No, Jumbo Loans don’t have anything to do with buying Elephants but they do have to do with large (or expensive) houses. According to Investopedia, “A jumbo loan, also known as a jumbo mortgage, is a form of home financing for whose amount exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). As […]
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If you feel that your mortgage is more expensive than it needs to be, you may want to consider refinancing. This may make it possible to get a lower interest rate, remove private mortgage insurance payments or otherwise reduce your monthly payments. What are some issues to consider prior to
Improve Your Terms: 3 Tips To Figuring Out Home Refinancing Read More »
One of the requirements of buying a home is putting at least a portion of the sales prices down before closing. In many cases, you may be required to put down as much as 20 percent of the purchase price, but this may vary depending on the type of loan
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Purchasing a home is one of the most exciting experiences in your lifetime. But it can also be stressful. Arranging the financing to purchase a home is a unique experience that can affect your life for years to come. So it is critical that you get this one step right.
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If you are considering buying a new home there are a great many wonderful places to do so. Florida still has many areas that are near beautiful beaches and have an abundance of foreclosures for sale putting a lid on prices for the foreseeable future. This allows you to get
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The process of buying a home can be daunting to even the savviest of consumers. If you are going the mortgage route, you might need to have a dictionary handy to understand much of the jargon associated with the process. That is, of course, after you determine what type of
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In finance, subprime lending (also referred to as Poor Credit Lending) means making loans to people who may have difficulty maintaining the repayment schedule, due to poor money management skills or reflecting setbacks such as unemployment, divorce, medical emergencies, etc. These loans generally have higher interest rates and less favorable terms in
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Financial Health In order to buy your next home with confidence in today’s unpredictable economy you need to be prepared. Have a realistic review of your budget and credit rating. Taking into consideration your financial resources, assets, liabilities, and obligations is the first step. Once you have gathered this information, seek
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Now that the worst is over and you are somehow coping after bankruptcy, there will be a lot of things that you’ll need to think about, such as your mortgage. Since declaring bankruptcy stops foreclosure proceedings you gain some time in working out the situation. But it is temporary, it still
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Remortgage In time of declining interest rates, it is often beneficial to switch to a more favorable interest rate from a different lender. This process is called remortgaging, (aka. refinancing) basically it is the process of paying off one mortgage with the proceeds from another mortgage using the same property as security. The term
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