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  Fraction, a BC-based fintech platform focused on guiding homeowners to access their  home equity , has profitably raised $20 million through a Series funding round. Led by QED Ventures, the round also saw participation from present investors including Impression Ventures, Primetime Partners, Panache Ventures along Global Founders Capital. “We want to make managing your home equity as flawless and easy as booking a stay on Airbnb, and we are very energized to have QED joining to help us do that,” said Fraction co-founder and CEO Hayden James. Since its Febr u ary 2021 launch, Fraction has allowed homeowners to access the equity in their homes. With the cash payments from Fraction, clients have been able to decrease existing debts, invest in their home, obtain a new home, and cover unexpected expenses. To date, the platform’s users have got an average of $350,000 from their home equity. Aside from wanting no monthly payments, the platform provides the flexibility of calculating interes

  Mortgage rates mostly sat still Wednesday, with the most trendy  home loan  types remaining flat and a few fixed-rate averages dropping just a point or two. This follows rates bolting Monday to their peak averages since March. After going up Monday to their peak level in seven months, and approaching their most pricey territory of the calendar year, most mortgage rate averages have come down to some extent over the last two days. The 30-year fixed-rate aver a ge held stable at 3.25%. Compared to early August’s major rate decrease, when the 30-year rate sank to 2.89%, today’s average is at the moment 0.36 percentage points higher. Meanwhile, the 15-year fixed average dropped a single point Wednesday, to 2.50%, and the Jumbo 30-year average stayed flat for a third day, at 3.42%. These rates are now 0.29 and 0.36 percentage points, in that order, above their early-August lows. Refinance rates  for the majority of popular loans saw no movement Wednesday, with averages dipping slightly in

  Tips for Building Home Equity in a Home It’s out there.  Buying a new home  is one of the most intriguing processes. There is too much thought which goes in when looking to buy a new home. When it comes to  real estate , you are looking for a comfortable place to live, at the same time, it should also be a sound investment. Below are 4  tips for building home equity  and do not end up underwaters on your new home in Texas. Tip No 1: Location Be strategic about where you buy your new home. Do your homework on which areas are getting good appreciation in home values. Sur e , you want to buy where the population and amenities are growing, but you also need to understand what’s driving the local economy? Home prices mirror income levels! So, look for communities with a mixed and expanding job base, where salaries are growing. It is also possible that the home value may not appreciate as anticipated. Still, over a more significant period, it is much more likely to go up, if you have a goo

  Fannie Mae & Freddie Mac Introduction of Fannie Mae and Freddie Mac? Fannie Mae or FNMA  is a nickname for  Federal National Mortgage Association . It was established in 1938. It is a Government-sponsored Enterprise (GSE). In 1968, Fannie Mae ceased to exist as a government entity and became a quasi-governmental, federally charted corporation to buy mortgages other than those insured by the Federal Housing Administration, otherwise known as FHA. Freddie Mac or FHLMC  is a nickname for  Federal Home Loan Mortgage Corporation . Freddie Mac is also a government-sponsored enterprise (GSE) that was brought into existence in the year 1970 by Congress. It provides competition to Fannie Mae and provides funds availability in the secondary mortgage market. What is Fannie Mae’s and Freddie Mac’s Role? Fannie Mae’s purpose is to create a secondary market for the purchase and sale of mortgages.  The secondary mortgage market  is where home loans and servicing rights are bought and sold betwe

  Bank vs Mortgage Broker Let us understand some pros and cons of a  bank vs mortgage broker in Texas  while you plan to refinance your mortgage Mortgage Broker in Texas A mortgage broker in Texas is a licensed intermediate person between the applicant/borrower and the lender/bank. Usually, a  mortgage broker firm  is associated with multiple lenders or banks. When you approach a mortgage broker firm for your  refinance  or  property purchase , they help you find the appropriate lender from their group of associations, giving you a variety of options to choose from. Let us understand some pros and cons of getting your mortgage refinanced through them. Pros of Broker: The most significant benefit of using a mortgage broker in Texas for your loan is the wide variety of choices you could get for your mortgage. They have access to several loan products and lenders, which could help you to get the specific loan that matches your requirements. A mortgage broker mostly gets paid only after cl

  The #1 wholesale and purchase lender in America, United Wholesale Mortgage ( UWM ) has announced it has successfully evaluated and accepted the first-ever cryptocurrency mortgage payment in September and more than five cryptocurrency mortgage payments in October from borrowers. Not only for UWM but for the whole mortgage industry, these transactions are the first of their kind. These payments were used by UWM as a model to improve assess scaling cryptocurrency payments for consumers. Mat Ishbia, president and C E O of UWM said, “We’re proud to be the very first mortgage lender to successfully operate this technology and further show that we’re innovating for the long term.” “We were planning on accepting cryptocurrency as we said in the last quarter and test it to see if it’s a faster, easier, and cheaper solution, and thanks to our innovative technology team members, the transactions were victorious. Due to the present combination of incremental costs and narrow uncertainty in the C

  If you’ve been wishing to  buy your first home , it might be the right time to make a move as  mortgage rates  are in the middle of the lowest ever. However, you might think you can’t afford the down payment or  closing costs . Nevertheless, many people believe you need 20 percent to buy a house. While that amount is recommended, there are many programs providing financial assistance to first-time buyers and mortgages requiring as little as 3 percent down. Here’s a look at several programs that can help you out in getting a low down payment mortgage: GOVERNMENT-INSURED LOANS The s e loans are offered from bank, non-bank, and credit union lenders. Check with a lender to see if it is able to give you government-insured loans. Through Federal Housing Administration (FHA) the loans which are a part of the Housing and Urban Development Department (HUD), requires a minimum down payment of 3.5 percent, meanwhile, the average FHA loan down payment is 4.4 percent. These loans are for the borr