Loan calculator – Alba Ruthenicae http://albaruthenicae.info/ Sat, 25 Sep 2021 20:10:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://albaruthenicae.info/wp-content/uploads/2021/07/icon-2021-07-06T145847.214-150x150.png Loan calculator – Alba Ruthenicae http://albaruthenicae.info/ 32 32 Carvana launches delivery service in Springfield, Joplin http://albaruthenicae.info/carvana-launches-delivery-service-in-springfield-joplin/ http://albaruthenicae.info/carvana-launches-delivery-service-in-springfield-joplin/#respond Sat, 25 Sep 2021 17:28:00 +0000 http://albaruthenicae.info/carvana-launches-delivery-service-in-springfield-joplin/ SPRINGFIELD, Mo. (KY3) – Carvana, an online-only used car retailer, is establishing a footprint in southwest Missouri. Carvana now offers door-to-door car delivery the next day to residents in the Springfield and Joplin areas. The company announcement its expansion into both Missouri markets earlier this week. With Carvana, customers can buy more than 45,000 used […]]]>

SPRINGFIELD, Mo. (KY3) – Carvana, an online-only used car retailer, is establishing a footprint in southwest Missouri.

Carvana now offers door-to-door car delivery the next day to residents in the Springfield and Joplin areas. The company announcement its expansion into both Missouri markets earlier this week.

With Carvana, customers can buy more than 45,000 used cars for sale and schedule next day delivery of the vehicle within five minutes. Customers can also sell their current vehicle to Carvana and receive a real offer just as quickly, without even purchasing a vehicle.

“We have steadily grown our presence in Missouri since launching our first market in the state in 2017, and we are delighted to now offer next day vehicle delivery to even more customers,” said Ernie Garcia, founder of Carvana. and CEO in a press release. “We are confident residents of the Springfield area will appreciate the ease and convenience of The New Way to Buy a Car. “

Carvana is present in more than 300 markets in the United States. The company now operates seven markets in Missouri with expansion to Springfield and Joplin.

The company also offers a loan calculator and a trade-in estimator for future clients. For more information about Carvana and its services, CLICK HERE.

To report a correction or typo, please send an email digitalnews@ky3.com

Copyright 2021 KY3. All rights reserved.


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Mortgage and real estate news this week http://albaruthenicae.info/mortgage-and-real-estate-news-this-week/ http://albaruthenicae.info/mortgage-and-real-estate-news-this-week/#respond Sat, 25 Sep 2021 04:08:39 +0000 http://albaruthenicae.info/mortgage-and-real-estate-news-this-week/ Bankrate follows a strict editorial policy, so you can be sure that we put your interests first. Our award-winning editors and journalists create honest, accurate content to help you make the right financial decisions. The key principles We appreciate your trust. Our mission is to provide readers with accurate and unbiased information, and we’ve put […]]]>

The weather may be getting colder, but the housing market remains warm – for now. As the Fed signals that higher interest rates could be on the horizon, here’s what you need to know in these days of the declining real estate economy.

1. The role of the Fed in the mortgage market

Much depends on the Fed chairman’s monthly remarks, including how much mortgage borrowers are paying in interest. Federal Reserve policy indirectly affects mortgage rates by setting loan prices for the banks themselves. And it’s not just primary mortgage rates, either. Fed policies also influence interest on secondary mortgage products like home equity loans and HELOCs, as well as less common types of loans like ARMs. Here is what you need to know.

Read articles on primary mortgages and other mortgage products.

2. The refi window remains open

Although mortgage rates edged up this week, the Fed hasn’t signaled any imminent policy change, so borrowing costs are still near all-time lows. Take advantage of these attractive rates while they are still available. And discover our new refinancing calculator that does the job for you.

Read the story.

3. The valuation gap for black houses

Black-owned properties generally appreciate more slowly than comparable white-owned homes, which contributes to the ongoing racial wealth gap. It’s a well-documented problem, and one in the entire housing industry says it’s taking action to address it.

Read the story.

4. Rent and your credit rating

In an effort to make homeownership an option for more Americans, Fannie Mae now allows tenants to include their payment history as a measure of their creditworthiness. Historically, rent payments have not contributed to the credit rating of tenants.

Read the story.

5. Main signs of structural problems in your home

There are three main categories of warning signs that your home is in dire need of mechanical maintenance. Even if you aren’t planning on buying or selling a property anytime soon, these are good things to watch out for for all potential homeowners and buyers.

Read the story.


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Current refinancing rates, September 24, 2021 | Prices increase http://albaruthenicae.info/current-refinancing-rates-september-24-2021-prices-increase/ http://albaruthenicae.info/current-refinancing-rates-september-24-2021-prices-increase/#respond Fri, 24 Sep 2021 12:15:01 +0000 http://albaruthenicae.info/current-refinancing-rates-september-24-2021-prices-increase/ Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. Today, a few closely watched mortgage refinancing rates have increased. The 15-year and 30-year […]]]>

We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money.

