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How Senate Tax Overhauls Could Drastically Change Your Mortgage

November 22, 2017 Refinancing could give you a lower mortgage rate to help send your kids to college.

Senate Mortgage Tax Relief Last Monday the Senate outlined their new overhaul for the United States tax code. The proposed bill differs significantly, debated between the House of Representatives and Senate discussions. The biggest changes to come relate to individual earnings, with one of the largest corporate tax cuts ever seen said to be delayed […]

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How To Calculate An Adjustable Rate Mortgage

November 03, 2017 Real Estate Negotiation 101

You might be considering an adjustable rate mortgage (ARM) for your home loan, but you’re wondering how it works. If you’re concerned about cost, savings, or monthly payments over time, you’re certainly not alone. It can be tricky to determine if it will end up being the most affordable mortgage option for you. Many adjustable […]

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Does Rental History Impact Your First Mortgage?

October 27, 2017 First Time Buyer

We live in a country where the majority of Americans do not actually live or own a home. Based on a recent study, 30-40 percent of Americans live in their apartment, and have their entire lives. It feels like it’s getting harder and harder to qualify for a house. You need every piece of history […]

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May Housing Market Analysis

May 31, 2017 Housing Market for May 2017

Part of our mission at First Option Mortgage is to keep you informed about the latest trends in the housing market. Whether you’re trying to find a fixer-upper or the home of your dreams, we want you to have the best information possible so you can go into the market with the knowledge and confidence […]

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Understanding Your Mortgage Payment

May 01, 2017 Understanding your mortgage payment

Your home is one of the most important purchases you’ll make in your lifetime. But paying off a mortgage isn’t like paying down a car, credit card, or student loan. Just like owning a home, it’s complex, and a variety of factors go into determining your monthly payment. Main factors Size, or principal, the amount […]

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How to Prepare for Mortgage Rates in 2017

January 18, 2017

After the Great Recession, the Federal Reserve set its benchmark interest rate close to zero to boost the economy. Since then, financial recovery and job growth have led officials to approve an interest rate increase. Interest rates control many factors, and a change in rate can create a domino effect to your home loan eligibility. […]

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