March 2021
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Everything You Should Know about a HELOC
During 2020, a lot of people decided to make a change in their lifestyle. The coronavirus pandemic led to shutdowns across the country and the world. For people in big cities, that presented a set of challenges. With limited space and access to the things that are so appealing about city living, many people opted to move to suburban areas.
      There were bidding wars, and prices soared during 2020, and now a lot of those buyers are looking at ways they can renovate the homes they bought as we head into a new year.  
      Even if you’ve been in your home for a long time, you may still be eyeing a remodel in 2021 to make it more in line with your dream
Mortgage Rates
U.S. averages as of March 2021:

30 yr. fixed: 2.97%
15 yr. fixed: 2.34%
5/1 yr. adj: 2.99%

dream house, especially if you’re spending a lot more time there.
      Options for financing a remodel can include loans, and for some people borrowing against the
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How Much Should A Down Payment Be?
     If you’re planning to buy a new house, a big part of that is saving for a down payment. Your down payment is the money you put down when you close on a mortgage. Lenders will often describe down payments in terms of percentages.
      A down payment represents what you initially own when you buy a home. Then, the remainder comes from your lender.
      The standard is often referred to as 20%, but is that the reality?
      Paying a 20% down payment may make you feel like ownership isn’t attainable for you, but is that truly how much you have to or should pay?
      The following are considerations to keep in mind for your down

What Should You Know If You Inherit a House?
     Inheriting a house can bring about a range of emotions. You might feel sad because it likely means you’ve lost a loved one. It can also be overwhelming to know what steps you should take next and what the financial implications are. It can also be exciting because a house can be a huge asset.
      So what should your first steps be if you inherit a house?
      You essentially have three options if you find yourself in this situation. You can sell it, move into it or rent it to someone.
      Initial Considerations First, when you inherit a house, you’ll have to think about the legal and financial responsibilities that come with it. There may be debt obligations, for example. You also have to think about the tax liabilities that come with inheriting property, which may include capital gains and federal estate taxes.
      If you inherit a home, there’s no

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Changing Lenders? Here’s What to Expect
     Sometimes things just don’t work out. For whatever reason, you might start to get the feeling you chose the wrong mortgage company. Or more specifically, you might have chosen the wrong loan officer. A mortgage lender’s reputation is on the line due to the performance of its staff. A mortgage company can spend a lot of money marketing the company, but it takes just one bad loan officer to cause a borrower to wonder if the right choice was made. If you want to change lenders, here are some things to expect.
      The first is that you’re under absolutely no obligation to continue to work with the mortgage company, even though you completed the loan application and submitted all your documentation. You can put the brakes on at any time you like. Maybe the rate you thought you locked in wasn’t locked after all and market rates are higher than what you thought you had. Or maybe getting a return phone call from your loan officer is almost like pulling teeth. For whatever reason, you don’t have to stay mired in your own personal financial mud pit. Just change.
      One situation to understand is that your loan

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Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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