Federated Lending Corporation

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How to avoid overpaying for your first home mortgage

One of the challenges many first-time home buyers face is not knowing if they are overpaying for a mortgage. It is important to understand the various items that will impact your interest rate and the type of loan you will qualify for before you start shopping for a home. Some of the factors you should […]

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Is Refinancing Your Home Worth It?

Oftentimes, it is challenging to determine if a refinance is beneficial; there is a lot of conflicting information that makes people wonder. Is refinancing your home worth it? Simply put the answer is — it depends; if done correctly, refinancing can save you thousands of dollars. When To Refinance Homeowners are often tempted to refinance […]

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Refinancing your home after improving your credit

When you apply for a home mortgage, the rate of interest you pay is typically tied to your credit score. The better your credit score, the lower interest rate you should be eligible for. Frequently, new home buyers may not have established a strong credit history and therefore are paying higher interest rates. That means […]

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7 Advantages of Refinancing Your Home Mortgage

Those who have a home mortgage know this is a long-term financial obligation. Your mortgage payment is typically your largest monthly expense. Whether you took out a mortgage a year ago or you have been paying on a mortgage for several years, it may be time to consider refinancing home mortgage to see if you […]

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Local Lending VS. National Lenders

There are a number of decisions you have to make when you are considering purchasing a home or refinancing your existing mortgage. One of those decisions could have a serious impact on you for years to come; that is the decision about your lender. You have the options of using either national mortgage lenders or […]

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Biweekly Mortgage Evaluation

I Get a fair number of questions about bi-weekly payments. A bi-weekly payment plan is really simple. Instead of paying your mortgage payment once a month, you pay half of it every two weeks. Most months, we only collect two half payments – so nothing is different. We take those two half payments and we […]

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As the number of people applying for reverse mortgages grows, so does the number of common misconceptions about how the product works. Do you know the myths vs. the realities?

MYTH The lender owns the home. Just like a forward mortgage, the customer retains the title and ownership during the life of the loan and they can sell the home at any time. MYTH Once loan proceeds are received, you pay taxes on them. Reverse Mortgage loan proceeds are taxfree as it is not considered […]

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Pros and Cons: Reverse Mortgage Line of Credit vs Home Equity Line of Credit

Borrowers must qualify for a home equity line of credit (HELOC) based on their credit and income.  The reverse mortgage line of credit is GUARANTEED. There is no such guarantee with a HELOC. In fact, with a HELOC, the bank can reduce or close the credit line at any time. This happened a lot after […]

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Use a Reverse Mortgage to Purchase a home!

Would you like to move to a smaller home or a home that is more suited to your changing needs? Would you like to be closer to friends and family? Would you like a newer home with lower maintenance or a home in a different neighborhood or one with lower taxes?   Before we had […]

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