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 Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP One of the first things I did as a first-time buyer was to go to the ebook store and purchase a mortgage interest rate book so I could figure out the monthly principal and interest charges on my potential note. We didn't have the internet as we do now where you can find all that information. But, let that go. We have watched average mortgage interest rates rise from the mid-2% to the mid-7% range (in Massachusetts). With rising prices and still high demand those rates could push some out of the market. BUT, do not fret. Markets go up and markets go down and interest rates do the same. We purchased our home in 1985 and paid over 13%. That took our breath away but ...
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By Doug Dawes, Your Personal Realtor®
(Keller Williams Evolution - 447 Boston Street Topsfield, MA)
One of the first things I did as a first-time buyer was to go to the ebook store and purchase a mortgage interest rate book so I could figure out the monthly principal and interest charges on my potential note. We didn't have the internet as we do now where you can find all that information. But, let that go.We have watched average mortgage interest rates rise from the mid-2% to the mid-7% range (in Massachusetts). With rising prices and still high demand those rates could push some out of the market. BUT, do not fret. Markets go up and markets go down and interest rates do the same. We purchased our home in 1985 and paid over 13%. That took our breath away but we knew enough that rates would come down and they did. We refinanced every 2% drop in rates and one time we dropped the number...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing.It’s easy to overlook the impact of some of these steps, but when it comes to a mortgage, the home appraisal is actually quite important. Banks want to see that they are lending money for an investment that is worthwhile, so that appraisal is a crucial step to getting financing. Here is what buyers need to know about how the appraisal could affect their mortgages.Understanding The Home Appraisal ProcessThe home appraisal gives a home valuation expert the chance to evaluate the home a buyer’s considering to determine its market ...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
This is an excellent post with great information. Thanks for sharing it.Have a super fantastic week!Joe Jackson, Realtor-KWCP The Home Mortgage Disclosure Act (HMDA), which has been in place for more than four decades, requires mortgage lenders to report information about their lending practices. Yes, it’s a behind-the-scenes, business thing. But it can be a good resource for consumers and borrowers, too. Let’s dive into the HMDA, why it’s important and how you can access HMDA data online. What is the Home Mortgage Disclosure Act (HMDA)? The Home Mortgage Disclosure Act (HMDA) is a federal law passed in 1975 that requires mortgage lenders to collect and report loan-level data points about their portfolios and practices. HMDA allows regulators and the public to determine whether lenders ...
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
The Home Mortgage Disclosure Act (HMDA), which has been in place for more than four decades, requires mortgage lenders to report information about their lending practices.Yes, it’s a behind-the-scenes, business thing. But it can be a good resource for consumers and borrowers, too. Let’s dive into the HMDA, why it’s important and how you can access HMDA data online.What is the Home Mortgage Disclosure Act (HMDA)?The Home Mortgage Disclosure Act (HMDA) is a federal law passed in 1975 that requires mortgage lenders to collect and report loan-level data points about their portfolios and practices.HMDA allows regulators and the public to determine whether lenders are serving the housing needs of their communities in an equitable manner. The law also aims to identify lending patterns that cou...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices on home prices, reports on U.S. jobs growth, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released.  S&P Case-Shiller: Limited Supply of Available Homes Boosts Prices in MarchLimited supplies of homes for sale drove home prices up in March. Home prices rose by 0.40 percent month-to-month as compared to 0.70 percent year-over-year. Cities with the highest rates of home price growth were Miami, Florida, where home prices rose 7.70 percent year-over-year, Tampa, Florida with a year-over-year pace of  4.80 percent home price growth, and Charlotte, North Carolina, where home prices rose by 4.70 percent year-over-year.High mortgage rates impacted both...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
  Even economists stumble when it comes to mortgage-rate predictions, but little should change. Lenders expected Wednesday’s increase and already baked it into current rates. NEW YORK – Wednesday’s interest-rate increase by the Federal Reserve has likely already been priced into current mortgage rates, suggesting little will change based, at least, on Fed decisions. Economists say the mortgage market expected Wednesday’s quarter-point rate increase and largely absorbed it and already expected a pause in Fed rate increases over the coming months. Click Here To Read More And Share What Is My Homes Value   Thinking of selling, YOU PAY US $2995. Flat Fee and 2.5% to the agent or agents selling your home,  and that is it.Not the average 6 or 7% charged by others, saving the average homeowne...
