Lending / Financial

Buying real estate is even more challenging for those of us whose eyes glaze over at the mere mention of decimals, percentages or anything else that even hints of mathematics.


The financial aspect of purchasing the largest investment of your lifetime, though, is the most important. Nobody wants to lose money. Nobody wants to leave money on the table.


If you're in the market for information on mortgages, credit scores and interest rates, you've come to the right place. The financial and mortgage pros here at ActiveRain even tell you how to shop for and compare lenders, how to raise your credit score, how to get a mortgage after a short sale or foreclosure and how to get pre-approved for a mortgage loan. Even Mom and Dad can't give the great advice you'll find here at ActiveRain.


Plan to spend some time here because ActiveRain's content library is massive. Lucky for you we've arranged it so that it's über user-friendly. You'll be amazed at how easy it is to put your finger on just the information you're looking for without having to surf a million other pages.

Recent blogs on Lending / Financial
By Karen Schimpf, When Your Bank Says No, I CAN Get Your Deal CLOSE
(Commercial Capital Ltd.)
https://flic.kr/p/274kJW4We are Beating the Bank’s Commercial Rates….And it is NOT EVEN CLOSE…..A Dentist client got referred to me, he was being given a 6.7% rate on a 5 year fixed with a 25 year amortization to buy a building for his practice. He banked with this bank for years. I got him 6% for the same deal and the final rate I got him, after negotiating, was a 5 year fixed, with a 25 year amortization at 5.7%. That was with only 15% down conventional!Let me repeat that, 5.7%, on a 5 year fixed with a 25 year amortization and only 15% down-conventional, not SBA. THAT WAS JUST LAST WEEK. MOST BANKS ARE QUOTING AROUND 10% and SBA 7A borrowers are around 10% and I am getting my clients 6% or lower. Often, I can get the bank to pay my fee so that the COSTS ARE THE SAME. We are beating a...
Comments 1
By Joe Metzler, Sr Loan Officer
(Cambria Mortgage)
Are Mortgage Rates Just Back to Normal?According to a recent survey, a full 61% of Americans think that mortgage interest rates rates are "unprecedented."The thing is, mortgage rates aren’t actually the highest they’ve ever been; not even close, and it isn't too far a look back to see when they were similar or higher.The reality is, homebuyers have been enjoying abnormally low mortgage rates since right after the real estate crash, and especially the COVID driven low rates the past few years.We all get it, it stinks, but this graph will shed some light on how those low rates were on the historical chart, and now they’re not just back to "normal"—perhaps even still below normal?---Ready to find a home in today's market?  Our mortgage experts here at Cambria Mortgage, the Joe Metzler team...
Comments 2
By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Remax 200 Realty)
Most people are trying to find ways to save money these days. One expense you may not have thought about is your mortgage insurance. If you purchased a home and put less than 20% down, chances are you may have a mortgage insurance premium wrapped up in your mortgage payment. Some of you may wonder if you need mortgage insurance? You do not! Mortgage insurance does not protect you, it protects your lender. When you put less than 20% down, most lenders require you to pay for mortgage insurance to protect them in case of default.Mortgage insurance may go away on its own once you have at least 20% equity, based on an amortization schedule you would have received at closing. Depending on your interest rate and how much you initially put down, it could take years before the mortgage insurance...
Comments 2
By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages. The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market.However, while getting through the loan process with an FHA mortgage loan is not necessarily more difficult than with a conventional or conforming loan, there are some issues that you will want to be aware of.Property ConditionYou can't buy just any property with a FHA loan, or any other loan for that matter. All lenders are concerned with the condition of a property, especially as it relates to livability and safety. Major deficiencies in a home will almost always be noted when the ...
Comments 0
By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on home price growth from S&P Case-Shiller and the Federal Housing Finance Administration. Monthly reports on job growth and unemployment were released by the federal government and ADP. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller HPI: Home Prices Drop in NovemberS&P Case-Shiller Home Price Indices revealed that U.S. home prices fell for the fifth consecutive month in November. The National Home Price Index fell by -3.1 percent year over year in November as compared to a positive reading of 2.8 percent home price growth in October. Miami, Florida, Tampa, Florida, and Atlanta, Georgia held the top three places in the 20-City Home Price Index. Detroit, Michigan was the only city to post a positi...
Comments 0
By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
Is an ARM for you?Before you move into the home of your dreams, you’ll need to decide what type of mortgage will work best for your financial needs. One type is an adjustable-rate mortgage, also called an ARM. What is an ARM? We’ll explore this kind of loan so that you can decide if it’s right for you. An adjustable-rate mortgage or ARM is a home loan with an interest rate that adjusts over time. These rates are governed by benchmarks such as the U.S. Treasury and are influenced by economic conditions and your credit score. These are unlike a fixed-rate mortgage which keeps the same interest rate and payment for the life of the loan.If your goal is to get the lowest mortgage rate on a starter home, an ARM is a good introductory option because it usually starts low. Although it is genera...
