Category Archives: Mortgage Interest Rates

The Advantage of Getting Pre-approved

One of the best things you can do to ensure you get the home you want is to arrange for financing before you go shopping. This is often referred to as getting “pre-approved”. Getting pre-approved simply means that your lender has calculated how much of a mortgage they’re willing to offer you, depending on your […]

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Mortgage Budgeting 101: How to Determine What You Can and Can’t Afford

When taking on a new mortgage, it is important to know that you can afford to carry the debt load involved, as many people find themselves in financial trouble by spending more on real estate than they can comfortably maintain. Your mortgage budget can be calculated to determine just how much you should spend on […]

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10 Commandments of Lending For Borrowers

Thou shalt not change jobs, become self employed or quit your job. Thou shalt not buy a car, truck or van (or you may be living it)!! Thou shalt not use credit cards excessively or let current accounts fall behind. Thou shalt not spend money you have set aside for closing. Thou shalt not omit […]

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Understanding Your Credit Score And How It Impacts Your Home Ownership Prospects

Understanding your credit score and how it impacts your home ownership prospects your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans. The score itself is a numerical reflection of your credit history. It gives lenders a way to discern your reliability […]

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How Pre-Qualifying Helps You Find the Right Home

Too often, home buyers are disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them. One of these options is to ensure you obtain a pre-qualification from […]

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Fannie Mae And Freddie Mac, How They Impact Real Estate

Fannie Mae and Freddie Mac have been in the news quite a bit over the past few years, so it’s a good time to do a refresher on who they are and what role they play in the real estate market. Who Are Fannie Mae And Freddie Mac? Fannie Mae is the Federal National Mortgage […]

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Highest Existing Home Sales Since February 2007

Sales of existing homes reached their highest volume in almost six years in August. The National Association of REALTORS reported Thursday that sales of existing homes rose 1.70 percent in August to a seasonally-adjusted annual rate of 5.48 million existing homes sold. This was the highest number of existing home sales since February of 2007. […]

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Reasons To Think Twice Before Paying Off Your Mortgage Too Quickly

Most of the financial advice out there is focused on how you can pay off the mortgage on your home as quickly as possible, from making lump sum payments to switching to bi-weekly payments rather than monthly. However, there are a few things that you might want to consider before you put all of your […]

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Is It Possible That Your Gender May Influence Your Home Mortgage Approval?

If you are applying for a joint mortgage on your property with your spouse or partner, the name that goes first could have more of an impact than you might think. A 2010 study by the Woodstock Institute showed that mortgage lenders were inclined to show favoritism when men were the lead borrowers on joint […]

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Mortgage Rates for the week of: October 29, 2012

Mortgage markets ended the week slightly better last week. Wall Street took its cues from U.S. economic data, from developments in Europe, and from the Federal Reserve, moving mortgage rates lower in Idaho and nationwide. Pricing for both conforming and FHA mortgage rates improved between Monday and Friday, with the majority of gains occurring late […]

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