Co-signing is a way to help a family member or a friend get approved for credit. When you co-sign on someone else’s mortgage you are effectively lending a portion of your credit and income to help someone else qualify. Here’s what co-signing means when it comes time to getting a mortgage… If you have a…
Interest rates are on the rise and the cost of funds is now hovering just below 5% on the average 30-year fixed-rate mortgage. Following are tried and true techniques you can use to improve your mortgage borrowing power. Paying off debt This one is huge. Minimum payments on car loans, student loans, credit cards and…
Avoid these common credit blunders when applying for home loan The mortgage industry relies on accurate credit reporting to make credit decisions when granting people home mortgages. Here’s some of the things that can hurt your mortgage chances and how to not only your credit score, but your odds of getting approved… With the amount…
Discount point are nothing more than upfront head you pay to purchase a lower interest rate and subsequently a lower monthly payment. In some case the you may not have a choice to pay discount points. Following are those ways… It is reasonable to assume when refinancing with a lower than 660 credit score on…
The Federal Housing Finance Agency just released the new 2018 national loan limits. These loan limits provide increases in most counties throughout the United States. Here’s how the changes will benefit you when buying or refinancing a home. The loan limit increase changes the conforming loan limit from $424,100 to $453,100. This increase allows for…
Here’s what you need to know if you’re trying to pay off debt before buying a home Paying off debt to buy house can absolutely be beneficial. Debt cripples a would-be home buyer’s ability to afford a mortgage payment. Here is how you should strategically look at paying off debt to buy a home… Mortgage…
When you refinance your mortgage, someone is on the hook for paying fees. Who Following are the only ways loan fees can be accounted for when refinancing…. When you refinance your home closing costs are an inevitable component that must be paid for the transaction to successfully fund and close escrow. Here are the two…
The recent fire disasters have created housing demand not seen in Sonoma County in many years. Prior to the fires, strong competition, coupled with limited supply best described the local market. Now that the fires have wiped out 5% of the Sonoma County housing market, the problem has intensified. Here is how to win… Be…