“Why can’t I get the interest rates I see advertised on the Internet.” One of the most important characteristics of securing a mortgage is your Fico Score. Simply put, the lower the credit score higher the interest rate. How Your Fico Score rates is what determines both your eligibility for the mortgage as well as…
For many, seeking a home loan is an exchange of trust and privacy when it comes to providing a social security number to obtain a credit report. The credit report is one of the foundational pillars mortgage companies use to originate a loan by taking into consideration debt obligations which impact borrowing ability. After reviewing…
Any home buyer putting less than 20% down today has probably been offered or researched the possibility of using a government loan to buy a home. Government loans offer flexible financing alternatives to the standard 20% down conventional loan. Although government loans do contain monthly mortgage insurance, these options allow for a more complete story…
Not a week goes by when we are not asked “how soon can you buy a home or refinance a mortgage with a previous foreclosure, short sale or bankruptcy”. As the market continues to improve, many people are still seeking mortgage loans. Home buying opportunities have never been more affordable coupled with the low interest…
Everyone wants to have good credit to secure the best interest rate for mortgage loan financing. Credit scores range from 500 to 800, although we’ve seen credit scores as high as 820 before. Despite the fact that getting a mortgage today involves showing full income, full assets and a complete credit history, the need for…
Lets get one thing straight… no matter what mortgage company you work with, banker, broker, direct lender all mortgage loan qualifying is the same. Fannie Mae and Freddie Mac and HUD have the same guidelines across the board, with small subtle differences from company to company. There is only one bond market and mortgage rates…
Taking out of home loan? This might surprise you, pulling credit associated with the mortgage application does not make your credit score drop. This is information circulating around the media, not totally accurate. When you are filling out a mortgage application with a prospective mortgage broker or lender, they are required to pull a copy…
Stop and listen up if you had a previous bankruptcy on or before December 2, 2009 you can get a mortgage loan. You had a previous foreclosure or short sale on or before December 2, 2008 you can get a mortgage loan. Let 2012 be the year to get back on your feet and secure…