Comments 2
By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
 Look Into the Markets   This week the Fed hiked rates by .25% and home loan rates improved to their best levels since September. Let's walk through what happened with the Fed and talk about what to watch in the week ahead. "It Feels Good, yeah" - Feels Good by Tony! Toni! Tone! "We can now say for the first time that the disinflationary process has started. This is a good thing." Fed Chair Powell 2/1/23. As expected, the Federal Reserve raised the overnight Fed Funds Rate by .25% to a range of 4.50 to 4.75%. The Fed Statement and subsequent press conference also contained "dovish" tones where the Fed offered hope that inflation is headed lower and future hikes would be dependent on the incoming data. "We haven't made a decision on exactly where rates need to end up." Jerome Powell. Her...
Comments 3
By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
               Latest rates, based on 20 percent down, $200,000 owner-occupant mortgages. The rates and terms may vary; check with lenders for details. Rates may have changed click here to verifyWednesday, February 1, 2022  Lender Term/Type Interest Rate % Points % *APR Aloha Pacific Federal Credit Union808-531-3711NMLS#377314 15-YR Fixed 4.500 1.875 4.953 30-YR Fixed 5.250 1.875 5.523 5-YR ARM 4.375 0.500 4.510 American Savings Bank808-593-1226NMLS#423168 15-YR Fixed 4.500 2.250 4.958 30-YR Fixed 5.375 2.250 5.656 5-YR ARM 4.375 1.750 5.812 Bank of Hawaii877-616-2636 15-YR Fixed 4.500 2.000 4.804 30-YR Fixed 5.250 2.250 5.454 5-YR ARM 4.125 2.500 5.529 Central Pacific Bank808-544-0500NMLS#416603 15-YR Fixed 4.500 2.250 4.967 30-YR Fixed 5.250 2.125 5.522 5-YR ARM 5.375 0.000 6.624 Fina...
Comments 2
By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
U.S. home prices continued to fall in November according to S&P Case-Shiller’s month-to-month national and 20-city home price indices, but home price growth rates remained in positive territory year-over-year. The national home price index posted a  7.70 percent year-over-year home price growth rate as of November 2022.20-city home price index posts 5th consecutive month-to-month decrease in NovemberThe S&P Case-Shiller 20-city home price index for November reported that the top three cities for home price growth were Miami, Florida with a year-over-year home price growth rate of 18.4 percent; Tampa, Florida followed with a  year-over-year home price growth rate of 16.9 percent. Atlanta Georgia reported a  12.7 percent growth rate for year-over-year home prices.Home prices tracked in th...
Comments 1
By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Are you thinking of buying a new home this spring or summer? If so, you're not alone. Many thousands of individuals and families alike will become homeowners this year. Whether you're a first-time buyer or a seasoned veteran of the housing market, you probably know there are significant choices to make. One of the big decisions you will have to ponder is how much you want to invest in your down payment. With that in mind, let's try to answer the question of whether or not it is worth it to put more than 20 percent of the home's price in your down payment.Ask Yourself: How Liquid Are You?Before you can decide how much to put down, you first need to determine how liquid your finances are. That is, how much cash do you have access to? For example, if you are considering a $300,000 home, a ...
Comments 2
Your Lender gives you a prequalification letter with an amount to tell your REALTOR® the home price to start looking for. However, life has changes (a future job change, baby, taking care of parents or family, medical issues, college and approaching school costs etc). You may have to overlay some of these future changes into a future formula. What is the ACTUAL home price you should consider based on YOUR situation. A price that you can REALLY AFFORD? (Photo Pixabay) Family deciding on ACTUAL PRICE they can afford. Photo: White 77, Pixabay Reatlor.com in an article by Cathie Ericson addressed this issue on Jan 18, 2023 as follows, "Long before you start asking yourself what type of house you want—condo or house? Craftsman or ranch?—you should ask yourself this pragmatic question. After...
Comments 6
By Rocky Dickerson, Superior Service!
(Realty One Group)
Las Vegas Vantage welcomes Charity Bond of EPiQ Lending. In today's episode, Charity discusses the real estate outlook for 2023. With the majority of home buyers financing their purchase, Charity discusses the patterns and changes ahead for mortgage rates and practices. In this episode, Charity discusses with Rocky Dickerson the way our current market matches with the markets of 2008 and 1980. Charity also gives us things to keep an eye on. Learn how FHA buyers could soon qualify for an extra $50,000 in sales price without earning a penny more! On a personal note, find out the parts of the Las Vegas community that Charity enjoys (and what show made her want to throw her clothes on stage - LOL) To contact Charity Bond, go to: Phone: (702) 622-8494 Email: charity.bond@epiqlending.com Face...
Comments 2
By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Your Lender gives you a prequalification letter with an amount to tell your REALTOR® the home price to start looking for. However, life has changes (a future job change, baby, taking care of parents or family, medical issues, college and approaching school costs etc). You may have to overlay some of these future changes into a future formula. What is the ACTUAL home price you should consider based on YOUR situation. A price that you can REALLY AFFORD? (Photo Pixabay)Family deciding on ACTUAL PRICE they can afford. Photo: White 77, PixabayReatlor.com in an article by Cathie Ericson addressed this issue on Jan 18, 2023 as follows,"Long before you start asking yourself what type of house you want—condo or house? Craftsman or ranch?—you should ask yourself this pragmatic question.After all,...
