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Yes or No: I’ve had my loan for seven years and don’t want to start all over again with a 30-year mortgage. Can I refinance into a shorter term loan?

Yes or No: I’ve had my loan for seven years and don’t want to start all over again with a 30-year mortgage. Can I refinance into a shorter term loan? | Mortgage Broker | Scoop.it
HARP Refinancing. Yes. There are lenders with shorter HARP financing terms than 30 years. Some lenders will let you refinance into a fixed rate mortgage with terms anywhere from 10 years ... http://www.marimarkmortgage.com/blog/headlines-news/ive-had-my-loan-for-seven-years-and-dont-want-to-start-all-over-again-with-a-30-year-mortgage-can-i-refinance-into-a-shorter-term-loan
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Tax Reform Expected to Boost Housing Demand

Tax Reform Expected to Boost Housing Demand | Mortgage Broker | Scoop.it
Thanks to recent tax reform, we are already experiencing a boost to the economy resulting in economic growth. According to a recent Fannie Mae Economic and Housing Outlook, an increased amount of business investment will encourage GDP growth throughout 2018. This is expected to boost housing demand, as well as many other commercial markets. Related: Florida’s 2018 Economy and Housing Market Projected To Remain Strong Economic Growth – Personal Factors Matthew Classick, in a report from Fan https://www.marimarkmortgage.com/?p=28379
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Mortgage Lenders and Real Estate Agents Still Beat Online Sources for Mortgage Information

Mortgage Lenders and Real Estate Agents Still Beat Online Sources for Mortgage Information | Mortgage Broker | Scoop.it
The first step in the homebuying process is to do research and get preapproved for a mortgage. Many people may assume that internet research is most important to homebuyers, but according to a recent Fannie Mae Economic & Strategic Research study, homebuyers rely more upon talking with mortgage lenders and real estate agents for information about a home loan. Revealed in Fannie Mae’s research, a majority of consumers use the phone, email, and in-person contact with their mortgage l https://www.marimarkmortgage.com/blog/mortgage/lenders-real-estate-agents-beat-online-sources-mortgage-information
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Fannie Mae Made It Easier to Qualify for a Mortgage July 29, 2017

Fannie Mae Made It Easier to Qualify for a Mortgage July 29, 2017 | Mortgage Broker | Scoop.it
Fannie Mae raised the debt-to-income ratio ceiling from 45% to 50%, as of July 29, 2017. This change opens a world of possibilities for many people who have previously been unable to qualify for a mortgage because of their debt-to-income ratio,  according to an article by Kenneth Harney in The Washington Post. Although Fannie Mae raised the DTI required to qualify for a mortgage, the federal “qualified mortgage” rule remains at 43%. In general, according to the CFPB, borrowers with a DTI http://www.marimarkmortgage.com/blog/mortgage/fannie-mae-made-easier-qualify-mortgage-july-29-2017
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Only 5 days from Mortgage Application to "Clear to Close"!

Only 5 days from Mortgage Application to "Clear to Close"! | Mortgage Broker | Scoop.it
Only 5 days from Mortgage Application to "Clear to Close"! Our client was stunned and thrilled. To prequalify for a mortgage, or start your mortgage application, visit us online or call today. 813.910.8020 https://goo.gl/61rKAM
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It's Easier for Homebuyers with Student Loans to Qualify for a Mortgage in 2017

It's Easier for Homebuyers with Student Loans to Qualify for a Mortgage in 2017 | Mortgage Broker | Scoop.it
Many people wanting to buy a home can afford the monthly payment, but can’t qualify for a mortgage because of student loans. To help solve this problem, Fannie Mae implemented new rules this year that help homebuyers with student loans get a mortgage, and also help homeowners payoff student loans with equity from their home. Homebuyers with Student Loans Face Trouble Getting a Mortgage 70% of students graduate with student loan debt, adding to the 44 million people in the U.S. who have http://www.marimarkmortgage.com/blog/mortgage/easier-homebuyers-student-loans-qualify-mortgage-2017
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Use New 2017 Credit Score Changes to Boost Your Credit Score

