As a consumer, understanding these economic trends can empower you to make informed decisions about your mortgage. Let’s discuss some key economic factors that influence mortgage lending and what they mean for you.
Can Closing Costs Be Included in Your Loan? Here’s What You Need to Know
When buying a home, many people are aware of the down payment but often overlook the additional costs that come with closing the deal. These expenses, known as closing costs, can sometimes catch buyers off guard. The good news is that, in certain circumstances, closing costs can be included in your loan.
What’s Ahead For Mortgage Rates This Week – June 24th, 2024
Currently, the Retail Sales Report is the sole report that has weight. With the passage of more optimistic inflation data reports, retail sales coming in slightly under expectations will have little to no bearing on the overall outlook. Given the last major reports indicating the economy’s health and state of inflation, there is more optimism toward a potential rate cut this year. Lending partners have still been quick to continue cutting rates.
How Long Does It Take to Refinance a House?
Refinancing your home can be a smart financial move, offering you the chance to secure a better interest rate, reduce monthly payments, or even tap into your home’s equity. However, one of the most common questions homeowners have is: “How long does it take to refinance a house?” While the timeline can vary based on several factors, here’s a general overview to help you understand the process.
Home Mortgage Application: Understanding Proof of Income
Buying a new home is exciting, but it comes with a fair share of paperwork, especially when applying for a mortgage. One crucial component lenders will analyze is your proof of income. Let’s take a look at what proof of income involves, document examples, and where to find them.
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