Smart Spending Tips discusses common reasons for mortgage rejections in 2024 and steps that may help your mortgage application. Mortgage rejections can be perplexing, especially when the reasons are not clear. However, certain factors consistently lead to these rejections. There are several primary reasons for mortgage denial in 2024 and corresponding strategies to improve your chances of approval. 1. Income Stability Income remains a cornerstone criterion. Lenders seek reassurance that you can comfortably manage mortgage payments. Here’s how different income scenarios impact your application: Freelancers: Lenders view income variability as a risk. Providing consistent tax returns for the past two…

Credit Sesame offers advice on five mortgage mistakes to steer clear of. Congratulations on taking the exciting step towards homeownership. Securing a mortgage is a key part of the process, and avoiding these common mistakes can ensure you get the best possible deal and steer clear of costly pitfalls. Mistake 1: Neglecting your credit Lenders heavily rely on your credit score to determine your interest rate. The higher your score, the lower your rate will be. Obtain a copy of your free credit report summary at least six months before applying for a mortgage. This allows ample time to identify…

Take Credit Sesame’s quick quiz to test your mortgage knowledge if you are considering buying a home. A mortgage is a loan used to purchase a property, with the property itself serving as collateral. Mortgages typically have fixed repayment terms ranging from 15 to 30 years. How good is your mortgage knowledge? 1. What is the most common type of mortgage? A. Adjustable-rate mortgage (ARM)B. Fixed-rate mortgage (FRM)C. Interest-only mortgageD. Reverse mortgage 2. What does PMI stand for in mortgage terms? A. Private Mortgage InsuranceB. Property Management InsuranceC. Primary Mortgage InvestmentD. Principal Mortgage Interest 3. What is an escrow account…

Credit Sesame discusses the challenges facing would-be homebuyers in fall 2024. After a sustained drop, 30-year mortgage rates have risen for four straight weeks. Home prices also continue to rise. It seems that buyers cannot get a break. Mortgage rates pose challenges for would-be homebuyers again In late September 2024, it seemed that market conditions were finally cooperating for buyers. 30-year mortgage rates had fallen steadily for five months to 6.08%. That was 1.71% lower than their peak of 7.79% reached at the end of October 2023. That kind of drop in mortgage rates has a huge impact on housing…

If you had to describe what typifies L.A. architecture, what would you say? Is it the white-walled, red-tile-roof Spanish Colonial style that springs to mind? The neo-Georgian mansions of Bel Air or the old-school pomp and glamor of Hollywood Regency? Or maybe you feel it’s Mid-century Modern, Art Deco or even the futuristic post-war experiment known as Googie that has had the greatest impact on the Californian city’s streetscape. In this vast, sprawling melting pot of a metropolis, it’s as hard to agree on a definitive architectural vernacular as it is to meet a waiter who doesn’t harbor movie-star ambitions.…

What are the safest cities in the US? With more than 430 mass shootings in the United States, almost 14,000 Americans lost to gun violence, nearly 29,000 motor vehicle deaths across the country and $24 billion dollars in climate disasters—all in 2024 alone—it’s no wonder that safety is top of mind for many Americans, whether they’re looking for a place to travel or somewhere to live. To address these concerns, WalletHub has issued a new report on the safest cities in the US, as well as the safest states, providing a data-driven look at where Americans are best protected from…

From office conversions to co-living, housing providers are looking at unique ways to deliver much needed housing supply in urban areas. A variety of new approaches offer solutions to the housing crisis that are both sustainable and affordable. The Combo Approach Real estate development company Behring Companies is introducing a new real estate asset class: the “full stack” ecosystem that includes ‘live-work-play-go’ that reimagines a user’s living experience. Plus, the model lowers the costs—a win-win. The company’s project in Oakland, California demonstrates the cost savings from the holistic approach to living. “There are certain things that are unavoidable, or the…

Investing in real estate is a long-term game and you’ll increase your chances of outperforming the market if you have consistency. While it’s easy to be excited about quick transactions, the truth is that sustained success in real estate is often the result of methodical, disciplined actions over time. From building relationships to managing properties, being consistent can be the key differentiator that sets successful investors apart from the rest. Consider the following benefits you’ll gain from practicing this trait as you move forward with real estate investing. You’ll Build Strong Relationships Whether you’re working with brokers, tenants, contractors, or…

The news that gross domestic product grew at a 2.8 percent annual rate in the third quarter might quell fears that high interest rates have crippled the economy. But a closer look at the numbers paints a less certain scenario. Healthcare spending has been a persistently high contributor to recent growth, and now accounts for 17 percent of GDP. And defense spending in the third quarter was at the highest level in years. Consumers paying bigger medical bills and the Pentagon buying more bombs is a poor recipe for sustainable growth. A truer measure of current growth – and one…

Interest in how to move out of the U.S. has been growing in recent years—but following the results of the 2024 U.S. presidential election, it has reached a fever pitch. With news that Donald Trump is returning to the White House, searches for terms like “the best countries for Americans to move to,” “leaving America,” “where to move out of the US,” “moving abroad” and “where to move abroad” have spiked dramatically. According to Google Trends, queries for “how to move to Canada” increased by 400% by 8 p.m. on election night. READ MORE: Marco Permunian, a founder of the…