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By Manfred Lewis Leslie Horne & Associates, Realtor Spartanburg and Greenville SC
(Leslie Horne &Associates )
If you're ready to build generational wealth through real estate, send me a message! There's no greater satisfaction than knowing you're contributing to financial security for you and your family for years to come.#realestate #realestateagent #listreports #buying #selling #realestateexpert #homeowner #dreamhome #homeownership #homebuying #homesearch #buyingahome #financehub
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By Jackie A. Graves, President
(ChangeMyRate.com® A Mortgage Corporation)
Mortgage rates have been on a wild tear recently, reaching 20-year highs topping 7% near the end of last year and bouncing around unpredictably ever since. And since even slight fluctuations in rates end up costing homebuyers hundreds of dollars a month, it’s understandable that many are paralyzed by indecision—should we buy or wait for rates to drop?—or else scrambling for any advice on how to stay ahead of the curve and keep their costs in check.To help, we’ve compiled a few tactics we’ve heard from real estate experts and homebuyers on how to outsmart the turbulent tides of rising rates.While some methods might strike some as unconventional, you may find that they’re becoming increasingly common in today’s unpredictable real estate market. If you’re tired of taking a wait-and-see sta...
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By Jigar Shah, Product Manager (Prop-Tech) at Houzeo Corp.
(Houzeo Corp.)
When it comes to purchasing a home, many aspiring homeowners find themselves navigating through a complex world of mortgage terminologies. One such term is PMI or Private Mortgage Insurance. Understanding PMI and its importance is crucial for homeowners, as it can significantly impact the overall cost and accessibility of owning a home. In this blog, we will delve into the What is PMI? its purpose, and the benefits it offers to homeowners.What is PMI?Private Mortgage Insurance (PMI) is an insurance policy designed to protect lenders in case borrowers default on their mortgage payments. Typically, PMI is required when a homebuyer makes a down payment of less than 20% of the purchase price or appraised value of the property. This insurance policy safeguards lenders by mitigating the risk ...
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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, May 31, 2023  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 5.375 1.875 5.845 30-YR Fixed 6.000 1.625 6.264 5-YR ARM 5.125 0.625 5.281 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 5.500 2.000 5.942 30-YR Fixed 6.250 1.875 6.515 5-YR ARM 5.750 1.750 7.165 Bank of Hawaii877-616-2636 15-YR Fixed 5.750 1.625 6.005 30-YR Fixed 6.375 1.375 6.508 5-YR ARM 5.625 1.625 6.916 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 5.625 1.750 6.039 30-YR Fixed 6.125 1.750 6.381 5-YR ARM 6.500 0.000 7.209 Finance ...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
March readings for the S&P Case-Shiller National Home Price Index showed that month-to-month home prices rose by 0.40 percent in March. The 20-City Home Price Index, which is considered a benchmark indicator by U.S. real estate professionals, rose by 0.50 percent month-to-month in March but posted a negative reading of -1.10 percent year-over-year. Analysts said that the slim supply of homes for sale drove up prices as demand for homes exceeded available inventory.Homeowners took a “wait and see” position as mortgage rates rose and concerns over the economy persisted. Those who refinanced their mortgages to low rates during the pandemic weren’t looking to buy new homes or refinance at current mortgage rates near seven percent. Prospective homebuyers faced affordability challenges and co...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
When you apply for a new mortgage, the lender will evaluate your creditworthiness to determine whether to approve your application and what terms and interest rate to offer you. Your existing debt can affect your creditworthiness in several ways: Debt-to-income ratio (DTI): Your DTI ratio is the percentage of your monthly income that goes towards paying off debt. Lenders typically want to see a DTI ratio of 43% or less, meaning your debt payments don't exceed 43% of your gross monthly income. If your existing debt is high, your DTI ratio will be high, and lenders may view you as a riskier borrower. This can make it more difficult to qualify for a new mortgage or result in a higher interest rate.Credit score: Your credit score is a numerical representation of your creditworthiness, based...
