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Lending / Financial

Buying real estate is even more challenging for those of us whose eyes glaze over at the mere mention of decimals, percentages or anything else that even hints of mathematics.


The financial aspect of purchasing the largest investment of your lifetime, though, is the most important. Nobody wants to lose money. Nobody wants to leave money on the table.


If you're in the market for information on mortgages, credit scores and interest rates, you've come to the right place. The financial and mortgage pros here at ActiveRain even tell you how to shop for and compare lenders, how to raise your credit score, how to get a mortgage after a short sale or foreclosure and how to get pre-approved for a mortgage loan. Even Mom and Dad can't give the great advice you'll find here at ActiveRain.


Plan to spend some time here because ActiveRain's content library is massive. Lucky for you we've arranged it so that it's über user-friendly. You'll be amazed at how easy it is to put your finger on just the information you're looking for without having to surf a million other pages.

Recent blogs on Lending / Financial
By Leanne Smith, The Grit and Gratitude Agent
(Dirt Road Real Estate)
Honest people are honest people and hence why they continue to be victims of wire fraud. Currently during the first quarter of 2024, 1 out of 10 real estate transactions encountered wire fraud. Additionally, nearly half or 48% of the loans processed ($65 billion) were vulnerable to both wire and title fraud. (Source: Funding Shield)And the news continues to trend toward the negative side with wire fraud issues increasing over each quarter.Please as sellers and buyers follow the wire fraud advisory given by your title firm, your lender and your real estate agents if they are involved.Dirt Road Real Estate does not handle any funds. However, as a licensed local professional real estate agent, I do include a Wire Fraud Advisory in all my presentation packets. Additionally, the local title ...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
The Consumer Price Index (CPI) is showing higher than expected inflation, and the Producer Price Index (PPI) is showing lower than expected inflation. The two are in conflict with each other; however, the Consumer Price Index is still the far greater indicator for inflation as it directly impacts the cost of living for everyone, not just production assets. Given the Federal Reserve’s recent speeches it would seem that there is very likely to be a delay in the rate cuts this upcoming quarter. They have stated numerous times they are driven largely by data and that data has proven that inflation is still not as quite under control as they had anticipated moving into Quarter 2. Lending partners have been responding in kind to the news as they have had strong rate increases across the board...
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By Laura Sellers, www.AuburnOpelikaALRealEstate.com
(Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com)
Boost Your Home Buying Fund with HYSAsLearn about the secrets to fast-tracking your down payment for a mortgage. Discover smart strategies, explore the impact of inflation, and delve into the realm of high-yield savings accounts for enhanced financial growth.As a first-time homebuyer, you may be racking your brains trying to figure out how to make more money quickly for a down payment to qualify for a mortgage loan. You need to have cash tucked away that’s hopefully building interest, yet it also needs to be accessible in case the right home comes along and you need to act fast.Thanks to low interest rates for over a decade (that disappeared with the rise in inflation after the pandemic), it’s been easy to put savings accounts out of your mind. Who cares about a yield of .03%? But as in...
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By Michael Elliott, Burlington, New Jersey Residential Sales
(Fathom Realty)
No one likes paying taxes.   Most people don't like to even discuss the process of filing their return.   While I don't like it either, I have become much more organized, which is paramount when you are an independent contractor.  These are my suggestions from what I have leaned, somewhat painfully over the years:1.  Hire a tax pro.   Yeah, you're great with math.   And yeah, you are super smart.  I'd be willing to bet that the cost you are saving would be more than covered with the deductions a tax pro would "find".2.  Learn the allowable deductions, then save receipts for everything!  Medical, home office, business meetings, lunches, whatever.   I mean, if you mail your tax return in, save the postage receipt.  If the IRS is going to tax you like crazy,  save your allowable deduction ...
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By Joseph Lorenzo, Your Law And Order Realtor
(Frank Rubi Real Estate LLC)
Hey there, fellow real estate aficionados! Welcome back to another uproarious edition of "The Real Deal with Joe Lorenzo," where we mix real estate wisdom with a generous dose of humor and charm. Today, we're diving deep into the world of pre-approval. Get ready to laugh, learn, and maybe even gain some insight into this essential aspect of the homebuying process!So, what in the world is pre-approval, you ask? Well, imagine you're at a fancy restaurant, eyeing up the mouthwatering menu. You know you want to indulge in that decadent dessert, but before you can dig in, you've got to get the green light from your waistline (or your conscience, if you're feeling virtuous). That, my friends, is the pre-approval process - it's like getting the thumbs-up to treat yourself to that dream home!In...
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By Laura Sellers, www.AuburnOpelikaALRealEstate.com
(Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com)
