Yael Ishakis Team/ FM Loans

Shared Equity vs. Traditional Loans: When it comes to purchasing a home, most buyers tend to opt for traditional financing methods like Conventional, FHA, or VA loans. These tried-and-true options have been the cornerstone of home financing for decades. However, an alternative called a Shared Equity Agreement (SEA) is also available, which some may find appealing. Let’s discuss what a […] The post Shared Equity vs. Traditional Loans appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFR4Cy

Understanding the Financial Power of Mortgage Points: In the world of home financing, mortgage points are a powerful yet often misunderstood tool that can significantly impact your long-term financial outlook. Whether you’re purchasing a home or refinancing, understanding how these points work can help you make more informed decisions that align with your financial goals. What Are Mortgage Points? Mortgage points, also […] The post Understanding the Financial Power of Mortgage Points appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFP5L6

Where Does the Money for Your Mortgage Loan Really Come From?: If you’re considering a mortgage loan, you might wonder where the money actually comes from. It’s not as simple as walking into your neighborhood bank and getting a loan directly from their vault, like it used to be decades ago. Today, the mortgage lending process is part of a larger, more complex system involving major […] The post Where Does the Money for Your Mortgage Loan Really Come From? appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFM4qD

What’s Ahead For Mortgage Rates This Week – October 14th, 2024: The CPI and PPI reports delivered their data, showing inflation figures slightly below expectations. However, the positive impact of these reports was tempered by hawkish comments from Federal Reserve members during recent meetings. Despite this, the overall outlook remains optimistic, as further rate cuts are anticipated. Lending partners have also responded positively, significantly lowering their […] The post What’s Ahead For Mortgage Rates This Week – October 14th, 2024 appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFKSDv

Are You In A Position to Cosign on a Loan?: As home prices continue to rise, some buyers may struggle to qualify for a mortgage on their own. In these cases, a mortgage cosigner can be a helpful solution. However, whether you’re considering asking someone to cosign or you’re being asked to take on this role, it’s essential to understand the responsibilities involved. What Does […] The post Are You In A Position to Cosign on a Loan? appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFDb3V

What Is A Home Loan Offset Account And How Does It Work?: Looking for ways to reduce the amount of interest you pay on your mortgage and shorten its lifespan? A home loan offset account might be the solution. This financial tool allows you to reduce the interest on your mortgage by using the balance in a linked account to offset your loan amount. Let’s explore how […] The post What Is A Home Loan Offset Account And How Does It Work? appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TFBVmT

Does Your Home Loan Have a Prepayment Penalty?: Buying a home is a huge milestone, and the excitement of closing can lead many buyers to quickly accept any mortgage offer without fully understanding its terms. One important detail to watch for is whether your mortgage includes a prepayment penalty. This fee can be an unwelcome surprise, so it’s crucial to know what you’re […] The post Does Your Home Loan Have a Prepayment Penalty? appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TF8NmZ

Consolidate Credit Card Debt with a Cash-Out Refinance: If you’re feeling overwhelmed by credit card debt, a cash-out refinance may be an effective way to manage it. This type of mortgage allows you to utilize your home’s equity to pay off high-interest credit cards, consolidating them into a single, lower-interest mortgage payment. How a Cash-Out Refinance Works A cash-out refinance lets you replace […] The post Consolidate Credit Card Debt with a Cash-Out Refinance appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TF6J1B

What’s Ahead For Mortgage Rates This Week – October 7th, 2024: Last week was a fairly light week, with the non-farm payroll data being the most significant release. The data showed that payrolls are growing at a faster rate than historical trends suggest, which could indicate that inflation is still above the Federal Reserve’s target. In contrast, the upcoming week has a busy schedule, with many […] The post What’s Ahead For Mortgage Rates This Week – October 7th, 2024 appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TF4ZTT

How to Get a Mortgage Without a Credit Score: Getting a mortgage without a credit score may seem like a tough task, but it is possible. Many assume that a credit score is a must, but if you don’t have one, you can still pursue your dream of homeownership. Here’s how. What is a Credit Score? A credit score is a numerical value that […] The post How to Get a Mortgage Without a Credit Score appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. https://dlvr.it/TDzb9w