Today, a few closely watched mortgage refinancing rates have increased.

The 15-year and 30-year fixed rates have seen their average rates increase. The average rate for 10-year fixed-rate refinance mortgages has gone down.

Mortgage refinancing rates are constantly fluctuating. However, they are currently very low. For those looking to refinance their existing mortgage, this may be the right decision to lock in a lot on an interest rate.

The average mortgage refinancing rates are as follows:

You can find the refinancing rate that’s right for you here.

What this means for owners

While refinancing rates remain close to 3%, homeowners who were waiting to refinance still have a chance to potentially save with a new home loan. However, the refinancing fees normally range from 3% to 6% of the loan amount. So make sure you save more in the long run than you pay up front. And it’s important to know that even a “no closing cost” refinance still has fees, but instead of paying them up front, they are added to your loan.

Fixed refinancing rates over 30 years

Currently, the 30-year average fixed refinance has an interest rate of 3.01%, an increase of 4 basis points from the previous week.

You can use our mortgage calculator to figure out how much your mortgage will cost you each month and find out how much less interest you will pay by making additional payments. Our mortgage calculator will also tell you how much interest you will be charged over the life of the loan.

15-year average fixed refinancing rates

Currently, the average rate for a 15-year fixed refinance loan is 2.28%, an increase of 1 basis point from the previous week.

Monthly payments on a 15-year refinance loan are more difficult to fit into a monthly budget than a 30-year mortgage payment would be. However, a shorter loan term can help you build equity in your home much faster.

10-year refi rate

The 10-year average fixed refinancing rate is 2.25%, down 1 basis point from the rate observed the previous week.

Monthly payments with a 10-year refinance term would cost even more than what you would pay with a 15-year loan. The advantage is that you will end up paying even less interest over the life of the loan.

Mortgage refinancing rate trends

Currently, refinancing rates are extremely low compared to recent history of mortgage rates. Rates have been equal to or less than 3% since April 2021, depending on Freddie Mac Weekly Poll.

Even with a moderate increase, rates could still remain favorable to borrowers. Experts believe rates will remain low throughout 2021, and much later this year rates are more likely to rise steadily. The evolution of long-term refinancing rates will depend on general factors, such as inflation and our economic recovery.

How we calculate our refinancing rates

The table below shows how the refinance rates have changed over the past week.

These daily refinancing rates are provided by Bankrate. The information is based on consumers who fit a certain profile, such as the loan is for a primary residence and their FICO score is 740 or higher. You will therefore be able to benefit from different rates if your financial situation does not correspond to the criteria of the survey.

Bankrate is owned by Red Ventures, the parent company of Nextadvisor.

Prices as of September 24, 2021.

Take a look at the mortgage refinance rates for a number of different loans.

Is it still a good time to refinance?

The past year has historically been a great time to refinance as rates have never been so low. However, since January, mortgage rates have climbed and crossed the 3% threshold for the first time since last summer.

Even though the days of record refinancing rates are behind us, it is still a great time for many homeowners to refinance. If you can lock in today’s rates that are just north of 3%, you get a deal near the historic low.

So there is still time to save with a refinance, but this window is closing. Many experts predict that rates will continue to rise as the economy returns to pre-pandemic levels over the next year.

How to get the best refinance rate

Your personal situation has a big impact on the refinancing rate you can get. Having more equity in your home and a better credit rating usually translates into a better mortgage refinance rate.

But your personal financial situation is not the only factor that influences the refinancing rate for which you are eligible. A lower loan-to-value ratio (LTV) will help you get a lower refinance rate. So it is better to have more equity. Having at least 20% equity in your property is ideal.

The type of mortgage loan will affect your interest rate. A loan with a shorter repayment term generally has lower interest rates than loans with longer repayment terms, all other things being equal. Also, if you want to turn your equity into cash with cash out refinancing, you will have to pay a higher interest rate than other types of refinancing.

Average cost of refinancing

The cost of refinancing can vary widely depending on these factors:

  • Where is the property
  • Type of refinancing loan
  • Your lender
  • Amount of the loan
  • FICO score
  • Home equity

Typically, the refinancing closing costs are 3-6% of the loan balance. The type of loan you refinance can impact its cost in a number of ways. Some government-backed refinance loans, such as the FHA Streamline or the VA Interest Rate Reduction Refinance Loan (IRRRL) may not require appraisal, but may come with high upfront fees to cover mortgage insurance. On the other hand, if you have enough equity, you could refinance into a conventional loan to eventually get rid of the mortgage insurance requirement.

