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Wednesday, December 03, 2014

Pros & cons of ‘buying down’ a mortgage

By Jeramy Gordon

While mortgage buy-downs are rare these days with interest rates at historic lows, they are still available to buyers. What are they? They are a way of subsidizing your own mortgage by paying an upfront fee to reduce the interest rate on your home loan either temporarily or permanently.

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Wednesday, November 26, 2014

Underwriters hold the key to your mortgage

By loanDepot Staff Writers

If you are applying for a purchase or refinance mortgage, you may not know exactly who gives final approval to your loan. Well, that person is the underwriter. He or she is someone you will likely never see or meet, but whether or not you get a home loan largely rests on their shoulders.

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Friday, November 14, 2014

Fannie Mae and Freddie Mac explained

By loanDepot Staff Writers

You may have heard the names Fannie Mae and Freddie Mac in the news and wondered what they are. They are government-sponsored enterprises that play a significant role in the mortgage industry. Both Fannie and Freddie buy mortgages from lenders, pool them together and sell them as mortgage-backed securities to investors.

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