During the entire home buying transaction, from application to closing, your motto should be “Caution is Critical”.
Credit Scores
Mortgage Sense… Conventional? FHA? or Something Else
I’ve talked a great deal about VA Mortgages in these posts, and I have no doubt we’ll be touching on that subject again very soon as a lot has changed. But for those of you who are not lucky enough to be able to take advantage of the VA’s zero-down option, today we touch on… Read More
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What’s Next for Mortgage Interest Rates? The 2020 Forecast Looks Promising.
Along with routine monitoring of local and national Real Estate market data, we closely follow changes in home loan trends, lending regulations and most notably mortgage interest rates, since developments in the mortgage industry directly affect our clients, both home buyers and home sellers. The sharply rising rates spouted in many ominous predictions for 2019,… Read More
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No Credit Score? No Problem, You Might Just Need a ‘Boost’
First-time home buyers often have an issue with their credit score, not because it’s bad but because it’s non-existent. No worries you’re not alone, somewhere close to 50 million adults do not have a credit score. Nevertheless, an acceptable credit score is crucial if you plan on applying for a mortgage. Before you begin the… Read More
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Conforming Mortgage Loan Limits Increase for Home Buyers
Home Buyers utilizing the Conventional Mortgage are seeing an increase in conforming home loan limits. Loan limits generally keep pace with housing prices in various regions and have been adjusted upward for the 2019 housing market. The conforming limit does not refer to the price of the home,
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Hunting for the Best Mortgage Rate? Raising Your Credit Score WILL Save You Money!
When you’re shopping for a low mortgage interest rate, keep in mind that widely advertised rates for home loans are usually designed for home buyers with “very good” to”excellent” credit scores. — Understanding Your Credit Score — That’s not meant to imply that you can’t get a mortgage if you have a “fair” credit rating,… Read More
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Have Homeowners Lost Interest in Mortgage Refinance?
Refinances down but new mortgages are up. I’m not at all convinced that the recent indifference toward mortgage refinancing has anything to do with rising interest rates. I’m more inclined to assume that because low mortgage rates have been around for an extended period of time, most everyone who wanted to refi has already done… Read More
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Video: Improving Your Credit Score, How and Why
Can you improve your own credit score? The video below offers some advice if you choose to work with a credit counselor and some warnings, but you can actually repair your credit yourself in a few straightforward steps. Check your credit report on annualcreditreport.com. This is the only site authorized by federal law to provide… Read More
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Rising Interest Rates: Who’s Afraid of the Big Bad Fed? You Probably Shouldn’t Be.
Rising Interest Rates: Who’s Afraid of the Big Bad Fed? You Probably Shouldn’t Be. According to RISMedia, mortgage rates actually dropped this week after several rounds of rises. But even prior to this moderate dip interest rates still stood very firmly in favorable territory for Home Buyers. Read on to see how the Fed’s decisions… Read More
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20 Percent Down is Nice, but NOT Mandatory
20 Percent Down is Nice, but NOT Mandatory Due to misunderstood government regulations instituted in the past two or three years that were meant to stabilize the housing market, many folks are under the impression that they must have 20% down to buy a home. This is categorically untrue. Not only do 3.5% down FHA… Read More