Current mortgage rates by type of loan

Mortgage refinancing rate

Mortgage purchase rate


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National Loans Shares Top Tips For Getting Car Loan Approved http://albaruthenicae.info/national-loans-shares-top-tips-for-getting-car-loan-approved/ http://albaruthenicae.info/national-loans-shares-top-tips-for-getting-car-loan-approved/#respond Thu, 23 Sep 2021 23:10:23 +0000 http://albaruthenicae.info/national-loans-shares-top-tips-for-getting-car-loan-approved/ News and research before you hear about it on CNBC et al. Claim your 1-week free trial for StreetInsider Premium here. MELBOURNE, Australia, September 24, 2021 (GLOBE NEWSWIRE) – According to a leading financial broker, National loansA borrower’s credit report plays an important role in the auto finance approval process. Lenders will look at a […]]]>

News and research before you hear about it on CNBC et al. Claim your 1-week free trial for StreetInsider Premium here.


MELBOURNE, Australia, September 24, 2021 (GLOBE NEWSWIRE) – According to a leading financial broker, National loansA borrower’s credit report plays an important role in the auto finance approval process. Lenders will look at a potential borrower’s credit report when they apply for a car loan or other asset financing, including motorcycle financing, using the information to determine a credit score. A bad credit history increases the likelihood that the application will be rejected.

National Loans explains that there are things a borrower can do to improve their credit rating, such as paying off all unpaid debts by making more than the minimum monthly repayment, paying bills and other repayments on time, and avoiding to make several credit requests over a short period. of time.

Saving on a larger deposit will also work in the borrower’s favor, according to National Loans. Applying for a smaller loan makes a borrower less risky, which improves their chances of being approved. Moreover, it can also reduce the monthly repayments and the rate applied on the loan.

Other options for people with poor or limited credit history include asking a relative or friend to vouch for the loan. National Loans states that the guarantor needs a good credit history and a stable income. Borrowers should also only apply for loans they can afford, as lenders will look at their income and expenses to help make an assessment. National Loans offers an auto loan calculator on their website that borrowers can use to calculate the numbers. The costs of running and maintaining the car should be factored into the budget.

As National Loans points out, there are different types of auto loans, including secured or unsecured, fixed or variable rate. Lump sum auto loans are another option. It is important that borrowers choose the right type of loan that is right for their situation.

As an expert broker, National Loans can help borrowers get initial approval on financing applications, like balloon auto loans, even if their credit score is not perfect.

National Loans is the trusted expert in auto loans and asset finance, working with Australia’s leading lenders to provide low rate auto loans and fast approvals to borrowers. For a free quote, contact National Loans.

MELBOURNE (HEAD OFFICE)

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Image 1: National loans National loans

This content was published through the press release distribution service on Newswire.com.

National loans

National loans

Source: National Loans


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TRUiC explains the different types of commercial loans http://albaruthenicae.info/truic-explains-the-different-types-of-commercial-loans/ http://albaruthenicae.info/truic-explains-the-different-types-of-commercial-loans/#respond Thu, 23 Sep 2021 07:00:00 +0000 http://albaruthenicae.info/truic-explains-the-different-types-of-commercial-loans/ Business loans can play a central role in: a) exploiting long-term business growth opportunities, b) resolving disputes or cash flow issues that arise, and c) increasing the overall value of the business. ‘a company. That said, the wide range of business loans available means that, depending on the specifics and structure of your business, some […]]]>

Business loans can play a central role in: a) exploiting long-term business growth opportunities, b) resolving disputes or cash flow issues that arise, and c) increasing the overall value of the business. ‘a company.

That said, the wide range of business loans available means that, depending on the specifics and structure of your business, some types of business loans may be more suitable than others.

The reasons for getting a business loan can also vary widely, from wanting to buy or upgrade a business’s equipment to investing in real estate.

The Really Useful Information Company (TRUiC) recently produced an online guide that accurately and thoroughly delineates the variety of business loans that businesses are currently able to use.

SBA 7 (a) Small Business Loans

SBA 7 (a) small business loans are loans legally guaranteed by the Small Business Administration.

Obtaining such loans usually involves liaising with potential lenders who can then assess a company’s financial position and determine whether it meets the relatively strict prerequisites for obtaining an SBA 7 (a).

Generally, SBA 7 (a) loans tend to be perfect for small business owners and start-ups that may not have the required credit rating to acquire sufficient investment capital by business owners. other means or financial investors.

TRUiC briefly outlined the legal requirements that businesses will need to meet if they are to obtain SBA 7 (a) loans, including (but not limited to) businesses that:

  • Operate for profit (non-profit organizations are not eligible).
  • Operate in the United States (or its territories).
  • Meet the definition of “small business” as defined by the Small Business Administration.
  • Have already achieved a high level of invested equity.
  • Demonstrate an adequate need for a commercial loan within the framework of their specificities.

