Refinance Right: Expert Mortgage Tips | #CityFirstMortgage
Check your financial health, focusing on credit score and debt-to-income ratio.
Understand your home equity, including how much you’ve built up and its current appraised value.
6% Could Be the New Normal for Mortgage Rates | #CityFirstMortgage
Association of Realtors, mortgage rates are likely to stabilize ~6%.
The long-term avg for mortgage rates is ~7%, indicating that the current rates are not abnormally high.
Hunt for Your Dream Home: Tips | #CityFirstMortgage
Community amenities enhance your living experience, making a neighborhood truly exceptional and welcoming.
A clubhouse serves as the social hub, perfect for events and fostering neighborly connections.
Maximize Investment: Top Real Estate Tips | #CityFirstMortgage
Assess building type and market trends before investing in commercial Real Estate.
E-commerce growth increases demand for industrial warehouses and multi-family apartments.
How Much Does a Mortgage Broker Charge in Fees? | #CityFirstMortgage
Some brokers charge an upfront fee, others are 'fee-free' and earn commission from lenders.
Is paying a broker worth it?
Fees secure low-cost, exclusive deals, specializing in self-employed or bad credit cases.
Portable Mortgage: What It Is, How It Works | #CityFirstMortgage
A portable mortgage lets you transfer your home loan to a new property with the same lender and terms.
To port a mortgage, you need a portability clause in your agreement, and you must qualify for the new loan.
Save money on mortgage interest with this payment strategy
13News investigated a social media post suggesting a mortgage payment hack. Making biweekly payments instead of monthly can save money and time on a mortgage. Loan officer Audrey McClelland confirmed this method can reduce interest and shorten the loan term. For example, on a $475,000 loan at 7%, switching to biweekly payments could save around $169,000 and shorten the term to about 24 years. This strategy is recommended for discussion with your lender.
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Rent or Own? The Path to Owning Your Home | #CityFirstMortgage
Weigh Flexibility vs. Investment: Renting offers flexibility, while buying builds equity and offers tax benefits.
Consider Long-Term Stability: Buying is better if you plan to stay in one place for many years.
Next 12-Month Mortgage Rate Forecast | #CityFirstMortgage
Mortgage rates expected to decrease each quarter from Q3 2024 to Q2 2025.Q3 2024: Avg mortgage rate projected at 6.83%
Breaking a lease won’t appear on your credit report
American Express benefits and offers can be found on their website. Breaking a lease may occur due to job relocation or financial struggles. Unpaid debt from a broken lease can harm your credit if reported to a collection agency. To prevent this, pay termination fees and outstanding charges. Communicate with your landlord about financial hardships and negotiate fees. Propose finding a new tenant or consider subletting to avoid penalties. Maintaining a good credit score is crucial for future financial opportunities.
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