How Much Should You Put Down On A Home Purchase There was a time when mortgage lenders relaxed home buying rules and authorized home loans even when buyers had a minimum amount of money to put down. That plan backfired and many homes went into foreclosure. Downpayment rules have recently become more stringent than they Read More »... Read more ›
Desktop Underwriter Refinance Plus There are so many different loan programs out there, it is hard to know what is available to you. One option is a DU Refi Plus, which was created for borrowers who demonstrate a satisfactory payment history on their current mortgage, but have not been able to refinance due to the Read More »... Read more ›
Importance of Timely Mortgage Payments The economy is tough on everyone right now. You may find yourself with the unenviable task of deciding which bills must be paid now, and which ones can wait another few weeks or even until next month. You are definitely not alone in this situation. If you need to pay Read More »... Read more ›
Expenses That Home Owners Should Expect When you sit down in the title insurance office and sign your paperwork at closing, you’ll probably feel a big sense of relief. It’s finally over! You are a homeowner. The reality, though, is that your financial commitment is only just beginning. Owning a home comes with a variety of Read more ›
Your Reward For Great Credit Here’s a little secret: All mortgage lenders—from the medium-sized folks like Box Home Loans to the “big boys” like Wells Fargo and Bank of America—ultimately sell the majority of their loans to an end-investor. For example, Bank of America may take your payments but they have most likely sold your Read More »Read more ›
Why are you refinancing? Are you trying to save money on interest, get out of onerous loan provisions, or are you simply trying to stay in your home with a lower monthly payment? Identifying your goals at the start will help you make a plan that meets your needs. How does the new home loan compare to Read More »... Read more ›
Tips To Improve Your Credit Score? Your Credit Score – Turning a Necessary Evil into a Money-Saving Tool Many people view their Credit Score as a complex, frustrating, “Necessary Evil.” Just when you think you understand your score, it drops a few points, leaving you confused and right back where you started. This is not the Read More »... Read more ›
Temporary Leave Loan Qualification Temporary leave from an employer may encompass various circumstances (e.g. family and medical, short-term disability, maternity, other temporary leaves with or without pay). Under no circumstances should any medical documentation be required or any inquiry regarding the nature of the disability be made. Temporary leave may vary in duration. The period Read more ›
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 ›
