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Mortgage & Finance

Understanding the Pros and Cons of Refinancing a Car Loan with Bad Credit

How to Refinance a Car Loan With Bad Credit Refinancing a car loan can be a smart financial move, but it becomes more challenging when you have bad credit. While there’s no universal minimum credit score required to refinance your car loan, getting approved with bad credit is possible. However, just because you can refinance […]

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Mortgage & Finance

Understanding the Risks and Benefits of Switching Mortgage Lenders

Switching Mortgage Lenders: What You Need to Know When navigating the homebuying process, you might find yourself considering a switch in mortgage lenders. While it is entirely within your rights to change lenders up until the closing, it’s crucial to weigh the pros and cons before making such a decision. In this blog, we will […]

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Mortgage & Finance

How Extra Principal Payments Can Save You Money on Loans

Understanding Principal-Only Payments: A Comprehensive Guide When it comes to managing loans, understanding the intricacies of principal-only payments can be a game-changer. At O1ne Mortgage, we believe in empowering our clients with the knowledge they need to make informed financial decisions. If you have any questions or need assistance with your mortgage, don’t hesitate to […]

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Mortgage & Finance

4. “Maximize Your Credit Score: Leveraging Cellphone Bills and Experian Boost”

How to Improve Your Credit Score Using Your Cellphone Bill Your cellphone bill might help you build credit and improve some of your credit scores, but only if your payments get reported to at least one of the credit bureaus: Experian, TransUnion, or Equifax. Even when your account isn’t being reported, you don’t want to […]

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Mortgage & Finance

Is a Reverse Mortgage Beneficial?

Is a Reverse Mortgage Beneficial? A reverse mortgage sounds similar to a line of credit or home equity loan. Indeed like these loans, reverse mortgages provide a line of credit or a lump sum which you can access if need be depending on the amount you’ve paid off for your home and its market value. […]

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Mortgage & Finance

Reverse Mortgage Rules

Reverse Mortgage Rules If you own a townhouse, condo, a manufactured home or a house built after or on July 15th, 1976, and then you might qualify to get a reverse mortgage. The Federal Housing Administration (FHA) prohibits cooperative housing owners from obtaining reverse mortgages from obtaining reverse mortgages because they own shares of the […]

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Mortgage & Finance

How to Avoid Reverse Mortgage Scams

Reverse mortgage is potentially lucrative and vulnerable borrowers who might be desperate for finances or have cognitive impairments are prone to scam. Unscrupulous vendors target seniors offering help in securing reverse mortgage for pay. The vendor runs off with the money without delivering the promise. Financial advisors, caregivers, and relatives in some cases take advantage […]

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Mortgage & Finance

What is a Reverse Loan’s Net Principal Limit?

What is a Reverse Mortgage and How Does it Work? What is Tenure Payments? How Accompanies a Term Payment Plan Work Reverse mortgage net principal limit is the term used to denote the amount of money a reverse mortgage borrower can obtain after closing costs have been factored in and the loan has closed. How […]

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Mortgage & Finance

Should You Choose a Home Equity Loan or Reverse Mortgage?

What types of limitations that are inherently involved What are the Considerations for Net Principal Limit Payment that allows Homeowners to get equal Monthly Payments If you own a home and have expenses that you need to pay, or you need a home remodel, but you run short on cash, you could qualify for a […]

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Mortgage & Finance

All You Need to Know about The Tenure Payment Plan

The Benefits and Advantages of a Lumpsum payment Plan What are needed to consider for grabbing the Forward Mortgage option Allowed to access a maximum of 60% of the principal limit during the first year A tenure payment plan is one which a person draws funds from reverse mortgage proceeds. The borrower continues to get […]