Most people think you have to have top notch credit in order to obtain a mortgage, and this just isn’t the case. Every loan program has a different credit score requirement. For example, a Conventional loan requires at least a 620, but FHA only requires a 580! When pulling credit, we pull all three bureaus…Equifax,… [Read More]
Closing costs are the portion of your investment in addition to the down payment. Some of these items may include an appraisal, attorney charges, property taxes, and homeowner’s insurance to name a few. You may even hear some of my competitors advertising ZERO closing costs, or that they will pay your closing costs for you…. [Read More]
Your very first step before you even begin to look at homes is a loan application. A loan application can take a matter of minutes! The application helps determine your budget, loan program, as well as other important information crucial to your home buying process. Click the “Apply Now” button at the top of the… [Read More]
2018 was quite the year! We’ve seen interest rates volatile and home prices increase, causing affordability to be one of the biggest hurdles in home buying. There have also been fantastic changes to student loan calculations, as well as increased loan limits for different programs. Interest rate forecaster’s predict may hold around where they currently… [Read More]
An Escrow account is an interest free account that collects your homeowner’s insurance and property taxes through you monthly payment. When the time comes that these particular bills come due, your Escrow account pays them on your behalf. In some instances you may elect to waive escrows, but can depend on the loan program as… [Read More]
Most people assume you need to find a Real Estate agent before anything else in the home buying experience. Actually, you need to speak with a trusted local lender. If you haven’t spoken to a lender, how do you know how much home you can afford? How do you know which loan program is best… [Read More]
Shopping for a mortgage is the responsible thing to do. Why wouldn’t you make sure you’re getting the best deal possible? This may not necessarily mean the lowest rate. Everyone’s situation is different…a person who does not plan on living in the home long term, may be better off focusing on their costs.