Dax Dickson's (crecompanies) Blog

QualificationTake advantage of our Qualification Calculator to begin the process of determining the home value for which you qualify. You'll also need to discuss your particular financial details with a mortgage company. Like most industries, the mortgage industry uses its own jargon. Understandi...

Why do Interest Rates Change?There are several types of interest rates. These include:  Prime rate: The interest rate banks charge their best (prime) customers. Treasury bill rates: Treasury bills are short-term debt instruments used by the U.S. Government to finance their debt. Commonly called T...

How Do Rate Locks Work?In most cases when you shop for a loan, the rate and terms you are quoted represent those available that day. The rate quoted probably won't be available next month or next week. Therefore, you should only rely on the rate and terms a lender is willing to lock-in.  A lock-i...

 What is an APR?The APR, often referred to as the Effective Rate, is a rate which shows the true cost of borrowing. This rate is different from the nominal (named or note) interest rate stated in your loan documents. The Truth In Lending Simplification and Reform Act requires mortgage companies t...

What mistakes are commonly made when buying or refinancing a home? If you're like most people, purchasing a home is the biggest investment you'll ever make. If you're considering buying a home, you're likely aware of the complexity of the endeavor. Because of the numerous factors to consider when...

Credit RepairYou see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services. They all make the same claims: "Credit problems? No problem!" "We can erase your ba...

Can you increase the appraised value of a property? In general you do not have much control over the appraised value of a property. The appraiser is assumed to be neutral, objective and capable of providing an unbiased valuation of the property. Here are some things you can do in the event you be...

Appraisal MethodsMost appraisers use three approaches to establish the value of a property. The Sales Comparison Approach is normally considered to be the best indication of value for residential property.  Sales Comparison Approach: In this approach the appraiser finds three to four comparable p...

Why do Interest Rates Change?There are several types of interest rates. These include:  Prime rate: The interest rate banks charge their best (prime) customers. Treasury bill rates: Treasury bills are short-term debt instruments used by the U.S. Government to finance their debt. Commonly called T...

Here in Minnesota a town was all but wiped out.  Flood insurance was not required even though it was in a low river bed area.  Only two people in the entire town of Rushford, MN had flood insurance.  The rest are still trying to figure out what to do a month after the flood.Hopefully, this is som...