Rilian Ball

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Understanding Mortgage Payments and How to Calculate Them

March 5, 2025 by Rilian Ball

Knowing how to calculate mortgage payments can help you plan for homeownership and budget effectively. Several factors determine your monthly payment, including the loan amount, interest rate, and loan term. Here’s a step-by-step guide to understanding the process. Key Factors in Mortgage Payment Calculation Loan Amount – This is the total amount borrowed after the down payment. For example, if you’re purchasing a $300,000 home with a 20 percent down payment ($60,000), your … [Read more...]

Filed Under: Mortagage Tips Tagged With: Home Buying, Mortgage Payments, Mortgage Tips

What You Need to Know About Refinancing a Reverse Mortgage

March 4, 2025 by Rilian Ball

If you have a reverse mortgage, you may be wondering whether refinancing is an option. The good news is that yes, you can refinance a reverse mortgage, and doing so may offer financial benefits depending on your situation. Here’s what you need to know about refinancing, including reasons to consider it, eligibility requirements, costs, and key factors to keep in mind. Why Refinance a Reverse Mortgage? Homeowners refinance reverse mortgages for various reasons, often to improve financial … [Read more...]

Filed Under: Home Mortgages Tagged With: Financial Planning, Mortgage Refinance, Reverse Mortgage

What’s Ahead For Mortgage Rates This Week – March 3rd, 2025

March 3, 2025 by Rilian Ball

The PCE Index has aligned with expectations, and as the Federal Reserve's preferred measure of inflation, it eases the sense of urgency for policy action. GDP data has also indicated continued economic growth, though this is tempered by future forecasts predicting a potential economic contraction. This outlook is further reflected in the Consumer Confidence report, which has shown a significant decline since the change in administration. Uncertainty is evident across lending and broader markets, … [Read more...]

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

How the Purchase and Refinance Mortgage Process Works

February 28, 2025 by Rilian Ball

When it comes to home financing, purchasing and refinancing a mortgage share similarities but serve distinct purposes. Understanding how each process works can help you make informed decisions about homeownership and financial planning. The Purchase Mortgage Process Buying a home starts with assessing your budget. Before house hunting, it's crucial to determine how much you can afford by evaluating your income, expenses, and existing debts. Getting pre-approved for a mortgage will give you a … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Home Buying Tips, Mortgage, Refinancing

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Rilian Ball


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NMLS # 202687

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  • Comparing Biweekly Payments and Lump Sum Payments to See Which Saves More
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Rilian Ball
NMLS # 202687

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www.nmlsconsumeraccess.org

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