An In-Depth Look at Cash-Out and Rate-and-Term Mortgage Refinancing

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According to a study by the Federal Reserve Bank of New York, American homeowners took out $8.4 trillion in new mortgages over the last couple of years. That’s more than a third of our country’s total GDP! One of the main reasons why this occurred is because countless Americans sought to refinance their mortgages in a bid to…

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Why Is It Worth Hiring Mortgage Brokers?

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Do you know why the 2007-2009 Global Financial Crisis (GFC) occurred? Housing demand skyrocketed because irresponsible mortgage lenders gave out loans to borrowers without properly considering their default risk. As a result, house prices shot up artificially before the housing bubble popped due to mass defaults—and this changed the game for mortgage brokers forever. Fast-forward to today,…

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Commercial vs. Residential Buildings: Which Ones Make for Better Investment Properties?

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Investing in property for the first time can be quite daunting. You need to ask various questions, perform comprehensive research, and determine which investment property is the most lucrative option. Different assets have different characteristics and their own sets of risks and benefits. As a first-time investor, you may have various questions,and it’s important to…

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How Do Mortgage Consultants Impact the Standard of Living in New York City?

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Obtaining a mortgage loan is one of the most arduous steps of the home-buying process. It requires comprehensive research, preparing applications, and checking out different mortgage products. This is where mortgage brokers come in. A mortgage broker simplifies the complex process of getting a mortgage by connecting investors and homebuyers with appropriate loans and guiding them…

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Which Home Loans Are Offered for Each FICO Score Tier?

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Have you ever heard of the term “FICO Score?” It’s a three-digit number that represents your spending habits and ability to pay back loans. FICO scores are one of the most common criteria mortgage consultants use to evaluate whether to issue someone a home loan. But what type of mortgage loans are offered to borrowers…

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