What is a VA IRRRL? A VA IRRRL loan is an Interest Rate Reduction Refinance Loan (IRRRL), sometimes called a VA Streamline loan offered by the U.S. Department of Veterans Affairs (VA). When interest rates drop, many Connecticut Veterans and other homeowners with VA loans consider saving money with a refinance. The …
Mortgage rates are on the decline
Are mortgage rates going down? Yes, mortgage rates are going down and this has sparked an exciting sudden change in the Connecticut housing market. But who knows for how long? Many prospective borrowers with strong credit were locking their mortgages at the end of last week. Mortgage interest rates change all the time …
How to tackle high-interest debt
High-interest debt solutions High-interest debt, such as credit card debt, personal loans, payday loans, and auto loans with interest rates of 8% or more, can be a significant financial burden. Financial advisors often recommend prioritizing the repayment of such debt before other financial goals. If you find yourself …
The best tips for home renovation financing
Summertime is the best time for renovations Summer's here in Delaware, and it's the perfect time to give your home that much-needed makeover. If you're a homeowner dreaming of upgrades, renovation home financing, a cash-out refinance, or a Home Equity Line of Credit (HELOC) could help you achieve your renovation …
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Conventional loan vs FHA loan
What is the difference between a conventional loan and an FHA loan? The most popular type of mortgage is the 30-year fixed-rate loan. It gives homebuyers three full decades to pay it off, resulting in smaller payments over a more extended period. A 30-year fixed-rate loan is a conventional loan. It offers flexibility …
What you need to know about VA loans and the NAR settlement update
What the VA said about the NAR settlement The Department of Veterans Affairs announced it would temporarily lift its ban on homebuyers directly paying for realtor representation. It is expected that it will announce a formal policy update within the next several weeks. The VA’s home loan guaranty is the only loan …
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