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Why More Homebuyers Now Are Turning to This Much Riskier Type of Mortgage

Realtor.com

And now one of the types of loans that defined that era is staging a comeback. More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices. So her mortgage payments were even lower than she had expected. “I Sharon Lurye for Realtor.com.

Mortgages 121
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Why More Homebuyers Now Are Turning to This Much Riskier Type of Mortgage

Realtor.com

And now one of the types of loans that defined that era is staging a comeback. More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices. So her mortgage payments were even lower than she had expected. “I Sharon Lurye for Realtor.com.

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Should You Refinance or Sell Your Home?

Windemere Selling

“Cash-out refinancing” allows you to accept a mortgage for more than your principal balance and use the extra money at your discretion. Keep in mind that refinancing your home involves getting a new mortgage, so you’ll have to go through the qualification process again. Assess your financial health and equity before you apply.

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Onto the Next: What to Know Before Selling Your Recently Purchased Home

HomeLight

If you have a mortgage on your home, your housing payment will be the same every month — but in the first couple of years, the vast majority of that overall payment will likely go toward interest and will barely touch the principal balance. Source: (Giorgio Trovato / Unsplash). What are the costs involved in selling soon after buying?

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Housing Market Trends 2022: Home Prices and Sales

Marco Santarelli

The surprising uptick in sales of new single-family houses in the United States in May is likely to be short-lived as home prices continue to rise and the average contract rate for a 30-year fixed-rate mortgage hits 6 percent, decreasing affordability. The average rate for a 15-year fixed mortgage is 4.94

Sales 98
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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? Annual percentage rate (APR). Clients may be confused about the difference between an interest rate on their mortgage loan and an APR. Got Clients With Interest Rate Questions? Fixed-rate mortgage.