20 Sep 2016
By Mark Feder

3 Things That Determine Your Mortgage Interest Rate

Mortgage Tips
When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true, and you may gladly contact the lender or mortgage company to complete your loan application. However, in many cases, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate. By learning more about the factors that influence your interest rate, you may be able to structure your loan in a more advantageous way. Your Credit Rating One of the most…
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30 Aug 2016
By Mark Feder

Thinking of Buying a Second Home? Assess Your Finances First

Mortgage Tips
The decision to buy a second home may be made for a number of reasons. For example, you may have a destination where you and your family love to spend free time in, and you may be ready to settle into your own space in this location. You may be considering the tax benefits associated with a second home, and you may even have plans to live in the home as your primary residence after you retire. While there may be numerous benefits associated with the purchase of your second home, you may be concerned about how affordable it will…
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26 Aug 2016
By Mark Feder

Why Your ‘Debt-to-Income Ratio’ Number Matters When Obtaining a Mortgage

Mortgage Tips
If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. What is a Debt-to-Income Ratio? A debt-to-income ratio is the percentage of monthly debt payments compared to the amount of gross income that a person earns…
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22 Aug 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – August 22, 2016

Mortagage Tips
Last week's economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released. Shortages of available single-family homes have driven up home prices and increased competition among homebuyers; short inventories of homes for sale are affecting affordability in many areas, although buyers seem motivated by lower mortgage rates and some easing of mortgage requirements. Analysts have repeatedly said that the only solution to the shortage of homes is building more homes. Fortunately, the National Association of Home Builders reported that builder…
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