Your credit score is far more than just a number; it is the cornerstone of your financial profile and a critical factor in the mortgage application pr...
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In the ever-evolving landscape of real estate financing, an often-overlooked option presents a unique opportunity for both buyers and sellers: the ass...
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The journey to homeownership culminates in two critical final steps: the final walkthrough and the review of the Closing Disclosure. While they occur ...
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In the journey to homeownership, securing a mortgage is a pivotal step that can feel complex and overwhelming. The experience, however, is profoundly ...
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The moment you receive the keys to your new home is a monumental achievement, but it also marks the beginning of a new financial chapter. The transiti...
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The arrival of a notice in the mail announcing that your mortgage servicing rights have been transferred to a new company can be an unsettling experie...
Read MoreThe 10-year Treasury yield is a key benchmark for fixed mortgage rates. The Fed influences it through its control of short-term rates and its forward guidance. When the Fed signals a future path of rate hikes to combat inflation, it can cause the 10-year yield to rise. When it signals rate cuts or economic concern, the 10-year yield often falls. Market expectations for inflation and economic growth, which the Fed directly influences, are baked into this yield.
When you refinance your mortgage, your old loan is paid off and the existing escrow account is closed. The remaining balance in that account will be refunded to you, usually within 30-45 days after the payoff. When you sell your home, the escrow account is closed as part of the settlement process, and any remaining funds are returned to you after the sale is finalized.
The cost varies greatly depending on the size of your yard and whether you do it yourself or hire a service.
DIY: Costs include a mower, trimmer, hose, fertilizer, and plants. Initial investment can be a few hundred dollars.
Professional Service: Can range from $50 to $200+ per month for regular mowing and basic maintenance, with additional costs for seasonal clean-ups.
Consider your:
Total Savings: Don’t drain all your accounts.
Closing Costs: Typically 2-5% of the home’s price, paid separately from the down payment.
Emergency Fund: Maintain 3-6 months of living expenses.
Moving & Initial Maintenance Costs: Budget for moving trucks, new furniture, and immediate repairs.
Debt-to-Income Ratio (DTI): Lenders use this to gauge your ability to manage monthly payments.
Large national banks often have a significant advantage in terms of the features and development budgets for their mobile apps and websites. They typically offer more advanced tools for account management, transfers, and mobile check deposit. However, many credit unions are investing heavily to close this gap.
