276 Results for author: RateMarketplace
If you’re like most prospective home buyers, you’ll likely apply for a common mortgage loan called a conforming loan. Though the Federal Housing Finance Agency establishes limits on conforming loans, borrowers may still exceed conforming loan amounts in particular cases. When this occurs, the mortgage instrument is called a ...
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These days, many Americans dream of buying a home but find themselves feeling overwhelmed or defeated by the struggle to save enough for a down payment. Under current economic conditions, the days of a 20 percent down payment are long gone, and many Americans struggle to save even 5 percent of their dream home’s purchase ...
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Are you racking up more credit card debt than in past years? If so, you aren’t alone. A new survey conducted by Rent.com revealed the shocking reality of credit card debt among younger Americans: a stunning 75 percent spend more than they earn each month. For most of these young spenders, the disturbing trend stems not from ...
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Many a prospective homeowner has been frustrated by long-term debt that seems to quash any hope of saving enough for a down payment on a home. In fact, among renters who wish they could own a home, debt is cited as the number one roadblock to doing so. Debt payments, especially of the high-interest variety like credit cards, ...
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When it comes time to buy a first home, most buyers will consult a familiar lender, like their local bank, for a mortgage loan. Although that can simplify the process, it will rarely yield the best loan option. For optimal results, consumers should go “mortgage shopping” and meet with at least two lenders before making a ...
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The term “underwater mortgage” means you owe more on your home than what you could sell it for in present market conditions. The situation can seem hopeless – pouring money into a property that will not yield a financial benefit, and which could actually damage your finances instead. However, consumers who find themselves ...
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Even the most well-educated consumer can get tripped up by unexpected – and unnecessary – credit card charges and fees. Though credit card companies often fly under the radar with these money-makers, it’s possible for the savvy consumer to avoid them altogether. Read on for several of the most common surreptitious credit ...
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If you scan your credit report annually, like financial experts recommend, you’re probably familiar with much of the information listed: name, address, social security number, existing debts and credit applications. If you look closely, however, you may find some surprising information that can have a negative impact on your ...
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There are plenty of fees and monthly payments to contend with when you’re purchasing a home. One common fee you may have heard of is Private Mortgage Insurance, commonly called PMI.
When taking out a conventional mortgage loan and making a down payment of less than 20 percent of your new home’s purchase price, you will ...
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Buying a home is a costly endeavor, and many a prospective buyer will look for opportunities to save a few dollars throughout the process. Skipping the optional home inspection, however, could have negative consequences that far outweigh several hundred dollars in savings. Although it’s not required by law, here are three ...
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