Michael Bock and Theresa NeSmith
Refinancing a mortgage can provide significant financial benefits, such as lowering your interest rate or accessing home equity. However, it’s important to understand how the process may temporarily affect your credit score.
With the CPI and PPI scheduled for release in the upcoming week, the previous week was lightly peppered with a small amount of impactful financial data releases. The highlight was the S&P Manufacturing PMI, which reported final numbers for the year showing better-than-expected improvements in the manufacturing sector. Unemployment data also aligned with expectations, reinforcing the likelihood of a Federal Reserve rate cut remaining on track. Lastly, the Consumer Credit Report had the expected jump just before the Holiday Season as consumers relied on credit to make holiday purchases for the end of the year.
As the year comes to a close, it’s the perfect time to consider refinancing your mortgage. Whether you’ve been thinking about lowering your monthly payment, securing a better interest rate, or tapping into your home’s equity, refinancing can offer many benefits.
When you’re buying a home, one important component of the real estate contract is the appraisal contingency. This clause protects the buyer in case the property’s appraisal comes in lower than the agreed-upon sale price.
Purchasing a home is a significant financial milestone, but for many potential buyers, the upfront costs and down payment can be a barrier. Fortunately, there are a variety of mortgage assistance programs available through government agencies and nonprofit organizations to help low- and moderate-income homebuyers achieve their dream of homeownership.
As the year draws to a close, it’s the perfect time to take a step back and review your financial health, especially if you plan to purchase a home next year. Whether you’re a first-time buyer or looking to upgrade, proper preparation can make all the difference when securing a mortgage with favorable terms.
• To view our NMLS Filings, CLICK HERE
• Click Here to Read Important Disclosures
Florida · Clearwater, FL · Pinellas County, FL · Brandon, FL · Pasco, FL · Saint Petersburg, FL · Wesley Chapel, FL · Riverview, FL · Tampa, FL
