Is your credit ready for a refinance?

Is your credit ready for a refinance?

Rates are currently low and refinancing your mortgage might be right for you and your family. Part of the refinance process involves your lender looking at your credit score. If you’ve improved your credit and finances since initially buying your home, this can help...

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Fed Will Keep Rates Unchanged

Fed Will Keep Rates Unchanged

Federal Reserve officials are expected to leave interest rates near zero for the foreseeable future — likely through at least 2023. This means they will put up with periods of higher inflation in an effort to revive the labor market and economy. The announcement last...

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Why should you work with a mortgage broker?

Why should you work with a mortgage broker?

Working with Alterna Mortgage is better than working with a bank. Pros of working with Alterna Mortgage We do all the legwork for you, working on your behalf with the lender We compare wholesale mortgage rates from a large number of banks and lenders all at once We...

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Some frequently asked questions

Some frequently asked questions

As the summer homebuying season begins to wind down, here are some frequently asked questions. What is private mortgage insurance? Private Mortgage Insurance (PMI) is to protect the mortgage lender if a loan defaults. It is required if the loan amount is more than 80%...

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When Should you lock a mortgage rate?

When Should you lock a mortgage rate?

A rate lock guarantees your interest rate for a specified period of time. It’s common for lenders to offer 15, 30, 45 and 60 day rate locks for a fee or to include the price of the rate lock into your loan. The shorter the lock the better the rate can be. Some lenders...

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Market Update for Mid-August

Market Update for Mid-August

COVID-19 has led to the largest shock to the U.S. economy in our lifetime. The Federal Reserve, Treasury, and administration have responded with trillions of dollars in stimulus measures to help underwrite, or carry, the economy through this pandemic — and more is...

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