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Mortgage and Lending - ChangeMyRate.com® A Mortgage Corporation - NMLS #1326269
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The closing disclosure is the last document you’ll receive before you close on your home loan. Review this detailed five-pager carefully to make sure all the numbers look correct before closing day.Key takeaways Closing disclosures are legally required and provide final details of your loan You w...
04/09/2023
Mistakes happen occasionally. But when they appear on your credit report and hurt your credit score, a mistake could make it harder to borrow money for a house, a car, or other purchases, as well as the overall cost of your home. Credit reports are also used to decide whether you can rent an apar...
04/06/2023
Buying your first home comes with costs and possibly stress, but there’s at least one potential silver lining. If you’re within income limits, you might be able to qualify for a mortgage credit certificate, also called a mortgage interest credit certificate or MCC.What is a mortgage credit certif...
04/04/2023
Do you need a mortgage pre-approval letter to make an offer on a house? You know you need to get your ducks in a row before looking at homes, but does that include securing a pre-approval letter from the bank?The truth is, getting pre-approved can actually improve your chances of falling into the...
04/25/2022
Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage balance so it’s important to be financially prepared for this expense.What are closing costs?Closing c...
04/24/2022
High home prices and mortgage rates are serving as a wake-up call to potential home buyers this spring that their budgets just aren’t going to go as far as they would have a year ago. In the first quarter of this year, 81% percent of consumers said they could afford less than half the homes for-s...
04/23/2022
Foreclosure starts and bank repossessions are at their highest numbers in the last two years. Most pandemic-initiated moratoriums have lifted by now and lenders are starting to resume foreclosures. Still, foreclosure activity remains well below historical levels.The number of properties with a fo...
04/22/2022
With this super-simple breakdown of loan types, you won’t get overwhelmed — you’ll find the right mortgage.When it comes to buying a house, most people know what they prefer: a bungalow or a condo, a hot neighborhood or a sleepy street.Mortgages, too, come in many styles — and recognizing which t...
04/21/2022
About half of homeowners with a mortgage have a rate under 4%. That is significantly below today’s rate of 5%.Such enticing rates could incentivize homeowners to stay put in their homes longer. They may not want to give up an ultra-low rate—many of whom may have snatched up a rate over recent yea...
04/20/2022
When applying for an FHA loan to buy a home, you’ll need more than just 3.5 percent of the purchase price as a down payment. As you budget, it’s important to make sure you factor in FHA closing costs, too. What are FHA closing costs?The closing costs on FHA loans are the fees charged by the mortg...
04/19/2022
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