Month: February 2018

The Reason You Need a CLUE Report Before Buying a Home

You have many factors to consider when you are in the market to buy a home. Did you know one of the top things should be a CLUE Report? If you are unfamiliar with this report, it’s time to learn about it. This report could save you time, money, and a lot of headaches. WHAT IS THE CLUE REPORT? CLUE Report stands for the Comprehensive Loss Underwriting Exchange. This is a database of claims homeowners have made on their property in the past 7 years. It only contains information that each insurance agency provides, but it can give you...

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How do You Buy a House in a Different State?

Buying a house in your own state is tough enough. When you have to look out of state for a home, the problems just get exacerbated. Before you start the process, learn the simple steps you should take to help make the process as easy as possible for you. YOU NEED HELP You need a buyer’s agent. You want to hire someone that will represent just you, not you and the seller. A listing agent is motivated to sell the home they listed. They will do whatever they can to get you to buy it. If you have a...

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Should You Use Home Equity to Pay Off Debts?

If you are buying or refinancing, now might be the perfect timing to lock in on your rate. According to the latest Primary Mortgage Market Survey(PMMS) Report from Freddie Mac, average mortgage rates just hit the year’s lowest as 30-year FRM fell by 7 basis points to 3.95 percent this week. Mortgage rates decreased by more than a quarter of a percentage point since the beginning of 2017. For the past months, rates held at the four-percent range and experts predict rates to climb up as much as 4.3 percent in the middle of the year, but it is...

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How Rising Interest Rates Affect What Mortgage you Can Afford

No one likes to hear that interest rates are going up. In most people’s minds, this means higher mortgage payments or a declined mortgage application. While it’s true that rising interest rates have an effect on your mortgage affordability, it’s not the only factor. A lower rate doesn’t necessarily mean it will be easy to afford your loan. In fact, 1/4th or even ½ of a point doesn’t make a huge difference in your payment. Compare Offers from Several Mortgage Lenders. We look at the specifics to help you understand this theory below. HOW CAN A LOWER INTEREST RATE HELP...

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