Use New 2017 Credit Score Changes to Boost Your Credit Score | Mortgage Broker | Scoop.it
VantageScore is changing the way credit scores are calculated as early as July 1, 2017. So, we want to get information to our readers about possible ways to raise your credit score once these changes roll out. As a warning, though, don’t make changes to your behavior in an attempt to game the latest credit scoring model until we know how the new model affects consumers. VantageScore is just one of several companies producing scoring models for lenders. FICO is another company that produces http://www.marimarkmortgage.com/blog/credit-scores/use-new-2017-credit-score-changes-boost-credit-score
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Tampa Ranked #2 Market for First-Time Homebuyers in 2017

Tampa Ranked #2 Market for First-Time Homebuyers in 2017 | Mortgage Broker | Scoop.it
Today, about half of all homebuyers are first-time homebuyers. These buyers are often deciding important questions about putting down roots, starting a career and a family, long-term home values, and qualifying for a mortgage. So, it’s not surprising that Tampa ranked as the #2 market for first-time homebuyers in the U.S. Why is Tampa a Great Market for First-Time Homebuyers? In a report released by Zillow in May 2017, the top two markets for first-time homebuyers were in Florida. Orlando http://www.marimarkmortgage.com/blog/buying-a-home/tampa-fl-homes/tampa-ranked-2-market-first-time-homebuyers-2017
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Tampa Ranked Top U.S. Single-Family Housing Market for Spring 2017

Tampa Ranked Top U.S. Single-Family Housing Market for Spring 2017 | Mortgage Broker | Scoop.it
The Tampa housing market is having a fabulous start to 2017, resulting in Ten-X naming Tampa the top single-family market for the Spring of 2017. About Ten-X Ten-X, formerly Auction.com, is a leading online real estate transaction marketplace, having sold nearly 300,000 properties worth over $48 billion. The company retained the Acution.com website, and monitors real estate trends to help homebuyers and investors make informed purchases. Ten-X’s newest report looked at “buyer demand and http://www.marimarkmortgage.com/blog/housing-market/tampa-ranked-top-u-s-housing-market-spring-2017
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2017 VA Home Loan Limits Higher Than Last Year

2017 VA Home Loan Limits Higher Than Last Year | Mortgage Broker | Scoop.it
The VA home loan is a well-deserved benefit available to everyone who qualifies for a VA mortgage. Fortunately, the maximum guaranty loan limits for these mortgages is higher in 2017, which means veterans can qualify for a larger home loan than in previous years without a down payment. What is a VA Home Loan? A VA home loan is a mortgage loan that is backed by the Department of Veterans Affairs, better known as the VA. It is only for those who have served in the U.S. Military, or those http://www.marimarkmortgage.com/blog/va-loans/2017-va-mortgage-limits-higher-last-year
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LIBOR-indexed ARMs

LIBOR-indexed ARMs | Mortgage Broker | Scoop.it
Although ARMs (adjustable-rate mortgages) are not the best option in every situation, they are helpful in certain situations when financing a home. So in article, we explain the basics of adjustable-rate mortgages, as we specifically review LIBOR-indexed ARMs. What is an Adjustable-Rate Mortgage? An adjustable-rate mortgage, also called also known as a “variable-rate mortgage” and a “floating-rate mortgage,” is a loan that has different interest rates through its life. An ARM typically off http://www.marimarkmortgage.com/blog/mortgage/libor-indexed-arms
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What is a Mortgage Broker?

What is a Mortgage Broker? | Mortgage Broker | Scoop.it
A mortgage broker acts as an intermediary between the borrower and the lending institution. The broker's principal job is to find a bank or direct lender for the borrower's home loan, which should include the best interest rate and terms for the borrower's specific circumstances. Now that the formal definition is out of the way, we can discuss what a mortgage broker does in more general terms. What do the best mortgage brokers do for their clients? The best mortgage brokers show you http://www.marimarkmortgage.com/blog/mortgage-broker/what-is-a-mortgage-broker
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What You Need To Know About Closing Cost Estimates For Home Loans

What You Need To Know About Closing Cost Estimates For Home Loans | Mortgage Broker | Scoop.it
Mary talks about closing cost estimates, and about the things you should know if you are shopping for a home or refinancing your mortgage. Mary shows you what to be watching out for when shopping for a mortgage, and how to compare loan estimates by comparing the fees. The lender giving you the estimate will know the lender fees, but the other fees are only estimates (origination fee, underwriting, credit report, etc.) of service provided by other parties. So when you're comparing loan http://www.marimarkmortgage.com/videos/closing-costs-videos/need-know-closing-cost-estimates-home-loans
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Construction Conversion Mortgages

