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Key Insights at a Glance The right of rescission grants homeowners a chance to withdraw from certain refinance agreements, home equity loans, and HELOC contracts without financial penalty. This right can be invoked within a strict window of three business days following the signing of an eligible contract. Note that purchase loans are excluded from […]

Key Insights at a Glance HomeReady loans, conventional in nature, receive backing from Fannie Mae targeting borrowers with modest incomes. The program features a modest 3% down payment, slashed mortgage insurance fees, plus the benefit of including rental income in your loan evaluation. Eligibility requires your income to stay within 80% of your area’s median […]

Key Insights to Keep in Mind Opting for a 15-year mortgage means heftier monthly bills but benefits from a reduced interest percentage. The 30-year route eases your monthly cash flow but results in heftier interest payments overall. Stretching your loan over 30 years invariably leads to paying significantly more in interest than the shorter term. […]

Worries about a looming recession have resurfaced, sparking unease over the potential rise in mortgage costs. Yet, this time around, the trajectory of interest rates remains anything but predictable. If a recession truly looms on the horizon, can we confidently expect mortgage rates to climb relentlessly? Understanding What an Economic Recession Really Means At its […]

Understanding Mortgage Preapproval Mortgage preapproval is essentially a lender’s conditional nod, signaling that based on an examination of your creditworthiness and financial background, you’re likely to secure a loan. While it’s not an ironclad guarantee of funding, it’s a crucial credential that empowers you to confidently put forth offers on properties. Is It Possible to […]