Getting a mortgage can be exciting. It’s so exciting that many people make some pretty common mortgage missteps. Because this is the largest investment you will likely make, you should proceed with caution. Read our guide to see how to avoid the most common mistakes made today. Major Mortgage Missteps Following are some of the […]
The Top Ways to Choose the Best Subprime Lender
Just because you need a subprime loan doesn’t mean you should be taken advantage of. You still deserve a good subprime lender. Luckily, there are many out there. You just have to learn which ones are right for you. Read Everything Whenever you take out a loan, you shouldn’t assume anything. There is always fine […]
How to Identify and Avoid Predatory Mortgage Loans
After the housing crisis, predatory mortgage loans saw a severe decline. Now that the industry is coming back, we are seeing a resurgence of the issue. Before you get caught in the trap, know the signs and what you can do. What are Predatory Mortgage Loans? You will know a predatory mortgage loan when you […]
How Much Cash can you Take out on a Cash-Out Refinance?
If you have equity in your home, you may be eligible to tap into it with a cash-out refinance. This refinance gives you a loan for a higher amount than what you owe. The difference between what you owe and the new mortgage amount is the cash you receive. Below we discuss how much cash […]
Debt Consolidation and Debt Settlement: How They Differ
Drowning in debt isn’t fun. Luckily, you have options. Before you jump into a solution, you should know the consequences. Generally, you have 3 options – debt consolidation, debt settlement, and bankruptcy. We can all agree that bankruptcy is the lowest on the priority list. From there, you must decide between consolidating and settling your […]
How Far Back do Mortgage Lenders Look at Credit History?
A bad credit history could mean no mortgage. But just how far back do lenders look? Does one mistake scar you for the rest of your life? Luckily, it probably doesn’t. Unless of course, you don’t pick up the pieces and improve your credit moving forward. Here we will discuss how a bad history can […]
How Long Should You be Employed to Get a Mortgage?
Employers want stable employment in order to get a mortgage. The good news is, it doesn’t mean you must have 2 years at the same job anymore. In the past, this was the case. If you changed jobs, or worse yet, industries, you didn’t get a mortgage. Today, it’s possible as long as you have […]
Can you Get a Mortgage After you Retire?
Once you retire, you may still need loans, including a mortgage. Many people can’t pay for a new home in cash. Luckily, just like you may have obtained a mortgage before you retired, you can do it again. You just have to show that you make money, just not in the traditional way. Here we […]
How to Save for a Home Down Payment Faster
A traditional down payment is 20% of the purchase price of a home. According to Zillow, the average home price in the United States equals $199,200. This means at least a $39,840 down payment. That’s a lot of money! You probably think it will take you years to save that much. The good news is […]
Is Your Credit Score High Enough for a Mortgage?
Your credit score controls many financial decisions in your life. It also controls whether you remain a renter or become a homeowner. How do you know if your score is high enough for a mortgage? What does high enough even mean? Potential homeowners often ask these questions. We discuss the answers below. What is the […]