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What Is “Prime”?
The Prime Lending Rate - sometimes just called “Prime” - is the interest rate that banks charge each other for overnight loans. Some consumer rates - like ARMs - are set in relation to Prime.
In the US, Prime is affected by the Federal Reserve lendi...
Closing Costs Explained Visually
Purchasing a home is exciting. Once escrow begins, the excitement can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate.
Closing costs simply refer to the fees associated with various thing...
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