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15 May 2024
By 24hr Mortgage

Strategies for Single Homebuyers

Mortagage Tips, ,
Are you a single individual ready to take the plunge into homeownership? Congratulations! While the journey might seem overwhelming, especially when it comes to securing a mortgage, there is no need to worry. With the right strategies and tips, you can navigate the process with confidence and success. As a mortgage lender with years of experience helping single homebuyers achieve their dreams, I'm here to share some valuable insights to guide you on your path to homeownership. Know Your Finances Inside Out: Before diving into the housing market, take a deep dive into your financial situation. Understand your credit score,…
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14 May 2024
By 24hr Mortgage

How Do Mortgage Points Cut Your Interest Costs?

Mortgage, ,
Those who are involved in the real estate industry likely know that mortgage rates are at an all-time low. At the same time, nobody wants to pay more for a house than they have to. Some of the most important factors that dictate how much someone is going to pay for a house include points and interest rates. While interest rates are incredibly low, there is a way to make them lower. This comes in the form of points. This is additional money that is paid upfront to get a better deal over the life of the loan. Even though…
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13 May 2024
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – May 13th, 2024

Financial Reports, ,
An extremely light week following the FOMC, with the only note-worthy reporting being the Consumer Sentiment reports from the University of Michigan, which gives a long term outlook of the consumer on the economy. The report has come in well under expectations, much more so than any previous release in the last 6 months. This is largely due to the increase in the cost of living for every sector. Consumer Sentiment The University of Michigan’s gauge of consumer sentiment fell to 67.4 in a preliminary May reading, down from 77.2 in the prior month. Primary Mortgage Market Survey Index 15-Yr…
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10 May 2024
By 24hr Mortgage

Understanding the Vital Role of Homeowners Insurance in Mortgage Agreements

Mortgage Tips, ,
Owning a home is a dream for many, representing a significant milestone and a considerable financial investment. However, along with the excitement of homeownership comes a set of responsibilities and financial commitments. One of the most crucial aspects of safeguarding your investment is securing homeowners insurance.  Protecting Your Investment Your home is likely the most valuable asset you own. Whether you've recently purchased a property or you're considering buying one, protecting it against unforeseen events is paramount. Homeowners insurance provides financial protection against damages to your home and its contents caused by fire, theft, vandalism, natural disasters, and other perils…
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09 May 2024
By 24hr Mortgage

The 5 C’s of Mortgage Underwriting

Mortgage Application, ,
Buying a home is one of the most significant financial decisions most of us will ever make. It's a journey filled with excitement, anticipation, and sometimes, a touch of anxiety. Among the many steps involved in this process, understanding mortgage underwriting is crucial. To demystify this complex process, let's delve into the 5 C's of mortgage underwriting. 1. Credit Score: Your credit score is often the first C considered by lenders during mortgage underwriting. This three-digit number, typically ranging from 300 to 850, reflects your creditworthiness based on your credit history. Lenders use this score to assess the risk associated…
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08 May 2024
By 24hr Mortgage

APR vs. Interest Rates

Home Mortgages, ,
If you're gearing up to dive into the world of real estate, there are a few key terms you'll want to wrap your head around before taking the plunge. Today, we're demystifying APR and interest rate, two crucial concepts that can impact your home-buying journey. Don't worry, I'll break it down in simple terms so you can confidently navigate the process like a pro. Interest Rate: Let's start with the basics. The interest rate is the percentage charged by a lender for borrowing money to buy your home. It's essentially the cost of borrowing the principal amount. When you're comparing…
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