Well? Yes and No, read on…. Like it or not, your relationship with money can be best summed up on paper by how much consumer debt you carry, more specifically in the form of credit cards. Credit card debt is a double-edged sword, especially on high ticket items, like a house purchase. On one end,…
As this exuberant real estate market drives the housing sector, the chance to utilize home equity, may be a smart move. Rewind to March 2011, Fannie Mae lifts the guidelines surrounding the six month “hold time” (time holding title to a property) allowing cashing out of a recently acquired property. The change has since allowed…
Trying to procure mortgage credit right now? From higher interest rates, to rising house prices to the contraction in buying power, securing financing, for many can prove to be no easy endeavor. As prices, and rates rise in tandem, lenders will still place the weighted emphasis on “real income” as that’s what the mortgage loan is…
To purchase a home you will need a down payment of at least 3.5% of the purchase price. Gone are the days of no down payment alternatives, down payment assistance, and seller offered programs to come up with the money needed to close escrow. Here’s five ways to come up with the down payment to…
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…
You’re doing everything right, you’re paying your bills on time, you earn good income, and you’re applying for a mortgage with second thoughts. Maybe you’re trying to buy a new home, and something’s just not right, perhaps the proposed new payment is a financial squeeze. Paying attention to the signs means the difference between making…
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…
For anyone who has tried to apply for a mortgage and had student loans, they know whats it’s like to be scrutinized and questioned by the mortgage company over the validity of the those obligations. Like other forms of debt, like car loans or credit cards, student loans fall into the same classification, debt made…