Comments 5
By Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker
(Harry Norman, REALTORS® )
Thank you Will Hamm for your original blog.   Look Into the Markets   Interest rates hover near the best levels since September, despite several good economic readings reported. Let's discuss what happened and see what is coming next week. "Hey, alright now And don't it feel good" - Walking on Sunshine by Katrina and the Waves Economy Grew to Finish 2022 Gross Domestic Product, a measure of economic growth, for the Fourth Quarter 2022 showed the economy expanded at a 2.9% annual rate, down slightly from the 3.2% rate in the Third Quarter 2022. Seeing the economy grow in the back half of 2022 after negative growth in the first half of 2022 is good news. This positive reading elevates the chance of a "soft landing" by the Fed, where they hike rates to slow inflation but do not slip us int...
Comments 1
By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
This Week's Mortgage Rate Forecast: Rates could be volatile   This week could see rates move a lot day-to-day, and could also set the tone for how rates will move higher or lower from here in coming weeks. Wednesday's Fed meeting and press conference will cause the biggest moves, followed by jobs and wage data on Friday and consumer confidence data on Tuesday. This is a good week to stay in contact with your mortgage professional.What's affecting rates this week: Economic data: A busy week of data that includes consumer confidence as well as jobs and wage reports, all of which could cause some movement for rates this week. The Fed: The Fed will announce a rate hike on Wednesday expected to be .25%, and will issue its policy statement followed by a press conference by Fed Chair Jerome P...
Comments 4
By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic reporting included readings on new and pending home sales, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. New home sales increase in DecemberThe Commerce Department reported new home sales rose to a seasonally-adjusted annual pace of 616,000 sales in December as compared to the expected pace of 615,000  new homes sales and November’s revised reading of 602,000 annual sales. December was the third consecutive month that the pace of new home sales rose, but new home sales remained well below the 1.04 million sales peak reported in August 2020.Pending home sales rose by 2.5 percent in December, which outpaced expectations of a one percent decrease in pending sales and November’s seasonally-adjusted annual dec...
Comments 1
By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Are you prepping to buy your first home? If so, one of the steps you should take early on is to make sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Click Here to Continue Reading Compare Pensacola, Pace, and Gulf Breeze Mortgage Rates Looking for the best lender in Pensacola, Pace, or Gulf Breeze Florida Just Ask The Expert who we recommend email US at Charles@charlesstallions.com and let US know if you are a veteran, first responder, or first-time buyer or just like many folks just looking to refinance. No LOAN fits all and we cut to the chase because we are not lenders we are referral partners.  Bottom Line "There Is A Realtor For That" If you’re ready to buy or sell a home Charle...
Comments 0
By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Looking for a $0 Down Payment in the Phoenix Arizona Metro area? Well there are rural area homes through United States Department of Agriculture and their USDA Loans available through most lenders. There are Veterans Administration  VA loans that do offer $0 Down but for those of you that are not Veterans the USDA Loan is a great alternative. (photo: Michelle Bryant, Pixabay)Here are ALWAYS UP TO DATE rural designated area $0 Down Payment USDA Loan Homes for Sale in the Phoenix metro on the MLS for the day that you are reading this.  As your Buyer's Realtor, I love to track the $0 Down Payment USDA eligible single family detached homes for sale in the Phoenix Arizona metro area for my clients because I think they are great for those are ready to buy a home but do not have money for a do...
Comments 4
By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
 Look Into the Markets   Interest rates hover near the best levels since September, despite several good economic readings reported. Let's discuss what happened and see what is coming next week. "Hey, alright now And don't it feel good" - Walking on Sunshine by Katrina and the Waves Economy Grew to Finish 2022 Gross Domestic Product, a measure of economic growth, for the Fourth Quarter 2022 showed the economy expanded at a 2.9% annual rate, down slightly from the 3.2% rate in the Third Quarter 2022. Seeing the economy grow in the back half of 2022 after negative growth in the first half of 2022 is good news. This positive reading elevates the chance of a "soft landing" by the Fed, where they hike rates to slow inflation but do not slip us into a recession. Unemployment Line is Historica...
Comments 14
By Chris Goulart, California Hard Money Loans & Solutions
(All California Lending)
A private hard money second loan can be a valuable source of funding for businesses and investors in today's high interest rate environment. This type of loan is typically secured by real estate and is provided by private lenders, rather than traditional banks or financial institutions.  For investors looking to access cash in today's higher rate market, a California private hard money second may be the answer.One of the biggest advantages of a private hard money second loan is that it allows borrowers to keep their existing low rate loan in place. This is because the private lender providing the hard money second loan is only placing a lien on the property, rather than refinancing the entire loan. As a result, the borrower is able to retain their low rate loan and access the additional...
Comments 0