Author: Editorial Team

Mortgage Calculator Ohio Edition There’s a good chance that if you’re reading this you’re a homeowner or potential home buyer in the state of Ohio. If not, perhaps you’re someone just interested in how mortgages work in this state. Either way, there’s a lot to learn in this article and we’ve made it very easy. In the article to follow we have outlined how to build a mortgage calculator for Ohio in 10 easy steps. There are no shortages of mortgage calculators online. However, very few homeowners and home buyers understand how their mortgage payments are calculated. In addition to…

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Mortgage Calculator Georgia Edition There’s a good chance that if you’re reading this you’re a homeowner or potential home buyer in the state of Georgia. If not, perhaps you’re someone just interested in how mortgages work in this state. Either way, there’s a lot to learn in this article and we’ve made it very easy. In the article to follow we have outlined how to build a mortgage calculator for Georgia in 10 easy steps. There are no shortages of mortgage calculators online. However, very few homeowners and home buyers understand how their mortgage payments are calculated. In addition to…

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Mortgage Calculator Oklahoma Edition If you’re reading this you’re likely a homeowner or potential home buyer in Oklahoma, or perhaps someone just interested in how mortgages work in this state. Therefore, in the below we have outlined how to build a mortgage calculator for Oklahoma state in 10 easy steps. There are no shortages of mortgage calculators online. However, very few homeowners and home buyers understand how their mortgage payments are calculated. In addition to this, there are different expenses unique to specific states that need to be addressed. You’ll be happy to hear that the math behind mortgage calculators…

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A conforming loan is a mortgage loan that is available to the average and everyday homeowner and home buyer. Not only is it easy to qualify for, but it is also quite easy to find mortgage lenders. Many of these lenders will offer conforming loans irrespective of your credit and financial situation. This article is an overview of conforming loans, what their role is in the mortgage market, eligibility requirements, and the various pros and cons. With that, let’s dig in!What is a Conforming Loan?A conforming loan is a mortgage that is eligible to be purchased by Fannie Mae and…

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The Freddie Mac First Look Initiative is an exciting program that is part of the First Look Program. The Federal Housing Finance Agency (FHFA) launched the First Look Program in 2009. The program created the opportunity for certain constituents to buy Fannie Mae and Freddie Mac real estate owned properties before other investors. This approach provides the opportunity for these constituents to access real estate properties at more affordable prices. Brief Background on Freddie Mac Freddie Mac is a government-sponsored enterprises (GSE) that focuses on buying mortgages in the U.S. Fannie Mae is the other GSE that focuses on mortgages.…

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Oftentimes the best way to learn about something is through a classic compare and contrast. In this article the subject is Fannie Mae vs Freddie Mac! A brief history of Fannie Mae and Freddie Mac Fannie Mae’s official name is the Federal National Mortgage Association, while Freddie Mac’s official name is the Federal Home Loan Mortgage Corporation. These are two of the most important players in the mortgage industry. Fannie Mae was founded in 1938 in the midst of the great depression by an amendment to the National Housing Act. Freddie Mac wasn’t founded until 1970 through the Emergency Home…

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Down payment assistance programs are a helpful resource many home buyers overlook. One of the most challenging aspects of buying a home is the required down payment. With home prices in the United States steadily increasing through much of 2021, this burden has only gotten worse. It is truly more challenging than ever for first-time homebuyer’s to afford a down payment for their dream home. For example, lets say you’re purchasing a home with a purchase price of $370,000, which is a little lower than the median home price in the U.S. If you choose to make just a 10%…

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Mortgage interest rates continue to be at one of the lowest levels in recent history. This raises the question for many homeowners: should you refinance your mortgage? As you weigh the pros and cons of refinancing, there are many things to consider. Some homeowners refinance to lower their monthly mortgage payments by reducing their interest rates. Others hope to increase the pace at which they are paying off their mortgage principal by lowering the interest component. There are a number of good reasons why you should consider refinancing your mortgage but also some drawbacks.Before you reach out to a mortgage…

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Whether you’re on the verge of buying your first home or or just looking to learn more – congratulations! Buying and owning a home is a central component of the American dream. At the same time being a first-time home buyer can be a very daunting proposition. Buying a home will likely be one of the largest and most significant investments you make in your lifetime. As discussed in our overview of mortgages, buying a home has represented a great investment over time: All in all, while being a first-time home buyer might be unsettling, there are lots of reasons…

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