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What’s the difference between an Interest Rate and The APR?

When you shop for a loan, you will typically see two rates, the interest rate and the annual percentage rate (APR). If you don’t clearly understand the difference between the two, you won’t understand the difference between what you are paying in interest and the true cost of the...

Is There a Difference Between Homeowners Insurance and a Home Warranty?

The short answer is “yes,” they are completely different, but both are important in protecting your investment. Homeowners insurance protects you against accidents, while a home warranty protects you against malfunctions. Here is a breakdown of how each works to protect you....

Why a 10 year Consumer Mortgage Might Be In Your Future

Is a  10-Year Mortgage in Your Future? In what could portend a growing trend in coming years, the 10-year mortgage loan has emerged as the mortgage of choice for an increasing number of consumers. Why the sudden interest in the shortest of fixed mortgages? It may be time to take...

Mortgage Protection Insurance: A great investment or a bust?

Life couldn’t be greater. Your significant other recently landed a high-paying job. And in a few weeks, you’ll be closing on your dream home. Fast forward a few years and along comes the kids, car payments, student loans, maxed out credit cards and a host of other expenses....

How to Find Your Best Home Insurance Deal in 2017

Finding the best home insurance deal isn’t rocket surgery or even brain science. In fact, buying a policy is pretty much like buying anything else. You look at the price tag, you consider what you need from the goods you’re buying, you see how closely the ones you’re examining...

How to Outsmart Private Mortgage Insurance

One of the risk measures lenders use in underwriting a mortgage is the mortgage’s loan to value (LTV) ratio. A mortgage’s LTV ratio is a simple calculation made by dividing the amount of the loan by the value of the home. The higher the LTV ratio, the higher the risk...

When (And When Not) to Refinance Your Mortgage

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many reasons why homeowners refinance: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an...

4 Smart Reasons To Refinance A Mortgage

Mortgage rates are on the rise. As reported by the New York Times, rates jumped 50 basis points virtually overnight. My own tracking of rates confirms the jump, as reflected here. And this raises an important question–when should you refinance a mortgage? The common reason...
Posted On 21 Apr 2017

5 Key Benefits of USDA Loans You Should Know!

Let’s look at a hypothetical: You’re ready to buy a home. You really don’t have enough cash for a down payment. You’re looking around a homes for sale with your Realtor®. Your Realtor® suggests finding a home for sale in an area eligible for a USDA financing. Now, you have...

USDA slashing mortgage fees

Borrowers who use the U.S. Department of Agriculture’s Rural Housing Service to get a mortgage could soon pay significantly less for their loan, as the USDA announced that it is about to cut its loan fees for lenders who use the USDA’s Single Family Housing Loan Guarantee...
Posted On 21 Apr 2017
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