Business owners can also choose to plan their business financing strategy with the help of Obsidian Bear Funding Course.

Working capital loans

Working capital loans are mainly granted through conventional banks; Unlike SBA 7 (a) loans, commercial working capital loans can be made for virtually any business purpose. One of the biggest advantages of working capital loans according to TRUiC is that business owners are only required to pay interest on the capital they use pragmatically, not on the total amount borrowed.

This means that business owners (overall) can maintain a much higher degree of security, predictability, and flexibility.

Additional benefits include:

  • The ability to borrow and repay principal extremely quickly and without much fun.
  • The ability to maintain the same ownership structure of the business; there is no obligation to sell a share of a business owner’s company in exchange for funds.
  • The ability to avoid collateral damage, as business owners do not have to personally “gamble” on their own assets in the event of insolvency.

Microcredits

Microcredits generally concern small business loans that vary between $ 5,000 and $ 50,000 USD; this means that (usually) business owners interested in acquiring microloans usually rely on non-profit organizations or government agencies rather than conventional banks which rarely provide such loans to “small” businesses. .

The Small Business Administration (briefly introduced above) offers microloans through a relatively straightforward process, involving a very low number of legal preconditions. The most important are that: a) lenders do not use the amount of the acquired microcredit to refinance other existing debts that they own, and b) they do not use the microcredit to purchase real estate.

Commercial term loans

As TRUiC explains in its guide, a business term loan is virtually the epitome of a “classic” business lending process. These are companies that borrow capital from an established financial institution, such as a bank or venture capital firm, which is fully returned and repaid over several different time intervals over a long-term period. previously agreed and defined.

Business term loans can offer a plethora of benefits for small business owners, including increased business credit score protection, relatively quick financing, and no additional debt on the balance sheet.

One last take

The above list (which is based on TRUiC’s in-depth analysis) provides an excellent, primitive description of the majority of the most common types of business loans in 2021.

With that said, business owners should always do their own market research before applying for a business loan as there is a plethora of things to consider which will be based on the specific industry and business entity structure. from a company.

TRUIC Business loan calculator can ensure that start-ups are fully prepared to take the necessary steps to repay their loans adequately and on time in the future by providing them with all the relevant information they will need.


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Carvana Expands Missouri Presence With Springfield Launch http://albaruthenicae.info/carvana-expands-missouri-presence-with-springfield-launch/ http://albaruthenicae.info/carvana-expands-missouri-presence-with-springfield-launch/#respond Wed, 22 Sep 2021 11:37:39 +0000 http://albaruthenicae.info/carvana-expands-missouri-presence-with-springfield-launch/ SPRINGFIELD, Missouri – (COMMERCIAL THREAD) – Carvana, the leading ecommerce platform for buying and selling used cars, today announced that it now offers contactless next day home delivery to area residents from Springfield. Customers can buy over 45,000 used cars for sale, get auto financing or use the auto loan calculator, buy, trade in and […]]]>

SPRINGFIELD, Missouri – (COMMERCIAL THREAD) – Carvana, the leading ecommerce platform for buying and selling used cars, today announced that it now offers contactless next day home delivery to area residents from Springfield. Customers can buy over 45,000 used cars for sale, get auto financing or use the auto loan calculator, buy, trade in and schedule next day vehicle delivery in as little as five minutes. Customers can also sell their current vehicle to Carvana and receive a real offer just as quickly, without even purchasing a vehicle.

Carvana has pioneered online car shopping, including its patented 360-degree vehicle virtual tour, where customers can view vehicles in high-definition, 360-degree photography, inside and out. outside. Carvana vehicles have passed a rigorous 150-point inspection, have never had a reported accident, and sustained no frame damage. Features, imperfections, and updated information on open safety recalls are listed on each car’s vehicle description page.

Carvana can save customers time and money, allowing them to skip the concession and shop from the comfort of their home or on the go via their mobile device. Vehicles come with a seven day return policy and this upgrade to the traditional test drive gives customers a week to live with their vehicle, see if it’s roomy enough for family outings or how it handles. daily trips.

Customers who wish to trade in their vehicle or sell a vehicle can also skip the dealership by simply entering their VIN or license plate number on Carvana.com, answering a few questions, then Carvana can pick up the vehicle and bring them a check, the next day.