Construction Conversion Mortgages | Mortgage Broker | Scoop.it
If you are considering building a house, you probably don’t like the idea of getting a construction loan that you’ll have to pay off with a permanent mortgage. And, you’ve probably thought of the risk you are incurring, if something happens and you can’t get permanent financing after construction is complete. The solution is to get a construction conversion mortgage. A construction conversion mortgage finances the home construction, then converts to a regular home loan, avoiding the hassle o http://www.marimarkmortgage.com/blog/mortgage/construction-conversion-mortgages
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24% of U.S. Homes Sold in 2017 Sold Above List Price

24% of U.S. Homes Sold in 2017 Sold Above List Price | Mortgage Broker | Scoop.it
In a report from Zillow, 24.1% of U.S. homes sold in 2017 were sold for above list price, which is an average of $7,000 (3.1%) over list price. This is an increase from 17.8% in 2012. In certain areas of the country, over half of the homes on the market sold for more than the list price, including homes in Seattle, San Francisco, and Salt Lake City. In Tampa, 6% of homes sold above list price (up from 13.5% in 2012), and the median amount paid over list was $5,000 (2.7%). Why Are Homes https://www.marimarkmortgage.com/blog/buying-a-home/24-percent-homes-sold-2017-above-list-price
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Temporary Subsidy Buydown Mortgages

Temporary Subsidy Buydown Mortgages | Mortgage Broker | Scoop.it
Most of the time, mortgage borrowers have the option to save money by buying down their mortgage, either permanently or temporarily. Although mortgage buydowns can help many homeowners, each borrower should determine whether a mortgage buydown is appropriate for their situation by reviewing the pros and cons. One of the most common mortgage buydowns is a temporary subsidy buydown mortgage, which explore in detail with this article. Mortgage Buydown In general, a mortgage buydown lowers https://www.marimarkmortgage.com/blog/mortgage-rates/temporary-subsidy-buydown-mortgages
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Tax Breaks for Homebuyers and Homeowners

Tax Breaks for Homebuyers and Homeowners | Mortgage Broker | Scoop.it
If you are considering buying a home, it is wise to consider the possible tax benefits that are available to homebuyers. Outlined below are several tax benefits that are available to homebuyers. However, the ability to take advantage of each of these may depend on each individual taxpayer’s financial circumstances, therefore it is always wise to consult a CPA or tax preparer about the potential benefits for your personal situation. For example, many of these benefits are only available to http://www.marimarkmortgage.com/blog/tax-returns/tax-breaks-homebuyers-homeowners
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Millennials Are Driving the Housing Market

Millennials Are Driving the Housing Market | Mortgage Broker | Scoop.it
Millennials are growing older, getting jobs, and starting to buy homes. Entering the housing market might have been delayed for some, but Zillow reports that millennials are now the leading demographic of homebuyers. So, what does it mean for the housing market, now that millennials are the market’s driving force? Millennials Entering the Housing Market After years of living in cramped apartments with roommates, dorm rooms, and at home with their parents, millennials are entering the http://www.marimarkmortgage.com/blog/mortgage/millennials-driving-housing-market-mortgage-tips
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Mortgages in Bayonet Point, Florida

Mortgages in Bayonet Point, Florida | Mortgage Broker | Scoop.it
Increasing numbers of people are interested in buying a home in Bayonet Point, Florida, which is one of the quietest, most desirable places to live in Florida. The white sand beaches and hospitable environment make this community a perfect place to raise a family or retire. So, let’s explore the real estate market in this region of Florida, while discussing how to get a mortgage in Bayonet Point, Florida. Bayonet Point Real Estate Bayonet Point is a census-designated place in Pasco County http://www.marimarkmortgage.com/florida-mortgages/bayonet-point-fl/mortgages-bayonet-point-florida
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2017 Major Changes to Credit Score Calculations

2017 Major Changes to Credit Score Calculations | Mortgage Broker | Scoop.it
Changes in the way credit scores are calculated are a big deal, because they are used to determine how much you’ll pay for a mortgage, a car loan, car insurance, and much more. So when changes to the way credit score are calculated was recently announced, we immediately wanted to get information to our readers. Credit Score Calculations Are Changing in 2017 According to CNBC, changes this year regarding the way credit scores are calculated will impact almost everyone with a credit score. The http://www.marimarkmortgage.com/blog/credit-scores/2017-major-changes-credit-score-calculations
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Permanent Buydown Mortgages

