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The Pros and Cons of Mortgage Assumptions

August 15, 2025 by Robby Oakes

When purchasing a home, buyers typically assume a new mortgage loan. However, in some situations, a buyer may opt to assume the seller’s existing mortgage. Known as a mortgage assumption, this process allows the buyer to take over the terms and payments of the seller’s current loan. While mortgage assumptions can offer benefits, they also come with certain drawbacks. Understanding the pros and cons of mortgage assumptions can help you determine whether this option is right for you.

Filed Under: Mortgage Tips Tagged With: Home Loans, Mortgage Assumptions, Mortgage Options

The Impact of Bankruptcy on Mortgage Eligibility

August 14, 2025 by Robby Oakes

Going through bankruptcy can be a challenging and stressful process. However, it s important to understand how bankruptcy may affect your ability to secure a mortgage in the future. Bankruptcy, whether Chapter 7 or Chapter 13, can significantly impact your credit score and financial history, both of which are critical factors when applying for a mortgage. Despite this, it’s possible to obtain a mortgage after bankruptcy, though the path may be a bit more complicated.

Filed Under: Mortgage Tips Tagged With: Bankruptcy, Home Loans, Mortgage Eligibility

The Benefits of Paying Points on Your Mortgage

August 13, 2025 by Robby Oakes

When you take out a mortgage, you may be given the option to pay points in exchange for a lower interest rate. A mortgage point, also known as a discount point, is equal to 1% of the loan amount. For example, if you re financing $200,000, one point would cost $2,000. While paying points means you ll pay more upfront, it can offer long-term savings. Understanding the benefits of paying points on your mortgage can help you decide if it’s the right move for you.

Filed Under: Mortgage Tips Tagged With: Home Loans, Mortgage Points, Mortgage Tips

Cash-Out Refinance vs. Rate-and-Term Refinance: Which One Is Right for You?

August 12, 2025 by Robby Oakes

When considering refinancing your mortgage, two main options often come to the forefront: Cash-Out Refinance and Rate-and-Term Refinance. Both allow you to change the terms of your mortgage, but they serve different purposes and have distinct advantages. Understanding the differences between these two refinancing options is crucial to making an informed decision that best aligns with your financial goals.

Filed Under: Mortgage Tips Tagged With: Home Loans, Mortgage Refinance, Refinancing Options

What’s Ahead For Mortgage Rates This Week – August 11th, 2025

August 11, 2025 by Robby Oakes

There were several notable releases this last week, with the largest being the PCE Index — the Federal Reserve’s preferred inflation indicator. The PCE Index may be the more accurate indicator going forward, as data collection for the Consumer Price Index has been recently cut, thereby reducing its reliability. As expected, the inflation numbers have been steadily rising with the PCE Index, indicating that impacts from the tariffs are now filtering into prices for both producers and consumers.

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

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Robby Oakes


Robby Oakes

CIMG Managing  Director
NMLS# 91606

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