credit: My Credit is What!?! How do I fix that!?!
- 10/26/08 04:44 AM
There are many benefits to cleaning up damaged credit scores, even if you already own a home. By improving your credit score, you could save money on items such as car insurance, automobile loans, or any other type of loan. This is especially true when it comes to refinancing a home loan, because higher credit scores will always work in your favor. The goal is to secure the best interest rate available and save money. It's that simple. If you've ever had credit issues in the past but still managed to qualify for a home loan, it's likely that you took … (3 comments)
credit: Give Yourself Some Credit: - Easy Ways to Score Points with Underwriters
- 10/19/08 02:46 PM
We all know the phrase "buy low, sell high." Many of you may be wondering if now is the time to "buy low" in the real estate market. Prices are down, inventories are up, and interest rates are near historic lows. In this blog we look at how a smart investor or homeowner can become loan ready, and prepare their credit profile to take advantage of the buyers' market. Whether you are looking to invest, buy, or refinance now or in the coming months, your credit is going to play a more significant role in today's tight-fisted credit environment than it … (0 comments)
credit: Overview of Credit
- 07/29/08 10:03 AM
Even though an applicant can afford a mortgage today, will he or she continue to pay on it for years in the future? In short, what is the applicant’s financial reputation?The best guide to a person’s future action is the person’s past actions. The obvious place to start is with the applicant’s credit history. How has he/she handled previous mortgages? Has the applicant had trouble with credit cards? Has he/she paid off a car in a timely fashion? How the borrower will pay is usually discernible with established credit.One of the most important indicators of loan performance is the borrower’s credit … (0 comments)
credit: Verifying Your Down Payment, Closing Costs, Assets, Income and Debts
- 07/10/08 07:14 AM
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower. Down Payment & Closing Costs Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan. Take extra care to document the sources for any monies to be used for the … (0 comments)
There are many benefits to cleaning up damaged credit scores, even if you already own a home. By improving your credit score, you could save money on items such as car insurance, automobile loans, or any other type of loan. This is especially true when it comes to refinancing a home loan, because higher credit scores will always work in your favor. The goal is to secure the best interest rate available and save money. It's that simple. If you've ever had credit issues in the past but still managed to qualify for a home loan, it's likely that you took … (3 comments)
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