“We have steadily grown our presence in Missouri since launching our first market in the state in 2017, and we are delighted to now offer next day vehicle delivery to even more customers,” said Ernie Garcia, founder of Carvana. and CEO. “We are confident residents of the Springfield area will appreciate the ease and convenience of The New Way to Buy a Car®. ”

Carvana Now Offers Next Day Vehicle Delivery to Customers in 306 U.S. Cities

About Carvana

Founded in 2012 and based in Phoenix, Carvana’s mission is to change the way people buy and sell cars. By removing the traditional dealer infrastructure and replacing it with exceptional technology and customer service, Carvana offers consumers an intuitive and convenient online car buying, selling and financing platform. Carvana.com allows consumers to quickly and easily purchase over 45,000 vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts, and schedule next day delivery or pickup in the city. ‘one of Carvana’s patented systems, Car Vending Machines. Carvana is a Fortune 500 company, providing overnight delivery to customers in over 300 US markets.

For more information about Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram, Twitter or the Carvana blog.

Contacts

Carvana
Amy O’Hara
press@carvana.com


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Focus on Suffolk: Housing options dwindle in the county http://albaruthenicae.info/focus-on-suffolk-housing-options-dwindle-in-the-county/ http://albaruthenicae.info/focus-on-suffolk-housing-options-dwindle-in-the-county/#respond Tue, 21 Sep 2021 16:05:24 +0000 http://albaruthenicae.info/focus-on-suffolk-housing-options-dwindle-in-the-county/ (Courtesy photo) “LI HOUSE PRICES GO UP, GO UP, GO UP,” Newsday’s front page headline said last week. The article began: “House prices hit a new high in Suffolk County… Median house prices jumped to $ 535,000 in Suffolk last month…” And it was $ 10,000 more than what Peter J. Elkowitz Jr., president and […]]]>

“LI HOUSE PRICES GO UP, GO UP, GO UP,” Newsday’s front page headline said last week. The article began: “House prices hit a new high in Suffolk County… Median house prices jumped to $ 535,000 in Suffolk last month…”

And it was $ 10,000 more than what Peter J. Elkowitz Jr., president and CEO of the Long Island Housing Partnership, said the average price of a house in Suffolk had just increased. He was doing a presentation earlier in the month before Long Island Metro Business Action on “Affordable Housing, Opportunities and Barriers”.

Suddenly, this is an even bigger obstacle to finding affordable accommodation in Suffolk. That figure of $ 535,000 is less than half the median price of $ 1.4 for a home on Shelter Island.

What existing government programs are available to people seeking help buying a home in Suffolk?

At the federal level, there is the Federal Housing Administration, now part of the US Department of Housing and Urban Development, “which has been helping people become homeowners since 1934,” notes the HUD website. “How do we do this?” Because the FHA “insures the loan… your lender may give you a better deal,” she says.

And with an FHA loan, there are “low down payments”. He continues, “Buying your first home? FHA could be exactly what you need. Your down payment can be as low as 3.5% of the purchase price. And there are “low closing costs, easy credit eligibility.”

We got an FHA loan to buy our first home decades ago in Suffolk for $ 19,000. Our 30-year FHA guaranteed 3% mortgage costs $ 200 per month. But for a home in the now median range of $ 535.00 in Suffolk, getting a mortgage is tough.

Even with currently low bank interest rates, for a 30-year mortgage at 3%, payments would be $ 2,108 per month, according to the online “Mortgage Calculator”.

As for Shelter Island, a 30-year 3% mortgage for $ 1.2 million (after a $ 200,000 down payment for this house at the median price of $ 1.4 million) would be $ 5,059 per month, or more than $ 1,000 per week.

Various websites market homes on which homeowners have been unable to meet their mortgage payments and have therefore been foreclosed. “Homes starting at $ 10,000”, several websites presenting such a housing request.

But in those areas, there are no homes that have foreclosed on mortgages even near that price. I entered Shelter Island on onforeclosure.com and what happened was a house for $ 725,000.

As for state programs, the HUD website describes “Resources” and under “Home Ownership: New York” are the encouraging words: “Owning a home is a big part of the American dream. There is a section on “Getting started,” which notes that in New York State there are “assistance programs – resources and programs to help you buy and maintain a home.”

One is managed by the New York State Mortgage Agency, which describes itself as offering “low interest mortgage loans and programs to help qualified buyers buy their first homes.” SONYMA provides access to affordable homeownership by removing many barriers faced by first time home buyers. Whether it’s improving your understanding of the overall home buying process or helping secure the funds for a down payment, SONYMA is with you every step of the way.

Regarding Suffolk, its government website states: “The County of Suffolk operates several programs to support and encourage the creation of affordable housing and manpower through the Department of Economic Development and Planning and Suffolk County Housing Opportunities Programs. ”

These include the County’s Affordable Housing and Workforce Land Acquisition Program, in which it “partners with developers… and will reimburse the developer for infrastructure costs once the project is completed. construction completed to reduce the cost burden and allow developers to charge less for rent or purchase price for new units built or rehabilitated. Eligible infrastructure improvements include, but are not limited to, roads, parking, sewers, water, sidewalks, street lighting and ancillary landscaping in the development area.