Should You Tap into Your Home Equity?Uncover the potential risks and rewards of tapping into your home equity. From understanding the best times to use your equity, to the pitfalls of other borrowing methods, it’s a nuanced exploration of financial decisions that shape homeownership. When you put 20% down on a home using a mortgage loan, you own 20% and the lender owns 80%. As you make payments, most of the money goes to pay interest while some goes toward reducing your principal. Meanwhile, favorable market conditions may be increasing the market value of your home, giving you instant equity. Equity is the amount of the home that you own, much like a savings account that pays interest on money you want to keep growing. After a few years, you may want to tap into that money to carry out...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
Inspirational topic! Savings are a crucial step toward achieving financial freedom. This blog likely offers insights and strategies for saving effectively to reach your goals. Looking forward to learning more about unlocking financial freedom through savings!Have a super fantastic week!Joe Jackson, Realtor-KWCP In times of inflation, it’s crucial to come up with a more solid saving plan to counter the decreasing spending power of money we keep experiencing day by day. Generating additional income can be tricky when the interest rates on savings fail to match the inflation rate. Navigating the money market in times of inflation is not always so simple. Still, it is possible to thrive in the current economic conditions too, but adjustments must be made to our strategies. It has never been...
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By Theresa Hus, The Official Real Estate Agent Directory
(RealEstateAgent.com)
In times of inflation, it’s crucial to come up with a more solid saving plan to counter the decreasing spending power of money we keep experiencing day by day. Generating additional income can be tricky when the interest rates on savings fail to match the inflation rate. Navigating the money market in times of inflation is not always so simple. Still, it is possible to thrive in the current economic conditions too, but adjustments must be made to our strategies. It has never been so important to stay informed about changes. Understanding interest rates and investment opportunities can help you decide which option is best for your short-term goals and make decisions that will have a return on the investment.   This article will uncover effective strategies for optimizing your savings and...
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By Keith Dean, Fast Cash Offers
(Digital Bullet)
This article will explore the benefits of passive income, why you should use a passive income investment calculator, and how it can help you achieve your financial goals. Are you looking to secure your financial future and create a steady stream of income that doesn't require constant effort? Passive income may be the solution for you. But what exactly is passive income, and how does it differ from active income? With Money Ripples' expertise in financial consulting, we will guide you through the effective use of the passive income calculator to harness your assets and plan for a comfortable retirement. Key Takeaways: Understand the difference between active and passive income to build a solid financial foundation. Gain clarity and make informed decisions using a passive income calculat...
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By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
We all use this term "Pre-Approved" But some Mortgage people use it with out actually doing the work that should go into a "Pre-Approval" Read Below to get a good insite into this!!! Original content by Lenn Harley 303829;0225082372 What's the most over-used term in the land of real estate sales?? PRE-APPROVED!!!What's the term most used by home buyers in real estate transactions?I UNDERSTAND!!! Shucks.  If a home buyer can be Pre-Approved, why not issue a LOAN COMMITTMENT letter??? That would at least identify the price of the house, interest rate and length of the commitment. What most home buyer/borrowers don't usually understand is the conditions identified in that Pre-Approval, if they are, in fact listed. A Pre-Approval letter is quite worthless unless it lists those items requir...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
With the upcoming CPI and PPI reports this week, last week still had a number of important data points to consider. First, the non-farm payroll data, helping reveal the situation of pay versus inflation data giving an overall description of the state of the economy in the future. Among that, the manufacturing data has shown to be contracting the past year, with the first signs of relief this month. Lastly, trade data has shown that the trade deficit has grown bigger than expected with Q1 coming to completion. All of these are broader indicators of the state of the economy and the most important data is to come this week, as inflation data will firmly decide when and where rates may be cut in the future. It appears to be becoming increasingly unlikely we will see a rate cut decision by t...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Did you know a temporary buydown could reduce your client's mortgage interest rate? A temporary buydown is a lump sum paid by the builder or seller to reduce the mortgage interest rate for the first 1, 2 or 3 years. Since the buydown lowers the interest rate, it will effectively reduce the overall monthly mortgage payment for the first few years of their mortgage.However, when the buydown period ends, the rate returns to the initial fixed rate. I can walk you through this and other strategies to make homeownership more affordable for your clients. Contact me to learn more.Unlocking Homeownership: Understanding Mortgage BuydownsIn the vast landscape of real estate transactions, one term that often arises but remains mystified to many is "mortgage buydown." For those navigating the labyri...
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Introduction to Mini GPS TrackersAre you tired of constantly misplacing your valuables or worried about the safety of your loved ones? Look no further than mini GPS trackers! These compact devices offer a world of possibilities, from tracking luggage during travel to ensuring the well-being of children and pets. In this ultimate guide, we'll explore everything you need to know to choose the Best Mini GPS tracker for your specific needs. Let's dive in and discover how these little gadgets can make a big difference in your life!Common Uses for Mini GPS TrackersMini GPS trackers are versatile devices that can be used for a variety of purposes. One common use is tracking your valuable possessions such as cars, bikes, or luggage. By attaching a mini GPS tracker to your belongings, you can ea...
