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Better.com reports $86M loss in Q2 as margin narrows

Housing Wire

with the Securities and Exchange Commission last week gave the mortgage industry a glimpse into how its partner Better.com fared in the second quarter. The digital mortgage lender, which plans to go public via a special purpose acquisition company (SPAC), reported a net loss of $86 million in the second quarter. And it wasn’t great.

Insurance 404
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Mortgage Term Glossary

Assurance Financial

Mortgage Lending Terminology . If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Adjustable-Rate Mortgage (ARM). Amortization. Assessed Value.

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What Happens to My Mortgage If I Move?

Assurance Financial

There are many factors to consider when selling a home, and you may be wondering what happens to your mortgage when you move. After all, the 2018 American Community Survey found that the median length of time homeowners stayed in their homes was 13 years, a shorter length of time than most mortgage terms.

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How to Build Equity in Your Home

Assurance Financial

If you live in the house for long enough and make enough payments on the mortgage, at some point, your property will be worth more than you paid for it. Home equity is simply the difference between your home’s value and the amount you owe on the mortgage. You have a mortgage on the home and still have $220,000 left to pay on it.

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Can You Pay Off Your Mortgage Early?

Assurance Financial

Owning a home may be the American dream, but paying off your mortgage early seems more like a far-fetched fantasy. It isn’t, and paying off your mortgage early could help you save thousands of dollars in interest, get rid of big monthly payments, and live lien-free! We have good news. Your payment would be around $596.77

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Ways to Save for a Down Payment

Assurance Financial

Fortunately, not every mortgage loan requires a sizeable down payment. Discuss your situation with mortgage lenders who can let you know how much of a loan you may be eligible for. Your total housing expenses may include: Your mortgage principal and interest. Homeowners insurance. Real estate taxes.

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What Is Private Mortgage Insurance?

Assurance Financial

In some cases, you may have to take out several loans or pay for something called private mortgage insurance (PMI). Read on to learn more about how private mortgage insurance can allow you to purchase a home, even if you don’t have enough resources to make a standard down payment. What Is PMI?