Beth Wood’s Post

The average for a 30-year fixed mortgage is 6.89% today, an increase of 0.02% from seven days ago. The average rate for a 15-year fixed mortgage is 6.13%, which is a decrease of -0.02% since last week. After its September 0.5% interest rate cut, the central bank made a 0.25% reduction at its Nov. 7 policy meeting. Ongoing rate cuts, combined with cooler inflation and slower economic growth, should allow mortgage rates to fall. https://lnkd.in/gX-sBh7s.cnet.com%2Fpersonal-finance%2Fmortgages%2Fmortgage-rates-inch-up-since-last-week-current-mortgage-interest-rates-on-nov-7-2024%2F&utm_campaign=aga&utm_source=agsadl2%2Csh%2Fx%2Fgs%2Fm2%2F4

Mortgage Rates Plunge to Lowest Level in Months. Today's Mortgage Rates, Dec. 4, 2024 https://lnkd.in/ewaZtdDh #tech #technology #techiewomen

Mortgage Rates Go Up for Homeseekers: Mortgage Rates on Oct. 31, 2024 https://lnkd.in/ey5pqtrW #tech #womenintech #technie

Here’s a quick breakdown of the differences: Pre-Qualification: This is a quick process where you provide your lender with basic financial information, like your income and debt. The lender gives you an estimate of how much you might be able to borrow. It’s a good first step to understand your budget, but it’s not a guaranteed approval since it’s based on self-reported information that may not always be entirely accurate. Pre-Approval: This process is more detailed, and involves the lender checking your credit and verifying your financial documents. Because everything is verified through the lender, pre-approval gives you a specific loan amount you can borrow and shows sellers you’re a serious buyer, which can strengthen your position when making an offer on a home. So now that you know the difference, how do you know when you're ready? If you have a stable income, a good credit score, and have saved for a down payment, you might be ready to get pre-approved. On the other hand, if you're just starting to explore your options, pre-qualification can help you understand your budget. If you’re ready to go and just don’t know who to ask, our team can help you get pre-approved or pre-qualified so you can jump-start your home-buying process. Feel free to share this post with anyone who might benefit from this information – and if you have questions about which step is right for you or need assistance with the process, don’t hesitate to reach out. https://myoc.io/gumtree #gumtreemortgage #preapproval #prequalification #homebuyingtips #financialliteracy #firsttimehomebuyer #loanprocess #realestateadvice

It’s not easy to save for a down payment while renting. And you might have a harder time keeping your debt–to–income ratio and credit score pristine. Here are 10 low–income home loan programs to check out: https://lnkd.in/d3hurz7

Mortgage Terms Explained: Pre-Qualification vs. Pre-Approval vs. Loan Commitment. Pre-Qualification: A Loan Officer provides an estimate of how much you might be able to borrow based on your self-reported financial information. Pre-Approval: A more thorough, but not complete, review of your financial documents, where your Loan Officer looks over your basic financial situation and gives you an idea of what your purchase price could be. This is the industry standard. Loan Commitment: A fully underwritten and processed loan where the lender agrees to fund your loan. When you secure a loan commitment before finding a home, the commitment is subject only to conditions for the home you find. #MortgageTips #HomeBuying #PreQualification #PreApproval #LoanCommitment

While everybody knows about real estate agents, most Canadians simply walk into their nearest bank branch when they are looking for a mortgage to finance their home. But if you just speak to your bank, how do you know if you're getting the best deal, let alone the right type of mortgage for your situation? In this video, Jason Wodlinger joins us to talk about the advantages of using a mortgage agent when looking to obtain or renew a mortgage. Watch the full video here: https://zurl.co/ajWe If you have any questions about financing your mortgage, visit https://zurl.co/iAFJ #learning #education #ontariorealestate #realestateinvesting #canadarealestate #torontorealestate #gtarealestate #realestate #mortgage #educational

PATHWAYS FOR FIRST HOME BUYERS   Buying a home is an important decision and it can be quite daunting as a first home buyer when you read on most online guides that you will need to save for a 20% deposit. This can seem like a difficult task when you don't know what dollar figure the 20% looks like - is it $100k? $200k? Median unit prices in Sydney currently sit at $800,000, so a 20% deposit would mean that a first home buyer would need $160k saved - this however, is an unrealistic savings goal for many individuals & couples. It's important to familiarise yourself with the different pathways available, whether you're a first home buyer, first-time investor, or someone who has a property and is looking to build out their property portfolio. See if you know can identify what the following pathways are and how they work: 🔺 Equity release 🔺 FHG 🔺 FHBAS 🔺 FHOG 🔺 FHSSS 🔺 Guarantor home loans 🔺 LMI If you didn't get them all right, it probably means you don't understand all the different pathways that may be available to you. If you'd like to know what pathways are available to you, feel free to reach out as I'm always happy to chat.

While everybody knows about real estate agents, most Canadians simply walk into their nearest bank branch when they are looking for a mortgage to finance their home. But if you just speak to your bank, how do you know if you're getting the best deal, let alone the right type of mortgage for your situation? In this video, Jason Wodlinger joins us to talk about the advantages of using a mortgage agent when looking to obtain or renew a mortgage. Watch the full video here: https://zurl.co/ajWe If you have any questions about financing your mortgage, visit https://zurl.co/iAFJ #learning #education #ontariorealestate #realestateinvesting #canadarealestate #torontorealestate #gtarealestate #realestate #mortgage #educational