Finance

July 2, 2021

How Your Credit Score Can Affect Your Mortgage Rate and Monthly Payment

How Your Credit Score Can Affect Your Mortgage Rate and Monthly Payment -  Your credit score and credit history directly influence your mortgage rate and your monthly payment deals. You might be wondering how it does. Here is a breakdown of how credit score impacts your mortgage and monthly payment ...

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Posted in Finance
Feb. 22, 2021

6 Tips for Finding the Best Lender for First-Time Buyers

6 Tips for Finding the Best Lender for First-Time Buyers

Buying a home for the first time is exciting as well as quickly overwhelming when taking the first steps of looking for a mortgage lender. Where do you start? Who can you trust? Are there lenders that are better for first time buyers than others? What should you know before ...

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Posted in Finance
Jan. 25, 2021

New Mortgage Qualifying Requirement for Small Business Owners During COVID

Self-employed workers hoping to apply for a mortgage will find some tougher qualifying requirements from lending banks since the beginning of the pandemic. Fannie Mae and Freddie Mac, the largest mortgage backers in the country raised their basic qualifying parameters for home buyers that own their own business or are ...

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Posted in Finance
Nov. 2, 2020

Are Adjustable Rate Mortgages Making a Comeback?

Are Adjustable Rate Mortgages Making a Comeback?

Adjustable-Rate Mortgages(ARMs) have been pretty much non-existent over the past few months as applicants that can qualify for conventional loans due to lower rates sought out fixed-rate mortgages instead. Recently the common 5/1 ARM (where borrowers sign on for the first five years at a fixed rate and ...

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Posted in Finance
July 23, 2020

Personal Finance Guide for Portlandians During COVID-19

Homeowners and renters alike have seen struggling finances during the COVID-19 pandemic. Many have been worried about missing payments and even mortgage or rental payments even with the stimulus check and/or unemployment. While many of us are working from home, some are finding themselves struggling to make ends meet ...

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Posted in Finance
July 6, 2020

Is it Getting Harder to Buy a House?

Is it Getting Harder to Buy a House?

There are many new regulations that are making it a little bit more difficult to buy a home. While the subprime mortgage crisis is history for most Americans, federal regulators have implemented new rules to avoid this housing meltdown again. The economy and the housing market have both stabilized in ...

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Posted in Finance
June 22, 2020

4 Things Not to Do When Applying for a Home Loan

When buying a house and applying for a loan you don't want to make any major financial faux pas's or mistakes but some things that actually sound good, could harm your credit score without you knowing it. Here are 4 things not to do when applying for a ...

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Posted in Finance
May 18, 2020

What Happens to the Earnest Money?

What Happens to the Earnest Money?Earnest money - that illusive phrase that many first time home buyers are unaware of.  The term "earnest money" is a good faith deposit given by the buyer to the seller to let the seller know that the buyer is so serious about buying the property they are willing to put ...

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Posted in Buying, Finance
April 27, 2020

4 Ways to Raise Your Credit Score in 6 Months

4 Ways to Raise Your Credit Score in 6 MonthsIf you're planning on buying a house this year, and a lot of people still are, you want to have the highest credit score and report possible. If your credit history has been less than perfect, there are some ways that you can rapidly increase your credit score. Anything ...

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Posted in Finance
Feb. 19, 2020

The Hidden Cost of an FHA Loan

The appeal for a low down payment option with an FHA loan is attractive to many first-time homebuyers but there are trade-offs. A conventional loan usually requires 10% to 20% down minimum depending on the terms but an FHA loan, which stands for Federal Housing Administration loan, allows for a ...

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Posted in Finance