Mortgage.info

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

If you want to refinance your mortgage, you’ll probably be surprised at the amount of closing costs you’ll have to pay again. You know you already paid closing costs when you bought the home, but now you’ll have to pay them all over again to refinance. Luckily, there are some simple ways that you can get the lowest costs possible. Shop Around First, don’t assume you have to stick with your current lender. That’s what they want you to do. This way they can charge you whatever they see fit for your loan and not worry about you going elsewhere.…

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Do you feel like you are throwing money out the window when you rent? Do you think that buying a home is always the best choice? While there certainly are benefits to owning a home, there are also downsides. If you aren’t in the right place financially, you may be better off renting rather than buying. Keep reading to learn how to tell if buying a home is better than renting in your situation. The Advantages of Buying a Home Buying a home provides you with several benefits including: You can do what you want with the home, to a…

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Once you start the mortgage approval process, you have to ‘freeze’ your financial life. In other words, you don’t want anything to change. Even the smallest change can cause issues for you, as it can be a red flag for a lender. Basically, the lender takes a snapshot of your financial life and it’s up to you to keep it that way at least until you close on the loan. While you are able to spend money and go about your daily life, there are certain things you should not do during this time. Keep reading to learn the things…

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Lenders pay close attention to your credit, but it’s not just your credit score that they look at – they also look at the credit history. They don’t want to know just how your credit is right now; they want to know what your credit is like over time. In other words, what are your financial habits? A credit score only tells a lender how you are doing at the moment. They need to know where your credit started though. Is it increasing or is it decreasing? This gives lenders a better idea of what is going on in your…

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When you shop for a mortgage, you are likely to hear many terms thrown around, including APR and interest rate. While the two terms sound the same, they are very different. It helps to understand both terms so that you can successfully shop for a mortgage that will be the most affordable for you now and in the long run. The Interest Rate The interest rate is the price the lender charges you for borrowing the money. The rate can remain the same throughout the term with a fixed rate. It can also adjust annually with an adjustable rate loan.…

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