Archive for the ‘Mortgages 101’ Category

Credit Score Importance

Your Credit Score Wow – credit score. This is a whole world of its own. What does it mean to you? In the Lending world it means everything! A credit score is the numeric analysis of a person’s credit file/report. This score determines whether and how you qualify for lending. As I began looking into Read More »... Read more ›

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Reasons to Refinance

Reasons to Refinance There are a few reasons why people consider refinancing their homes. Understanding the reasons for wanting to do so can help determine if refinancing is right for you. Every household has a different situation and some scenarios dictate the right time to refinance and when it’s smarter to wait. The benefits of Read More »... Read more ›

What You Don’t Know About Your Credit Can Really Hurt You

Your credit score means everything in the mortgage lending world. Credit Reports show that close to one in four Americans have never checked their credit report. Never? Are you kidding me?  This report contains important information about a person’s credit history and ability to be financially responsible, including credit cards (revolving debt history), mortgages, and auto Read more ›

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Advantages & Disadvantages for Mortgage Terms / Loan Types

WHAT ARE THE ADVANTAGES/DISADVANTAGES FOR EACH MORTGAGE TERM?  30 Year Mortgage:   This term is good for those that want to keep their monthly payment low.  Keep in mind the older we get the longer we’ll need to work to pay this long term loan off.   This can be a disadvantage to those that want to Read More »... Read more ›

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Cash Out Refinance

Historic low rates With rates at historic lows, refinancing home mortgages is proving to be beneficial to homeowners by saving them money on their mortgage payment. Many are also enjoying the benefits of a cash-out refinance. A cash-out refinance is a mortgage loan that gives cash to the borrower from equity in his or her Read More »... Read more ›

The Truth about Conventional Loans

  Definition:  A conventional mortgage is a mortgage loan that is a loan secured by a real property through the use of a mortgage note which evidences the existence of the loan and encumbrance of that realty through the granting of a mortgage which secures the loan. When you apply for a conventional loan there Read More »... Read more ›

Your Credit Score

We depend on credit history for so many important things in life: buying or refinancing a home, purchasing a car, or even getting a student loan. This three-digit number, your credit score, can determine whether you can do these things and how much it will cost you. How can a simple number determine your ability Read More »... Read more ›

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