Permanent Buydown Mortgages | Mortgage Broker | Scoop.it
Many borrowers have the option to get a permanent buydown mortgage, which lowers their interest rate and monthly mortgage payment, enabling them to save money over the life of the loan. In this article, we explain the basics of a permanent buydown mortgage, so you’ll know about this money-saving option. What is a Mortgage Buydown? A mortgage buydown (also called “buying down the rate”) occurs by buying points, which in turn lowers the interest rate, resulting in a lower monthly http://www.marimarkmortgage.com/blog/mortgage-rates/permanent-buydown-mortgages
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6 Tips To Get The Lowest Mortgage Rate in 2017

6 Tips To Get The Lowest Mortgage Rate in 2017 | Mortgage Broker | Scoop.it
Getting the lowest mortgage rate is extremely important for homebuyers. Low mortgage rates save homebuyers and homeowners money on their monthly mortgage payment, and helps them afford the home that best suits their needs without breaking the bank. So, here are six things homebuyers and homeowners alike can do to get the lowest mortgage rate in 2017. #1 Monitor and Clean-Up Your Credit Report Cleaning up your credit report is critical when you are buying a home. The first thing to do is http://www.marimarkmortgage.com/blog/interest-rates/6-tips-get-lowest-mortgage-rate-2017
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How To Drop Private Mortgage Insurance (PMI) Without Refinancing

How To Drop Private Mortgage Insurance (PMI) Without Refinancing | Mortgage Broker | Scoop.it
One of the most popular questions from homeowners is how to drop private mortgage insurance (PMI). For some homeowners, refinancing is the best way to drop PMI, because they can also lower their interest rate and save a great deal of money. But for other homeowners, it makes more sense to pursue other options to drop PMI. What is Private Mortgage Insurance? When borrowers finance a home with a conventional home loan and less than a 20% down payment, they pay for private mortgage insurance http://www.marimarkmortgage.com/blog/insurance/drop-private-mortgage-insurance-pmi-without-refinancing
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CMT-Indexed ARMs

CMT-Indexed ARMs | Mortgage Broker | Scoop.it
While financial jargon like CMT-indexed ARMs can be a bit overwhelming at first, all that it takes is a little bit of research to understand the various concepts. So in this article, we discuss Adjustable-Rate Mortgages, also called “Variable-Rate Mortgages” and “Floating-Rate Mortgages,” and why you should know more about Constant Maturity Treasuries. What is an Adjustable-Rate Mortgage? In short, an Adjustable-Rate Mortgage (ARM) is a loan that offers borrowers a short introductory perio http://www.marimarkmortgage.com/blog/mortgage/cmt-indexed-arms
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Select a Mortgage Broker Who Gives You a Competitive Advantage

Select a Mortgage Broker Who Gives You a Competitive Advantage | Mortgage Broker | Scoop.it
When competing for a home in a fast-moving housing market like Tampa Bay, buyers with an experienced mortgage broker who can get them the best possible interest rate and can close quickly have a competitive advantage. Furthermore, these buyers are positioned to get the best deal on a home. If you are thinking about buying a home in Tampa Bay, here is important information about buying a home in a hot housing market, while also getting the best deal. Tampa Bay’s Strong Housing Market Tampa http://www.marimarkmortgage.com/blog/buying-a-home/tampa-bay/mortgage-broker-gives-competitive-advantage
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Mortgages in Pembroke Pines, Florida

Mortgages in Pembroke Pines, Florida | Mortgage Broker | Scoop.it
Pembroke Pines, Florida  is a unique and desirable place to live. From a great location to a picturesque climate, this South Florida city is a little slice of paradise, and the real estate market reflects its popularity. So, here is a closer look at the real estate market in this city, with tips to get a mortgage in Pembroke Pines, Florida. Pembroke Pines Real Estate An important metric that reflects the health of Pembroke Pines’ real estate market is the median home price.  Currently, the http://www.marimarkmortgage.com/florida-mortgages/pembroke-pines-fl/mortgages-pembroke-pines-florida
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