07 May 2024
By Mark Feder

Deciding Between 30-Year vs. 20-Year Mortgages: Which Is the Right Fit for You?

Mortgage Rates
Are you in the market for a new home? One of the most crucial decisions you'll face is choosing the right mortgage term. With options like 30-year and 20-year mortgages available, it's essential to weigh the pros and cons to make an informed decision that suits your financial goals. Let's discuss the debate of 30-year versus 20-year mortgages and explore which option might be better for you. The Case for a 30-Year Mortgage A 30-year mortgage is often the default choice for many homebuyers due to its lower monthly payments. By spreading the repayment period over three decades, borrowers can…
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29 Dec 2023
By Mark Feder

Mortgage Rate Locks: When and How to Secure the Best Rate

Mortgage Rates
Rate locks play a crucial role in the mortgage application process, helping borrowers secure a favorable interest rate for their home loan. Here's an explanation of the importance of rate locks and when and how to secure the best rate: Interest Rate Protection: Mortgage rates are subject to market fluctuations and can change daily or even multiple times a day. Rate locks protect borrowers from potential rate increases during the loan processing period. Budgeting and Planning: Knowing the exact interest rate allows borrowers to budget more effectively and plan their finances with certainty. It prevents unexpected increases in monthly payments,…
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08 Aug 2023
By Mark Feder

Understanding the Distinction Between Mortgage Interest Rates and APR

Mortgage Rates
When it comes to securing a mortgage, borrowers are often confronted with various terms and figures that may seem confusing at first glance. Two key components that play a significant role in determining the cost of a mortgage are the interest rate and the APR (Annual Percentage Rate). Though they are related, it is crucial to understand the difference between them to make informed decisions while comparing different loan offers. This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently. Mortgage Interest Rate The mortgage…
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03 Sep 2021
By Mark Feder

FICO Scores and Your Mortgage: How to Bump Your FICO Score to Secure a Better Mortgage Rate

Mortgage Rates
Is your credit score holding you back from getting the best rate on your next mortgage? The good news is that there are actions that you can take to increase your credit score and improve the interest rate offered on your next home loan. Here are a few easy and effective tips to help you get your credit score to where you want it to be. Increase The Amount Of Credit Available To You The easiest way to increase your credit score is to increase your credit limit, as this reduces your utilization ratio. To do this, you can either…
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