Getting a mortgage anytime soon? Two types of home loans are inherently pricier than their traditional mortgage counterparts and we’re not talking subprime or private money. If your credit score is beneath 680 or you have little equity or you have credit blemishes, fact is borrowing money will cost you… FHA Loans and Conventional Loans…
To this day, there is still the general belief that in order to purchase a home, you need to have 20% down, and have good – stellar credit history. The good news is you don’t need a large down payment, your credit can be actually marginal, even “less-than-perfect” and you can still buy with competitive…
Credit continues to be a hot topic. Having credit, maintaining credit and keeping the credit scores as high as possible is everyone’s aspiration. Unfortunately, many consumers are unaware of some of the credit blunders that inevitably show up when it comes time to obtain a home loan. In fact clearing up one myth before we…
Want to be 100% liable for someone else’s mortgage? Then cosign for them and you’ll be just as financially accountable for repaying the obligation as they are even though you are cosigning to simply assist the other party. When you cosign on a big-ticket item like a home loan, you are in essence lending your…
“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…