Then there is the County Section 72 (h) Affordable Housing Transfer Program. It provides that “the county will transfer plots currently in the county’s real estate inventory” – taken due to non-payment of taxes – “to municipalities for the construction or rehabilitation of affordable housing”.

Jim Morgo recounted last week how he “came up with the concept” in 1987 as Suffolk County’s deputy executive for housing. “Since then, countless properties – the most expensive parts of building homes – have moved from county to towns and villages, then to groups like Habitat for Humanity and the Long Island Housing Partnership at no cost, and homes affordable have been created. on these transferred properties.

More next week on affordable housing in Suffolk County.


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Current refinancing rates, September 21, 2021 | Prices increase http://albaruthenicae.info/current-refinancing-rates-september-21-2021-prices-increase/ http://albaruthenicae.info/current-refinancing-rates-september-21-2021-prices-increase/#respond Tue, 21 Sep 2021 12:15:03 +0000 http://albaruthenicae.info/current-refinancing-rates-september-21-2021-prices-increase/ Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. Today, several closely watched mortgage refinancing rates have increased. The 15-year and 30-year fixed […]]]>

We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money.

Today, several closely watched mortgage refinancing rates have increased.

The 15-year and 30-year fixed rates have seen their average rates increase. And average rates for 10-year fixed refinances have also increased.

Refinancing interest rates are constantly changing. However, they are currently low, potentially making them a good deal for borrowers. For those looking to refinance their existing mortgage, this can be a great opportunity to lower your interest rate.

Take a look at today’s refinance rates:

Take a look at the local refinance rates.

What this means for owners

If you haven’t refinanced in the past few years, rates are still historically low, so it’s worth thinking about. But the decision to refinance isn’t just about the rate, there are also closing costs to consider. So make sure you plan to stay in your home long enough that the interest savings outweigh the costs. And remember, even if you don’t pay anything out of pocket, the refinancing closing costs are usually added to your loan balance. So you pay it one way or another.

30-year average refinancing rates

Currently, the 30-year average fixed refinance has an interest rate of 3.03%, an increase of 4 basis points from the previous week.

You can use our mortgage calculator to calculate the price of your monthly mortgage payments and to understand how paying more each month will impact your mortgage. Our mortgage calculator will also tell you how much interest you will be charged over the life of the loan.

Refi rates fixed over 15 years

For fixed 15-year refinances, we see an average rate of 2.31%, an increase of 2 basis points compared to the previous week.

The monthly payments on a 15-year refinance loan can be much higher than what you would get on a 30-year mortgage. However, a shorter loan term can save you thousands of dollars in interest over the life of the loan.

10-year average fixed refinancing rates

The 10-year average fixed refinance rate is 2.28%, an increase of 1 basis point from what we saw last week.

Monthly payments with a 10-year refinance term would cost a lot more per month than with a 15-year term, but you’ll pay less interest in the long run.

Mortgage refinancing rate trends

Right now, refinance rates are extremely low compared to historical mortgage rates. Rates have hovered around 3% since April 2021, according to Freddie Mac Weekly Poll.

Even though we have seen refinance rates climb higher, borrowers will likely still have access to favorable rates. Experts believe that rates will remain low throughout 2021, and that in the second half of 2021, rates are more likely to rise steadily. Whatever happens with long-term refinancing rates will depend on general factors, such as inflation and our economic recovery.

How we calculate our refinancing rates

The table below shows where refinancing rates were heading over the past week.

These refi rates are provided by Bankrate. The information is based on borrowers who meet specific criteria, such as the loan is for a primary residence and their FICO score is 740 or higher. If your personal situation does not meet or exceed the guidelines of this survey, you will likely be eligible for higher refinance rates than those listed.

Bankrate is owned by Red Ventures, the parent company of Nextadvisor.

Prices as of September 21, 2021.

Take a look at the mortgage refinance rates for a number of different loans.

Should I refinance now?

Record refinancing rates have led to an increase in mortgage refinancing over the past year. But as interest rates rebounded from their historic lows, the number of borrowers looking to refinance began to decline.

However, even with the downturn, interest in mortgage refinancing remains higher than it was before the pandemic brought rates down. In fact, refinancing rates hover at just over 3%, which historically remains a good deal, even if it is higher than recent lows.

As we turn our backs on record interest rates, many borrowers are still able to save with refinancing. But many experts predict that rates will continue to rise through 2021. So it’s reasonable to expect refinancing to become more expensive for borrowers as the year progresses.

How to get the best refinance rate

Your finances have a big effect on the refinancing rate you can get. A lower loan-to-value ratio for your home and a better credit rating will generally allow you to get a lower mortgage refinance rate.

Your personal finances are not the only thing that will affect the mortgage refinancing rates available to you. The amount of equity you have in the property also comes into play. Having at least 20% equity in your property is ideal.

