If you have equity in your home, a cash-out refinance can help you tap into that cash. You receive a large sum of money at the closing and pay it back with your regular mortgage payment each month. You can use this money as you see fit. A few examples of ways people use them […]
Should you Buy Less House Than You Can Afford?
Thinking back to the housing crisis in our not too distant past, buying more house than you can afford could be the biggest mistake you make. It used to be that people bought houses to ‘grow into.’ They figured it would save them money down the road because they wouldn’t have to move. They also […]
Alternative Home Financing Options if you Have Poor Credit
Qualifying for a home loan generally means you need good credit. At the very least, you need ‘decent credit.’ So what happens if you have poor credit? The good news is that you aren’t out of luck. The bad news is that you will have a little extra work to do. You can’t go to […]
How Soon Does a New Mortgage Show up on the Credit Report?
One of the advantages of having a mortgage is the boost it can give your credit score. Timely mortgage payments can greatly help your score. But, how soon will your mortgage show up on your credit report? It depends on several factors. Get Matched with a Lender, Click Here. In general, new mortgages take between […]
When Should you Refinance Your Subprime Mortgage?
If a subprime mortgage was your only option when you bought your home, don’t worry. There’s a chance to refinance it and get a conventional or government-backed loan. You’ll have to put a few things in motion in order to make this happen though. Compare Offers from Several Mortgage Lenders. First, determine why you needed […]
How to Qualify for a Mortgage With Just Bank Statements
Sometimes you can’t prove your income the standard way. In other words, you don’t have paystubs or W-2s to provide. You likely have tax returns, but if they don’t reflect your true income, it could be hard to qualify for a loan. Luckily, you are not out of luck. There’s one more way to qualify […]
Why Late Payments Can Cost you Big Time
You missed a due date and think it’s no big deal. You’ll just make the payment and move on, right? What you don’t know is how much that missed payment cost you. We are talking literally and figuratively here. Missed payments can affect you in ways you probably won’t realize until you try to get […]
Is Building a New Home a Smart Choice?
You ready to buy a home – congratulations! Now you have one very large decision to make – should you consider building a new home or buy an existing home? The answer isn’t an easy one. You have to think of the pros and cons and how they apply to you. Some people do great […]
When Should You Lock in Your Interest Rate?
You got pre-approved for a loan and found the perfect house. The next step is figuring out when to lock in your interest rate. Should you do it the minute you find a house? Should you lock it in before you even find a house? What happens if rates increase? We answer these questions and […]
The Types of Credit Look-Ups and How They Affect Your Score
Your credit score is comprised of many factors. The most important are your payment history and utilization rate. Another factor that often gets overlooked, though, is the credit look-ups or inquiries. These inquiries do have the potential to negatively affect your credit score if you are not careful. Compare Offers from Several Mortgage Lenders. What […]
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