Credit scores are incredibly important when secure a mortgage financing. They are however only one leg of a four-leg table. Here’s what to remember about credit scores and home loans. *Credit scores for jumbo mortgages need to be at least 680 or more *Credit scores can be as low as 620 for a conforming loan…
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In order to buy a home, you need to have a balance of good credit, manageable debt, stable income and sufficient savings. Maintaining a balance between these four categories is challenging enough on its own, never mind coming up with enough cash to close on your potential new home. The amount of money you have…
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The mortgage industry has gone through some changes in the last three months. If you are looking to finance a home in 2017, it is important that you know what the opportunities are and how to capitalize on them. Over the next 12 months, keep these items in mind as you consider your financing arrangements:…
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If you own a manufactured home, or if you are looking to purchase one, here is what you need to know when it comes to mortgage loan financing: Manufactured homes are not the same thing as modular homes. Manufactured homes are constructed, purchased at a dealer, and then moved to their final destination where they…
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If you have the need to borrow money, but you don’t want to tap your assets cash out refinancing your home could be a good move. Here’s what to consider when determining what option for cash out refinance your home makes the most financial sense… Generally, when expense such as needing a new roof, or…
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When it comes time to purchase or refinance a home lenders are look for a certain financial profile. Your financial profile should have these things… There is four things lenders look at when deciding whether not to grant you financing and having a balance of each will score you better terms and an easier process.…
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Buying a home is no easy feat. There’s a lot of paperwork and you need to be on top of your to secure the big ticket purchase. How do determine if you should pull the trigger or wait… Banks will let you take on a mortgage payment at no bigger than 45% of your monthly…
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Working on your down payment money to buy a home? Here’s something you need to know…your paycheck can work against your down payment savings plan. Buying a home requires precision planning, good income, good credit, manageable liabilities and a healthy down payment. As much as 3.5% of the purchase price can be a big factor…
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