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FHA Loans

An FHA mortgage is a loan that is backed and insured by the United States government. FHA stands for the Federal Housing Administration, which is a government agency that was created to raise the home-ownership levels in the United States back in 1934. FHA loans were put in place to allow more people to be…

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Fixed-Rate Mortgages vs. Adjustable-Rate Mortgages

Fixed-rate mortgages and adjustable-rate mortgages both have their pros and cons. Depending on the market, your financial stability, and what your looking for, either one can be a good option. In this blog we will describe the positives and negatives of each option. A fixed-rate mortgage means that the interest rate you close at will…

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5 Reasons to Refinance Your Home

1. To get a lower interest rate and lower payment: This is usually the main reason homeowners refinance their mortgage. When interest rates change, refinancing to a lower interest rate will lower your monthly payment and save you money in the long run. 2. Shorten the length of the loan: Refinancing can also be a…

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VA Loans

The VA Loan, which was established in 1944 by the GI Bill, assists veterans, active service members, and widowed military spouses in purchasing a home. VA loans are different from normal loans because they are guaranteed by the government, meaning that the government will repay part of the loan to the bank if you don’t…

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What is Home Equity and How Do You Use It?

What is home equity? Home equity is the current market value of your home minus what you owe on your mortgage. In other words, home equity is the portion of your property that you truly own. For example, if your home is worth $500,000, and you owe $350,000 on the mortgage, your equity is $150,000.…

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Mortgage Rate Locks

Mortgage rates have a high volatility, meaning they change frequently and unpredictably. For homebuyers this unpredictability can be troublesome. The solution for homebuyers who are worried about rates increasing before closing is a “mortgage rate lock.” A mortgage rate lock stops an interest rate on a mortgage from changing for a certain amount of time.…

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The Mortgage Loan Process Explained

The mortgage loan process can seem foreign and overwhelming to people especially if you are a first-time home buyer. The loan process is fairly straight forward but be prepared to hand over your financial information, other paperwork, and remember to try and be patient. This post will explain the mortgage loan process and the steps…

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Understanding HELOC’s

What is a HELOC and how exactly is it useful? Today we’re covering the basics of a home equity line of credit, so read on for more details and see if it can work for you. With a HELOC, you borrow against the available equity in your home and the house is used as collateral…

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Methods of Paying off Your Mortgage Early

For some, attempting to pay off your mortgage early may seem like a pipe dream. Though like with most things, every effort to make it happen gets you closer to reaching your goal. On our blog today: tips to pay off your mortgage early while reducing costs! Before considering any of the tips below, always…

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Kiddie Condos

Many of us are aware of the ludicrous prices for rental properties in college towns. Today, we’re offering a solution to those outrageous rental prices: Kiddie Condo Loans. The Kiddie Condo Loan is a program initiated and offered by the FHA. Kiddie Condos, which are not necessarily condos, are loans available to parents of young…

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