Tag: <span>#brokersarebetter #trending</span>

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FREE CREDIT REPORTS

Credit reports are currently free as long as you only make an inquiry weekly. Click the link to the article from the FTC regarding getting a free credit report and credit monitoring during the pandemic. You can get your report at www.annualcreditreport.com, which is authorized by all 3 credit bureaus, i.e. Experian, Transunion, and Equifax. During...

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NEVER TOO OLD!

  You’re never too old, age is not a factor when applying for a mortgage loan. Lenders cannot discriminate based on age.  So, even if you are 100 years old, and can qualify for the payment, you can get a 30-year mortgage.

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MORTGAGE, REFINANCING AND SKIPPING PAYMENTS

You may have heard about skipping a payment, or maybe even 2 months payments, when you refinance? Is skipping a payment tricking the system, or getting away with something? No, in fact, you may be front-loading more cash at closing.  

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THE LOAN PROCESS – WHAT IS INVOLVED

What happens to your loan application and supporting documents after they are sent into the lender? The file goes through setup first. The file is reviewed to make sure it is compliant, i.e. the loan package and disclosures were sent timely and are in order, the minimum credit documents are submitted, such as W2s, tax...

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CAN I GET A MORTGAGE UNDER 3%?

Everyone wants the lowest interest rate at the lowest costs. Can you get a rate today under 3% with no points? Maybe. There are many factors that go into an interest rate: Credit score Loan-to-value ratio (LTV) Term of loan- 30 years, 15 years, etc. Is it for a primary residence, second home or investment...

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NEGATIVE INTEREST RATES: WHAT YOU NEED TO KNOW

You may have heard of negative interest rates. What does this mean? Does it mean the bank pays me? See the below article for an explanation and what it would mean to you. Check out this story from USA TODAY: Negative interest rates: What you need to know https://www.usatoday.com/story/money/personalfinance/2020/05/31/negative-interest-rates-what-you-need-know/5288107002/ Negative interest rates, in the unlikely...

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WHO’S ON FIRST? I DUN’NO … 3RD BASE!

Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. For those of you old enough to remember, that line is from the classic comedy dialog between Bud Abbot and Lou Costello first released in 1945. (This is available on You Tube. A link is offered for your entertainment …...

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MAKE YOUR MORTGAGE PAYMENT, IF YOU CAN Pt. II

Make your mortgage payment, if you can…  We recently posted about mortgage payment forbearance and why it’s best to continue making payments if you can. There may be consequences; mortgage lates. “Mortgage Hangover” is another reason why you should make your mortgage payment. See this article posted on Bloomberg.com.   Fannie-Freddie Forbearance Rule Sows Fears of...