Month: October 2018

Can you Negotiate Mortgage Rates?

As you shop for a mortgage, you are probably receiving rate quotes from different lenders. You may think that the rate they give you is what you get. Did you know, though, that you could negotiate that rate? Lenders have some wiggle room in the rates they offer you. If you have it in you, it’s possible to negotiate until you reach an agreement. Get Matched with a Lender, Click Here. If you aren’t sure how to negotiate your rate, keeping reading to learn how it’s done. GET QUOTES FROM SEVERAL LENDERS Your first step should be to shop...

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How Much Money do You Need to Buy a House?

You have your down payment saved, so you think you are ready to buy a house. Before you start, you should know some things. You need more than just the money for the down payment to buy a house. Many fees go into the purchase, which is important for you to understand so that you can make the most of the situation. Compare Offers from Several Mortgage Lenders. THE COST OF BUYING A HOME When you buy a home, you have to think of the following costs: Earnest money – The money you put down to show the seller that...

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What is a Portfolio Loan?

When you think of a mortgage, you likely think of conventional loans. These loans are written and funded by a lender, but then sold to a secondary market entity, such as Fannie Mae or Freddie Mac. Your loan servicer might remain the same, but the entity that actually owns the loan doesn’t remain the same. Typically, whether it’s a few months or a few years down the road, your loan gets sold to another service. This may happen several times during the loan’s term. Compare Offers from Several Mortgage Lenders. A portfolio loan is the opposite of this. When...

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How to Find Fannie Mae HomeStyle Loan Lenders

Have you fallen in love with a home that won’t pass Fannie Mae standards for financing? Maybe it needs some renovations to bring it up to code. If you don’t have the cash lying around to pay for the home, you may think you’re out of luck. Compare Offers from Several Mortgage Lenders. There is a program that can help you and it’s a Fannie Mae product. It’s the Fannie Mae HomeStyle loan. This first mortgage program provides funds to buy a home as well as renovate it. It’s like having your cake and eating it too. You can borrow...

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