Jim Potts

Synergy One Lending

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Understanding Mortgage Amortizations and Why Longer Periods Can Cost More

September 27, 2023 by Jim Potts

Buying a home is one of the largest investments you will make in your life, and that's why so many people have longer mortgage amortization periods to pay down the principal. While it may seem appealing to have a longer amortization period, here's why an extended loan term can end up costing you more and may be less financially beneficial when it comes right down to it.

Filed Under: Loan Tips Reno Tagged With: Home Mortgage Tips, Mortgage, Mortgage Amortization

What Does Contingent Mean on a House Sale

September 26, 2023 by Jim Potts

In the context of a house sale, "contingent" typically means that the sale of the house is dependent on certain conditions being met. These conditions could include things like the buyer securing financing, the completion of a home inspection, or the sale of the buyer's current home.

Filed Under: Loan Tips Reno Tagged With: Appraisal, Contingent, Mortgage Tips

What’s Ahead For Mortgage Rates This Week – September 25, 2023

September 25, 2023 by Jim Potts

Last week's economic reports included readings on U.S. housing markets, housing starts and building permits, and the scheduled post-meeting statement from the Federal Open Market Committee of the Federal Reserve. Data on sales of previously owned homes were released along with weekly reports on mortgage rates and jobless claims.

Filed Under: Loan Tips Reno Tagged With: Case Shiller, Financial Report, Mortgage Rates

5 Things To Know About Severe Weather And Homeowners Insurance

September 22, 2023 by Jim Potts

The average homeowner feels secure knowing they have insurance in the event of a severe weather calamity. Most people believe that no matter what happens, they have paid for protection against disaster.

Filed Under: Loan Tips Reno Tagged With: Homeowners Insurance, Real Estate, Severe Weather

Best Things To Do Now To Get Your Finances Mortgage Ready

September 21, 2023 by Jim Potts

You probably already know that qualifying for a mortgage can be the biggest hurdle -- aside from actually finding that dream property -- along the path to home ownership.

Filed Under: Loan Tips Reno Tagged With: Budget, Mortgage, Organization

Looking to Pay Back Your Mortgage Faster? Three Reasons to Consider Switching to Bi-weekly Payments

September 20, 2023 by Jim Potts

What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks.

Filed Under: Loan Tips Reno Tagged With: Mortgage Repayment, Mortgage Tips, Mortgages

What’s Ahead For Mortgage Rates This Week – September 18, 2023

September 18, 2023 by Jim Potts

The current 30-year fixed mortgage rate hovers around 7.51 percent, one of the highest rates seen in two decades. This is an upward jump from August, where the rates averaged at 7.18 percent. This trend is impacting potential homeowners. Meanwhile, the 15-year fixed mortgage rate stands close to 6.51 percent, mirroring August's average, which rounded off at 6.55 percent.

Filed Under: Loan Tips Reno Tagged With: Financial Report, Jobless Claims, Mortgage Rates

What’s Ahead For Mortgage Rates This Week – September 18, 2023

September 18, 2023 by Jim Potts

The current 30-year fixed mortgage rate hovers around 7.51 percent, one of the highest rates seen in two decades. This is an upward jump from August, where the rates averaged at 7.18 percent. This trend is impacting potential homeowners. Meanwhile, the 15-year fixed mortgage rate stands close to 6.51 percent, mirroring August's average, which rounded off at 6.55 percent.

Filed Under: Loan Tips Reno Tagged With: Financial Report, Jobless Claims, Mortgage Rates

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Jim Potts

Jim Potts


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Latest Articles

  • Understanding Mortgage Amortizations and Why Longer Periods Can Cost More
  • What Does Contingent Mean on a House Sale
  • What’s Ahead For Mortgage Rates This Week – September 25, 2023
  • 5 Things To Know About Severe Weather And Homeowners Insurance

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