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By The Lending Times
(The Lending Times)
This content comes from real estate investment lender Global Integrity Finance.Here is an excerpt:Why Long-term Rental Financing Can Help Your Investment Portfolio If you’re looking for a great way to maximize your profits and investment on a rental property, look no further than Global Integrity Finance’s 30-year fixed-rate long-term rental loans.When you set out to buy a rental property, there are many things you want to see happen. You’ll want to make sure you buy using a buy-and-hold strategy, make money from the monthly rental income, and see your property turn in extra profits when you sell it. You’ll need to find the right investment loan to get your property scheme off the ground.Buying rental properties takes a little experience and almost no work on your part if you hire a pro...
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By Anna Chroscicki, Realtor - St. Lucie County affordable Real Estate
(Re/Max Masterpiece Realty)
Anna Chroscicki with RE/MAX Masterpiece RealtyCall me at 772-485-4188 with any Real Estate Questions. Web-site:www.annasellsrealestate.com1775 SW Gatlin Blvd Ste 101, PSL, FL, 34953
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By Stephen Fells, Marketing, Technology, Fun and News!
(AgencyLogic)
Source: Statista Mortgage rates in the United States remain at their highest level since 2008, as they climbed for the second consecutive week amid debt ceiling concerns. According to Freddie Mac, the average rate for a 30-year fixed mortgage increased to 6.57 percent in the week ended May 25, up from 6.39 percent the week before. Along with the Fed's aggressive rate hikes, mortgage rates have climbed by more than 3 percentage points since the beginning of 2022, threatening to push more and more potential buyers out of the market, especially as high rents and other costs of living make it increasingly difficult to save for a significant down payment. "These numbers are a cruel twist given they arrive just as home prices seem to be drifting back down to earth," Andrea Riquier from Realto...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Mortgage points, also known as discount points or origination points, are fees paid by borrowers at closing to reduce the interest rate on their mortgage loan. Each point typically costs 1% of the total loan amount and can lower the interest rate by anywhere from 0.125% to 0.25%.There are two types of mortgage points: discount points and origination points. Discount points are used to buy down the interest rate on the loan, while origination points are used to cover the lender's administrative costs.Borrowers may choose to pay mortgage points in order to lower their monthly mortgage payments or to reduce the overall amount of interest paid over the life of the loan. However, paying points may not always be the best financial decision, as it depends on factors such as the borrower's fina...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
By Marilyn Kennedy Melia New homeowners who “married the house but dated the rate” are tired of dating, and a surge in refinancing is expected if rates drop a full 1%. NEW YORK – Today’s buyers may love their homes but hate their mortgages. However, for the foreseeable future, rates may very well stay higher than the 3% to 4% loans that made home-buying more affordable through much of 2020 to 2022, notes Doug Duncan, chief economist at mortgage agency Fannie Mae. But rates may dip enough to make it advantageous for recent buyers to refinance that 6-7% rate, says Duncan. He predicts just a 1% drop from owners’ current rate “will trigger significant refinancing.” Moreover, once the Federal Reserve inflation is under control, rates could likely settle in the 4.5% to 6% range. To entice ho...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
  If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know. Click Here to Continue Reading & Share  My Home own search!How to get a Mortgage and FREE Credit Report   We can help you relocate, find a job, and a daycare, and find great places to eat, shop, and play along the gulf coast. It all starts by clicking here. Put our over 28-plus years to work in your best interest. We are ambassadors to the Gulf Coast of Florida got a question email us or text us. Hello, Our family of licensed agents can show you ANY home on the market or many that may be Coming Soon. We would love to show you aroun...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic news included readings on new and pending home sales and inflation. The final monthly reading for May consumer sentiment was released along with weekly readings on mortgage rates and jobless claims. Shortage of previously-owned homes for sale directs buyers to new homesHomeowners weren’t in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates. Home buyers turned to new home developments as an alternative to shopping for a home within the slim supply of available previously-owned homes.The number of pending home sales was unchanged from March as compared to the expected readi...
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