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Hammer and Tools

What is a 203(k) Streamlined Loan?

Sometimes all a house needs is some simple TLC to make it a home – but it’s not always easy for buyers to come up with the extra cash for repairs, even if it’s a fairly minor project.  That’s where an FHA 203(k) Streamline Loan can help.  This program differs from a regular 203(k) in that it simplifies borrowing for minor improvements without the extra cost or details, and … [Read More...]

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Deciding Whether or Not to Pay Points on a Mortgage

When a homebuyer pays for “points”, he or she is paying a portion of the loan’s interest up front. Points are paid for in a lump sum that will reduce the interest rate on a fixed mortgage. Each … [Read More...]

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Portfolio Mortgage Loans

Soon after closing many loans are packaged together with others with similar characteristics and sold on the secondary market. The lender that made the loan may still handle the day to day management … [Read More...]

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yellow house

Is An Adjustable Rate Mortgage Right for You?

As prospective homebuyers weigh their financial pros and cons, the subject of adjustable rate mortgages will likely come up. Known as ARMs, they have interest rates that vary, unlike traditional fixed-rate mortgages. With an ARM, the interest rate begins … [Read More...]

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Calculating Your Home Equity

Knowing the amount of equity you have in your home can be beneficial, especially if you're thinking of applying for a mortgage refinance. Calculating your home equity is fairly easy to do. You simply take the current market value of your home and subtract … [Read More...]

Green House

Could Buying a Home with a Stigma Be a Great Deal?

There is a hush-hush phenomenon in real estate that prospective house hunters should be aware of. Although they may not be present in every neighborhood, there are homes to be had for much less than they are worth because they were the scenes of unsavory … [Read More...]