Federated Lending Corporation

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How much of your income should go towards a mortgage

Think about your salary before buying a home in Richboro PA. Otherwise you might mis-figure the mortgage loan amount you need. Lenders typically recommend earmarking 28% of your net income for your mortgage, For example, if your monthly income after taxes is $4000, the maximum monthly mortgage payment should be $1120. However, the amount you can actually afford might be different, depending […]

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How to get a mortgage in PA (Checklist)

Buying a home in Ivyland? Along with the house of your dreams, you’ll no doubt be looking for the best mortgage for your budget. Here’s a quick checklist for getting a home mortgage.  Gather Your Paperwork Be ready to prove your identity and income, and show your debts and assets. Get documents together at the beginning of your mortgage search.  […]

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Knowing which credit reports mortgage companies use

Buying a home in Chalfont PA? Your mortgage loan choices hinge heavily on your credit scores. If you have a long, lengthy credit history and pay your bills on time, you probably have great credit. If you’ve paid your bills late and maxed out your credit cards, your credit scores may be low.  If you’re planning on purchasing a home and living in Chalfont PA, understand which credit reports […]

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Which Is Better? Looking at 15 Year Mortgages and 30 Year Mortgages

Thinking about buying a home in Bucks County, PA? Then think about the length of the mortgage loan you need.  The majority of U.S. home buyers choose either a 15 year mortgage or a 30 year mortgage. Home mortgages in Bucks County are no different. How do you decide? These questions will help decide which one is right for you.  […]

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How Student Loans Affect Buying A Home

Many Americans shoulder huge amounts of student loan debt. As recent college graduates venture into the housing market, some are shocked that their student loans affect buying a home.  If you’re looking for a home mortgage in Newton PA, be aware that student loans affect buying a home in 3 significant ways.  1: The Down Payment A hefty down payment is a smart way […]

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How Student Loans Affect Buying A Home

Many Americans shoulder huge amounts of student loan debt. As recent college graduates venture into the housing market, some are shocked that their student loans affect buying a home.  If you’re looking for a home mortgage in Newton PA, be aware that student loans affect buying a home in 3 significant ways.  1: The Down Payment A hefty down payment is a smart way […]

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Fixed and Variable Mortgages Explained

One of the most important decisions potential home buyers make when purchasing a home is whether to choose a fixed mortgage, or opt for a variable mortgage.  What does this really mean? These terms refer to the interest rate on the mortgage loan.  Fixed mortgages have an interest rate that’s set in the beginning. The rate doesn’t change throughout the life […]

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Interest Rates in 2018: What You Need to Know

Buying a home in Bucks County takes planning. Which neighborhood suits my family? How close will I be to work? How much can I afford? If you are planning on buying a home this year, a big consideration is the interest rate you will pay. All eyes are on interest rates in 2018 and which way […]

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5 Factors that Affect Mortgage Interest Rates

If you’re searching for a home mortgage in Yardley, you may ask dozens of questions. Which real estate agent should I choose? How much home can I afford? And, what should I know about interest rates? Do you really understand interest rates? Why do they change so often? Here are 5 factors that affect mortgage interest rates.  1: The Economy. […]

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Mortgage Mistake #4: Not Comparing Mortgage Quotes “Apples to Apples”

Recently, a local couple buying a new home was referred to Federated Lending by their friend. They’d already gotten a quote from another lender and wanted to compare rates. Our team provided the estimate, and the rates appeared to be the same. The man we’d been working with on the details was a little apologetic because he […]

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