Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years

Key Points The Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, amid signs that inflation was moderating and the labor market was weakening. It was the first interest rate cut since the early days of the Covid pandemic. Outside of the emergency…

A Debt Service Coverage Ratio (DSCR) loan is a type of financing where the borrower’s ability to service debt is primarily assessed by their DSCR. The DSCR is a financial metric that measures a borrower’s ability to generate enough cash flow to cover their debt obligations. It’s calculated as: Net Operating Income (NOI): This is…

Evaluate Your Current Mortgage: We help you review your current mortgage terms, interest rate, remaining balance, and monthly payments. Determine why you want to refinance (e.g., lower monthly payments, shorten the loan term, cash out equity). Check Your Credit Score: We will help you check your credit score will influence the interest rate you can…

Deducting mortgage interest paid on tax returns is now a meaningful option for many borrowers. High mortgage rates in recent years have pushed many prospective homebuyers to the sidelines and seen others abandon their purchasing plans – but for those would-be buyers caught in two minds about taking the plunge, there’s at least a potential…

A USDA mortgage, also known as a USDA Rural Development Loan or USDA home loan, is a type of mortgage backed by the United States Department of Agriculture (USDA). These loans are designed to help low to moderate-income households purchase homes in rural areas or certain eligible suburban areas. Here are some key features of…

Rental income refers to the money earned by an individual or entity from leasing out a property to another party. This income is typically generated on a regular basis, such as monthly or annually, in exchange for the right to use the property. Rental income is a common source of revenue for property owners, landlords,…

A TBD (To Be Determined) mortgage loan is a type of mortgage application where certain details, such as the exact property address or some other critical information, are not yet finalized or provided. A TBD Mortgage often happens when a borrower is pre-qualifying or pre-approved for a mortgage before finding a specific property. Key Points…

A first-time home buyer is typically defined as someone who has never owned a home before or has not owned a home within the past few years (usually three years or more). First-time home buyers often qualify for special programs and incentives designed to make homeownership more accessible, such as lower down payment requirements, reduced…

“Non-permanent alien status” typically refers to an individual’s legal status in a country where they are not a citizen but have been granted temporary permission to stay. This status is often associated with visas or permits that allow individuals to reside, work, or study in a foreign country for a limited duration. The specifics can…

Negotiating with lenders and exploring local credit unions can help reduce mortgage rates. Understanding rate buydowns and refinancing options can make homeownership more affordable.