The type of mortgage loan affects your mortgage refinance rate. A loan with a shorter repayment term generally has better interest rates than a loan with longer terms. The type of refinancing you need makes a difference in the interest rate. Withdrawal mortgage refinance loans generally have higher mortgage refinance rates than other loans.

How much does refinancing cost?

When you refinance a mortgage, the closing costs typically range from 3% to 6% of the loan amount. So, for a loan of $ 300,000, you can expect to pay $ 9,000 to $ 18,000 in closing costs.

There are a number of factors that different lenders take into consideration when assessing your situation. Compare your options and shop. Everything from the location of the home to the type of loan you are refinancing can affect your upfront costs.

Mortgage interest rates by type of loan

Mortgage refinancing rate

Interest rate for the purchase of a house


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September 20, 2021 – Loan rate drop – Forbes Advisor http://albaruthenicae.info/september-20-2021-loan-rate-drop-forbes-advisor/ http://albaruthenicae.info/september-20-2021-loan-rate-drop-forbes-advisor/#respond Mon, 20 Sep 2021 19:05:55 +0000 http://albaruthenicae.info/september-20-2021-loan-rate-drop-forbes-advisor/ Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. Last week, the average interest rate on refinanced student loans fell. Borrowers interested in refinancing their student loans can still benefit from relatively low interest rates. […]]]>

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

Last week, the average interest rate on refinanced student loans fell. Borrowers interested in refinancing their student loans can still benefit from relatively low interest rates.

The average fixed interest rate on a 10-year refinance loan was 3.49% from September 13 to 17. This is for borrowers with a credit score of 720 or higher who have prequalified on Credible.com’s student loan market. The average interest rate on a five-year variable rate loan was 2.95% among the same population, according to Credible.com.

Related: Best Student Loan Refinance Lenders

Fixed rate loans

Last week, the average fixed rate on 10-year refinance loans fell 0.01% to 3.49%. The previous week, the average was 3.50%.

Because fixed interest rates stay the same for the life of a borrower’s loan, it is possible to lock in a rate that is significantly lower than what you would have received at the same time last year. The average fixed rate on a 10-year refinance loan at this time last year was 4.12%, 0.63% higher than the current rate.

A borrower who refinances $ 20,000 in student loans at the current average fixed rate would pay about $ 198 per month and about $ 3,721 in total interest over 10 years, according to the Forbes Advisor student loan calculator.

Variable rate loans

Last week, the average rate on a five-year variable refinancing student loan fell to 2.95% on average from 3.07%.

Unlike fixed rates, variable interest rates fluctuate over the life of a loan depending on market conditions and the index to which they are linked. Many refinance lenders recalculate the rates monthly for borrowers with variable rate loans, but they usually limit the rate up to 18%, for example.

Refinancing an existing $ 20,000 loan into a five-year loan at an interest rate of 2.95% would result in a monthly payment of approximately $ 359. A borrower would pay $ 1,536 in total interest over the life of the loan. But because the rate in this example is variable, it may go up or down from month to month during this time period.

Related: Should You Refinance Student Loans?

When Should You Refinance Student Loans?

Most lenders require borrowers to graduate before refinancing, but not all, so in most cases, wait to refinance until you graduate. You will also need a good or excellent credit score and a stable income in order to access the lowest interest rates.

If your credit is low or your income is not high enough to qualify, you have several options. You can wait to refinance until you have accumulated credit or have sufficient income. Or, you can get a co-signer. Just make sure the co-signer knows that if you can’t pay off your student loan, they’ll be responsible for it. The loan will appear on their credit report.

Finally, make sure you can save enough money to justify refinancing. At today’s rates, most borrowers with high credit scores can benefit from refinancing. But those with not very good credit and who will not receive the lowest fixed or variable interest rates may not be. Start by exploring the rates at which you could prequalify through multiple lenders, then calculate your potential savings.

Refinancing student loans: other things to consider

A crucial caveat to keep in mind is that refinancing federal student loans into a private loan means that you will lose many of the benefits of federal loans, such as income-based repayment plans and generous loan options. postponement and abstention.

You may not need these programs if you have a stable income and plan to pay off your loan quickly. But make sure you won’t need these programs if you’re thinking about refinancing federal student loans.

If you need the benefits of these programs, you can refinance only your private loans or only a portion of your federal loans.

Compare Student Loan Refinance Rates

Refinancing a student loan at the lowest possible interest rate is one of the best ways to reduce the amount of interest you will pay over the life of the loan.

You may find that variable rate loans start off lower than fixed rate loans. But because they are variable, they have the potential to increase in the future.

Fortunately, you can reduce your risk by paying off your new refinance loan quickly, or at least as quickly as possible. Start by choosing a short-term loan with a manageable payment. Then pay extra whenever you can. This can hedge your risk against possible rate increases.

