16 Apr 2025
By Tawnya King

The Facts and Fictions of Reverse Mortgages

Mortagage Tips
A reverse mortgage can be a powerful financial tool for homeowners aged 62 and older, providing access to home equity without the burden of monthly mortgage payments. If you're considering this option, here’s a step-by-step guide to help you navigate the process. Steps to Secure a Reverse Mortgage Meet with a Reverse Mortgage SpecialistBefore moving forward, consult with a professional to discuss your financial goals and determine if a reverse mortgage aligns with your needs. A specialist can explain the benefits, risks, and available options to ensure you make an informed decision. Complete HUD-Approved CounselingA mandatory counseling session with a…
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15 Apr 2025
By Tawnya King

Smart Strategies for Building an Emergency Fund

Personal Finance
Life is full of unexpected expenses, from medical bills to car repairs and even job loss. Having an emergency fund in place can help protect you from financial stress and prevent you from relying on high-interest loans or credit cards. If you don’t already have one, now is the perfect time to start building your safety net.Why an Emergency Fund MattersAn emergency fund is a dedicated savings account meant to cover unexpected expenses such as: Major home or appliance repairs Car repairs or replacements Unexpected medical bills Job loss or reduced income Without savings, many people turn to credit cards…
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14 Apr 2025
By Tawnya King

What’s Ahead For Mortgage Rates This Week – April 14th, 2025

Financial Reports
Last week’s inflation reports, both the CPI and PPI, came in significantly cooler than expected. However, this must be viewed in the context of the administration’s recent tariff policies. Rather than signaling a healthy reduction in inflation, the data points to signs of deflation—which can be just as damaging to the economy as high inflation. While the FOMC Minutes offered little insight regarding interest rate changes, Federal Reserve Chairman Jerome Powell has made it clear that no action will be taken until more data becomes available. Finally, the latest consumer sentiment report dropped to its lowest level in three years,…
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11 Apr 2025
By Tawnya King

The Top 3 Home Loan Programs First-Time Buyers Should Consider

Mortgage Tips
Buying your first home is an exciting milestone, but navigating the mortgage process can feel overwhelming. With so many loan options available, it is important to choose one that best suits your financial situation and long-term goals. Here are three of the most popular home loan programs that first-time buyers should consider. 1. FHA Loan: Ideal for Buyers with Lower Credit Scores and Small Down Payments The Federal Housing Administration (FHA) loan is a popular choice for first-time buyers because of its flexible requirements. FHA loans allow for lower credit scores and smaller down payments, making homeownership more accessible. Down…
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10 Apr 2025
By Tawnya King

Why Your Mortgage Rate Isn’t the Same as the One Advertised Online

Mortgage Tips
Shopping for a mortgage can be exciting, but it can also be confusing when you see a low advertised rate online, only to be quoted a different rate when you apply. While this can be frustrating, there are several reasons why your actual mortgage rate may differ from what you initially expected. The good news is that understanding these factors can help you make informed decisions and secure the best possible rate for your financial situation. Personal Financial Profile Matters Advertised mortgage rates are typically based on ideal borrower profiles—those with excellent credit, low debt-to-income ratios, and substantial down payments.…
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09 Apr 2025
By Tawnya King

The Airbnb Factor and How Renting Out a Room Can Help You Qualify for a Mortgage

Mortgage Tips
With rising home prices and strict lending requirements, many aspiring homeowners are looking for creative ways to strengthen their mortgage applications. One potential game-changer? Renting out a room on Airbnb or another short-term rental platform. This additional income stream could help you qualify for a mortgage and make homeownership more affordable. How Lenders View Rental Income Lenders primarily assess your mortgage application based on your income, credit score, debt-to-income (DTI) ratio, and financial stability. While traditional employment income is the gold standard, many lenders are now recognizing rental income as a legitimate source of earnings. However, how they factor in…
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08 Apr 2025
By Tawnya King

How Your Netflix Subscription Might Affect Your Mortgage Approval

Mortgage Tips
When applying for a mortgage, you expect lenders to scrutinize your income, credit score, and debt-to-income ratio. But did you know that your Netflix subscription—or any other recurring expense—could play a role in your approval? While a $15-per-month streaming service may seem insignificant, lenders are increasingly looking at all aspects of your financial behavior, including discretionary spending. Here’s how something as small as your entertainment subscriptions could influence your mortgage approval. Open Banking and Subscription SpendingThe rise of open banking has allowed lenders to gain deeper insights into your financial habits. Instead of just looking at credit reports and pay…
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