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What you should know about shopping for a mortgage There are a few things you should consider when shopping for a mortgage. A mortgage is a loan specifically for a real estate property, either land or building. A mortgage is a secured loan, meaning it is tied...
The first thought that comes to mind for a lot of homeowners when they hear the term mortgage refinance is “interest rate.” But there is more to mortgage refinancing than interest rates. This apparent deficit in information has which had resulted in homeowners making refinancing decisions without realizing that...
Calculating Loan-To-Value and LTV Explained Loan-To-Value, or LTV, is a term used to identify the ratio between how much you owe on the loan compared to the value of the house. The Loan-To-Value is a necessary calculation when purchasing a new house or...
HARP is Gone. What Now? The government backed Home Affordable Refinance Program (HARP), was created in 2009 in an effort to help homeowners who were in over their heads on their mortgages after the recession started in 2008. It was discontinued on December...
What are Freddie Mac and Fannie Mae Freddie Mac and Fannie Mae are two Government Sponsored Enterprises (GSEs) that provide a secondary market for home mortgages. They do this by purchasing mortgages from the original or lender. Fannie Mae was...
The first thought that comes to mind for a lot of homeowners when they hear the term mortgage refinance is “interest rate.” But there is more to mortgage refinancing than interest rates. This apparent deficit in information has which had resulted in homeowners making refinancing decisions without...