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Mortgage.info is your information portal for all things home, mortgage, and refinancing.

One of the most stressful parts of buying a home is negotiating the price. You don’t want to bid too little yet you don’t want to overbid either. So how do you know which is the best price to give without losing your chance of buying a home? Know What a Seller Needs Negotiating the price of a home actually means more than haggling on a price. There’s a lot more that goes into the sale than the price. There are also the details of the sale, such as the closing date, home possession date, contingencies, and even what the…

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A jumbo loan is any loan higher than the national conforming limit. Today, that means any loan higher than $647,200. If you happen to find a home that exceeds this limit, you may have to apply for a jumbo loan. While it’s not a bad thing, you may need a few more qualifications in order to qualify for the loan. Are Jumbo Loans Risky? Lenders think of jumbo loans as risky because of their size. Typically, lenders don’t sell these loans on the secondary market. They keep them on their own books, which means if the borrower defaults, the lender…

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If there’s one thing that every consumer needs, it’s good credit. Bad credit can ruin your financial life as well as affect other areas of your life that you may not even realize. If you think that a hit here or there on your credit isn’t a big deal, keep reading to see just how important that credit score and credit history really is to you. You Won’t Get the Lowest Interest Rates When you shop for a home loan or auto loan, the first thing you probably ask is ‘what’s the interest rate?’ You, like most people, want the…

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You own your home free and clear but find yourself in a financial bind. You need money, but it’s all tied up in your home. Can you get a first deed HELOC? The short answer is ‘yes.’ The long answer is that it depends on your circumstances. Just like a HELOC in second position, you must qualify for the loan. We’ll discuss how to go about that below. The Appraised Value’s Importance The largest factor is your appraised value. Second is how much money you need. Since you don’t have any outstanding liens, you are in good shape. However, you…

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You are ready to buy a house but don’t have the first idea how much a lender will give you for a mortgage. You also aren’t sure how much of your own money you should spend on the home. Understanding how much house you can afford is one of the first steps you should take. You can get a pre-qualification from a lender to help you see how everything will pan out. Once you decide on a loan and a home price, you can take the steps to get pre-approved and start shopping for a home. How Much do You…

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