Whether you choose a fixed or variable rate loan, it’s important to compare the rates of several lenders to make sure you don’t miss out on any savings. You may be able to benefit from interest rate reductions by opting for automatic payments or having an existing relationship with a lender.


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Op-Ed: As house prices skyrocket, some programs offer help – Huntington Now http://albaruthenicae.info/op-ed-as-house-prices-skyrocket-some-programs-offer-help-huntington-now/ http://albaruthenicae.info/op-ed-as-house-prices-skyrocket-some-programs-offer-help-huntington-now/#respond Mon, 20 Sep 2021 11:17:54 +0000 http://albaruthenicae.info/op-ed-as-house-prices-skyrocket-some-programs-offer-help-huntington-now/ “LI HOME PRIX MONTE, UP, UP,” said the front page headline of News day Last week. The article began: “House prices hit a new high in Suffolk County… Median house prices jumped to $ 535,000 in Suffolk last month…” And that was $ 10,000 more than what Peter J. Elkowitz, Jr., president and CEO of […]]]>

“LI HOME PRIX MONTE, UP, UP,” said the front page headline of News day Last week. The article began: “House prices hit a new high in Suffolk County… Median house prices jumped to $ 535,000 in Suffolk last month…”

And that was $ 10,000 more than what Peter J. Elkowitz, Jr., president and CEO of the Long Island Housing Partnership, said the average price – $ 525,000 – of a house in Suffolk had just increased. He was doing a presentation earlier in the month before Long Island Metro Business Action on “Affordable Housing, Opportunities and Barriers”.

Houses suddenly at a median price of $ 535,000, quite a barrier to finding affordable housing!

What existing government programs are available to people seeking help buying a home in Suffolk?

At the federal level, there is the Federal Housing Administration, now part of the US Department of Housing and Urban Development, “which has been helping people become homeowners since 1934,” notes the HUD website. “How do we do this?” Because the FHA “insures the loan… your lender may give you a better deal,” she says. And with an FHA loan, there are “low down payments”. He continues, “Buying your first home? FHA could be exactly what you need. Your down payment can be as low as 3.5% of the purchase price. And there are “low closing costs, easy credit eligibility.”

We got an FHA loan to buy our first home decades ago in Suffolk – for $ 19,000, the total isn’t even double the price increase of $ 10,000. Our 30-year FHA guaranteed 3% mortgage costs $ 200 per month. But for a home in the now median range of $ 535.00 in Suffolk, getting a mortgage is tough. Even with currently low bank interest rates, for a 30-year mortgage at 3%, payments would be $ 2,108 per month, according to the online “Mortgage Calculator”.

Various websites market homes on which homeowners have been unable to meet their mortgage payments and have therefore been foreclosed. “Homes starting at $ 10,000”, several websites presenting such a housing request. But in those areas, there are no homes that have foreclosed on mortgages even near that price. I entered Huntington on www.foreclosure.com and homes are listed between $ 391,000 and $ 1 million.

As for state programs, the HUD website describes “Resources” and under “Home Ownership: New York” are the encouraging words: “Owning a home is a big part of the American dream. There is a section on “Getting started” which notes that in New York State there are “assistance programs – resources and programs to help you buy and maintain a home.”

One is managed by the New York State Mortgage Agency, which describes itself as offering “low interest mortgage loans and programs to help qualified buyers buy their first homes.” SONYMA provides access to affordable homeownership by removing many barriers faced by first time home buyers. Whether it’s improving your understanding of the overall home buying process or helping secure the funds for a down payment, SONYMA is with you every step of the way.

Regarding Suffolk, its government website states: “The County of Suffolk operates several programs to support and encourage the creation of affordable housing and manpower through the Department of Economic Development and Planning and Suffolk County Housing Opportunities Programs. ”

These include the county’s affordable housing and workforce land acquisition program in which it “partners with developers… and will reimburse the developer for infrastructure costs once construction is completed. completed in order to reduce the cost burden and allow developers to charge less for rent or purchase price for new units built or rehabilitated. Eligible infrastructure improvements include, but are not limited to, roads, parking, sewers, water, sidewalks, street lighting and ancillary landscaping in the development area.

Then there is the County Section 72 (h) Affordable Housing Transfer Program. It provides that “the county transfers plots currently in the county’s real estate inventory” – taken due to non-payment of taxes – “to municipalities for the construction or rehabilitation of affordable housing”.

Jim Morgo recounted last week how he “came up with the concept” in 1987 as Suffolk County’s deputy executive for housing. “Since then, countless properties – the most expensive parts of building homes – have moved from county to towns and villages, then to groups like Habitat for Humanity and the Long Island Housing Partnership at no cost, and homes affordable have been created. on these transferred properties.


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