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What Are The Pros And Cons Of ‘No-Deposit’ Mortgage Deals For First-Time Buyers?

August 24, 2023 by Robby Oakes

“No-deposit” mortgage deals for first-time buyers refer to mortgage options that allow buyers to purchase a home without having to put down a deposit or a down payment. Here are the pros and cons of such deals.

Filed Under: Mortgage Tagged With: Interest Rates, Loan Options, Mortgage

3 Ways To Avoid Mortgage Insurance

August 23, 2023 by Robby Oakes

When you are buying a home, you may run into a number of hurdles to complete the purchase. One of the items that you may be asked to purchase is called private mortgage insurance, often shortened to PMI. This is a unique insurance policy that your lender, such as the credit union or bank, may ask you to buy in order to protect themselves. In this insurance policy, the bank protects themselves against losing money if you end up defaulting on your loan.

Filed Under: Mortgage Tagged With: Insurance, Mortgage, PMI

What Do Appraisers Consider When Valuing a House?

August 21, 2023 by Robby Oakes

The location of the property is one of the most critical factors in determining its value. Proximity to amenities such as schools, shopping centers, parks, public transportation, and the overall desirability of the neighborhood can significantly influence the value.

Filed Under: Mortgage Tagged With: Appraisal, Home Valuation, Mortgage

Opportunities and Challenges When Buying Foreclosed Properties

August 18, 2023 by Robby Oakes

Foreclosed properties have long been considered attractive investment opportunities for real estate enthusiasts. These properties, acquired by banks or other lending institutions due to mortgage default, can often be purchased at below-market prices. However, along with the potential rewards come unique challenges that buyers must navigate.

Filed Under: Homebuyer Tips Tagged With: Foreclosure, Mortgage

Vacation Home or First Mortgage Payoff?

August 17, 2023 by Robby Oakes

Choosing between investing in a vacation home or paying off your first mortgage is not a decision to be taken lightly. Both options have their merits, and the best choice for you depends on your individual circumstances and priorities. Take the time to carefully weigh the pros and cons of each option, and if needed, consult with a financial advisor who can provide personalized guidance based on your unique situation. Remember that whichever path you choose, responsible financial planning and thoughtful consideration will lead you to a more secure and rewarding future.

Filed Under: Mortgage Tagged With: Mortgage, New Home

Avoiding Becoming House Poor: A Path to Financial Security and Balance

August 16, 2023 by Robby Oakes

As the housing market continues to evolve, it becomes increasingly crucial for aspiring homeowners to tread carefully and avoid falling into the trap of being house poor. The dream of owning a home should not come at the expense of financial stability and overall well-being. Here are some essential tips to steer clear of this precarious situation:

Filed Under: Mortgage Tips Tagged With: Finances, House Poor, Mortgage Tips

What’s Ahead For Mortgage Rates This Week – August 14, 2023

August 14, 2023 by Robby Oakes

Month-to-month inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

Disputing Your Property Tax Assessment Can Save You Money

August 10, 2023 by Robby Oakes

Property taxes can be a substantial financial burden for homeowners and property owners. Each year, local governments assess the value of properties to determine the amount of property tax owed.

Filed Under: Mortgage Tagged With: Mortgage, Property Taxes, Tax Assessments

Why Is My Mortgage Escrow Account Sending Me a Check?

August 9, 2023 by Robby Oakes

Various factors can lead to fluctuations in these estimated expenses. If the actual costs turn out to be lower than anticipated, your escrow account may end up with an excess balance, resulting in a refund check being sent to you.

Filed Under: Mortgage Tagged With: Escrow Account, Escrow Account Audit, Mortgage

Understanding the Distinction Between Mortgage Interest Rates and APR

August 8, 2023 by Robby Oakes

This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently.

Filed Under: Mortgage Rates Tagged With: APR, Mortgage, Mortgage Rates

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Robby Oakes


Robby Oakes

CIMG Managing  Director
NMLS# 91606

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