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Embarking on a long-distance move presents both challenges and opportunities, whether it's for a new job, to be closer to family, or for a change of scenery. This guide aims to demystify the process, offering actionable advice and insights to ensure a successful transition. Recognizing the unique aspects of long-distance moves, from logistics to settling into a new environment, is essential before diving into the moving process. Partnering with a competent moving service, like AVL, can ease the burden. They address the logistical concerns while you focus on the emotional and psychological preparation for your move. Key Takeaways Long-distance moving is a complex process that requires thorough planning and preparation. Choosing a trustworthy moving company like AVL is essential for a smo...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
               Latest rates, based on 20 percent down, $200,000 owner-occupant mortgages. The rates and terms may vary; check with lenders for details. Rates may have changed click here to verifyWednesday, April 3, 2024  Lender Term/Type Interest Rate % Points % *APR American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.625 1.875 6.050 30-YR Fixed 6.375 1.875 6.643 5-YR ARM 6.000 2.000 7.436 Bank of Hawaii877-616-2636 15-YR Fixed 6.125 1.000 6.283 30-YR Fixed 6.375 1.875 6.557 5-YR ARM 6.250 1.000 7.399 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 5.625 1.875 6.059 30-YR Fixed 6.250 2.125 6.546 5-YR ARM 6.875 0.000 7.798 Finance Factors808-548-3300NMLS#449916 15-YR Fixed 5.750 2.000 6.298 30-YR Fixed 6.375 2.250 6.742 5-YR ARM 6.375 1.500 7.656 First Hawaiian Bank808-643...
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In today's dynamic market, selling a diamond ring can be a daunting task. Whether you're looking to upgrade to a new piece, liquidate assets, or simply part ways with a sentimental item, understanding the best strategies for selling your diamond ring is crucial. From evaluating your diamond's worth to choosing the right platform for sale, this comprehensive guide will walk you through the process step by step, ensuring you get the best value for your precious gem. Understanding Your DiamondBefore diving into the selling process, it's essential to understand the key factors that influence your diamond's value. Diamonds are evaluated based on the four Cs: cut, color, clarity, and carat weight. Familiarize yourself with these aspects to accurately assess your diamond's worth. Additionally,...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
As expected from the prior inflation reports with CPI and PPI, the PCE index had also shown the same corollary among its data points, reporting a higher than expected increase for the month of February across all products.In addition, the Chicago PMI had shown a declining trend of activity among businesses for the 6th week in a row. All this points to that there might be a case for the Federal Reserve to continue holding rates in the next rate decision coming up in the summer of 2024. There has been much speculation that the Federal Reserve will begin cutting rates at this time; however this is evidence of the contrary.Consumer Sentiment ReportsThe numbers: The final reading of consumer sentiment in March rose to a 32-month high, as Americans expressed more confidence that inflation wou...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
Whether you're a first-time homebuyer or a seasoned homeowner considering a refinance, the term "escrow account" often looms as a source of confusion. Yet, understanding the ins and outs of escrow accounts is crucial for managing your homeownership responsibilities effectively. In this article, we'll address some common questions and concerns regarding escrow accounts to shed light on their importance and functionality.What is an Escrow Account?Escrow accounts, sometimes referred to as "impound" accounts, serve as a financial mechanism to facilitate the payment of property taxes and homeowner's insurance. Typically, lenders require homeowners to contribute a portion of these expenses upfront, which is then deposited into the escrow account for disbursement.Who Controls Escrow Accounts?L...
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By Bob Elliot, 30+ Yrs Industry Experience
(eXp Realty)
While it’s not a set deal, the Federal Reserve does appear to be on track for a June rate cut, and following its two-day policy meeting, the central bank’s rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5% until then. Additionally, the government has also avoided another shut down as a series of rushed bills had approved spending for the government by another 1.2 trillion dollars. This is good news for lending markets as the debt ceiling has previously tied up rate decisions in the past.FOMC Rate DecisionFederal Open Market Committee has stated it will maintain the current interest rate for central banks and will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5%.Existing Home SalesThe...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
In Pensacola, Florida, the average long-term U.S. mortgage rate has risen for the fourth consecutive week, presenting another setback for prospective homebuyers just as the spring homebuying season kicks off.According to mortgage buyer Freddie Mac, the average rate on a 30-year mortgage increased to 6.94% from 6.90% last week. A year ago, the rate averaged 6.65%. Currently, the average rate sits just below its peak since mid-December, when it reached 6.95%.As mortgage rates climb, they can significantly raise monthly costs for borrowers, limiting their purchasing power in a market that's already beyond the reach of many Americans. Moreover, they discourage homeowners who secured low rates two or three years ago from putting their homes on the market.In recent weeks, rates have been cree...
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