it’s necessary doesn’t mean you have to overspend on it, though. In fact, you should make it a habit to shop your homeowner’s insurance every year. This way you know you are getting the...

Tips for Successful Refinancing

One of the most important tips to know when you decide to refinanceis: “never rush.” A lot of people end up paying more than they should or not getting what they originally intended to have with their re-mortgage because of inadequate planning, or going over the...

The Difference Between Conforming and Non-conforming Mortgage Loans

As you shop for a mortgage, you’ll likely hear the terms conforming and non-conforming thrown around. It’s important that you understand these terms and figure out how you fit into them in order to determine which loan is right for you.Compare Offers from Several...

How to Properly Write a Letter of Explanation for a Mortgage

If everything on your mortgage application isn’t textbook material, it’s fairly certain that you’ll receive a request for a Letter of Explanation. Just what is this letter and how do you write it?Keep reading to learn the specifics you must know in order to get the...

Things to Know Before You Buy a Home in a Flood Zone

Before you can close on a mortgage, your lender will need to know a few things about your home. The most important is the value. They cannot lend you money if the value of the home isn’t high enough. Second most important, however, is if the home is in a flood zone....

Good News: Updated Policy On Reconstructed Mortgage Loans

Fannie Mae has new rules that could help you catch up on your mortgage payments.It is important to note the difference between restructuring and refinancing to understand what the updated policy means for you.Loan restructuring, also known as loan modification changes...

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Freddie Mac: Brexit Drives Rates Down, Refi Up

Brexit has played a major role in lowering mortgage rates, which is expected to boost U.S. housing activity particularly refinancing, Freddie Mac said in an outlook for the month of July.On July 12, the government-sponsored enterprise released its monthly outlook,...

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Mortgage Rates Rise So Do Mortgage Applications

With the rise of mortgage rates comes a higher volume of mortgage applications, latest weekly surveys made separately by Freddie Mac and the Mortgage Bankers Association confirmed. On the mortgage rate side, the 30-year fixed mortgage rate increased for the first time...

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Does The Lender Pull Credit On The Day Of Your Closing?

You received your mortgage approval, you figure everything is good to go and you are free to do with your finances as you wish, right? Unfortunately, this can hurt you in the end. Lenders have gotten smarter with their ways, especially after the housing crisis. Now,...

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