mortgage: 7 Habits to build a great credit score.
- 07/09/15 02:16 PM
Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, but it takes responsible financial choices with money, credit, and debt to achieve that. As FICO scores range from 300-850, with 680 considered good and above 720 excellent, it’s important to understand these seven habits that will increase your credit score and improve your finances over time. 1. Get your financial house in order. The first step to building a great credit score is setting correct habits with the rest of your finances. Document what you spend every month, eliminate the … (2 comments)
mortgage: Right now is the best time in history to refinance for many homeowners
- 07/09/15 01:57 PM
Right now is the best time in history to refinance for many homeowners who are still eligible...but if they wait, they're sure to lose out. A recent report published by the Washington Post revealed that 20 percent of American households with mortgages – about one million of them - are eligible and would benefit from refinancing in today’s low rate environment, but have failed to do so. The failure of homeowners to take advantage of a potential savings via refinancing – an estimated $45,000 average savings over the life of each loan – is something that’s leaving economists scratching their heads. But there’s … (0 comments)
mortgage: Fun and rare facts about Monopoly, the world’s real estate game.
- 03/05/14 02:55 PM
The world’s most successful real estate agents buy and sell properties with reckless abandon, endeavoring to develop whole streets with houses and hotels, bankrupting their competition while trying to stay out of jail. It may sound like real life but we’re talking about Monopoly, the most popular board game ever. In fact, since it’s creation more than 100 years ago, 280 million sets have been sold and more than 1 billion people play in 111 countries. Here are some other fun facts about our first childhood lesson with buying and selling property: Monopoly was first conceived in the early 1900’s by Elizabeth … (3 comments)
mortgage: How much can you save with lower interest rates?
- 02/17/14 08:13 AM
A little number won’t make a big difference, right? Too often, that’s the mentality consumers have when purchasing things and using debt to pay for it, whether it’s a new car, putting that big vacation on a credit card, or even taking out a mortgage loan for their house. Wrapped up in the minutiae and excited about the purchase, consumers often take the first loan that is given to them or don’t adequately research or shop around for the best interest rates. But the difference in payments you make over the life of the loan can be HUGE! In fact, the … (1 comments)
mortgage: What will 2014 hold for the U.S. mortgage market?
- 12/28/13 06:23 PM
As 2013 winds down and we start looking ahead to 2014, there is both reason for optimism and reason for concern when it comes to the U.S. mortgage market. First, the rosy news: According to statistics unveiled by the Federal Reserve, this year was the first time since 2008 when total home loan mortgage debt rose. Residential construction jobs actually grew in November, a clear sign that new construction and housing starts are on the uptick nationally. Likewise, employment numbers in areas of the country that were hard hit by the housing crisis increased slightly ahead of … (3 comments)
mortgage: What credit score gets you the best interest rate on your mortgage?
- 10/26/13 11:34 PM
What credit score do you need to get the absolute best interest rates for a mortgage? That’s the question the Zillow mortgage division set out to answer with its recent survey. To come to the conclusion, the Zillow survey factored in data from 13 million loan quotes and 225,000 purchase loan requests from September of this year. They then compared that data to a similar study they did in 2010 to evaluate trends in credit and mortgage. Their findings showed that to get the best home loan interest rate, consumers need a credit score of 740 or better (out of a possible … (0 comments)
mortgage: Fannie and Freddie may disband as downtown problems head uptown.
- 09/10/13 03:00 PM
They say there are uptown problems and downtown problems, and U.S. mortgage giants Fannie Mae and Freddie Mac are now facing the former. The nation’s mortgage giants have gone from rankled and cash-strapped to ultra profitable with a few short years, bringing on a new set of challenges, and now a threat to their very existence if some lawmakers and investors get their way.
It was only 5 years ago that Fannie and Freddie were facing downtown problems, in the abyss of a failing U.S. mortgage market that rattled our financial system to its core. The Federal government, in an effort to … (0 comments)
mortgage: Fannie Mae finds increasing rates have little effect on home prices.
- 08/03/13 04:21 AM
If we’re listening to Fannie Mae, the jump in mortgage interest rates over the last weeks will have little or no impact on home prices. The mortgage giant released a report that studies the history of interest rates and the housing market all the way back to 1990, concluding that higher rates may slow down the number of home sales but no affect appreciation or the prices of homes.
"History suggests that interest rate increases at the level recently witnessed will not stop the current housing recovery," the report stated.
The comprehensive study of mortgage rates, home prices, and sales … (0 comments)
1. You don’t need to pay to see your credit report.
Most of us have been charged to pull our credit report at some time, or go onto one of those “free” sites, only to be hit with a $15 hidden fee to see the full report. But according to the Fair and Accurate Credit Transactions Act (the FACT Act), you are eligible to receive a free copy of your credit report once each year from each of the three major credit bureaus by going to annualcreditreport.com. This will show your credit history, not your score, … (0 comments)
mortgage: 5 Tips to Choosing a Great Loan Officer for Your Next Home Purchase.
- 07/16/13 11:26 PM
Whether you are a first time homebuyer or a seasoned investor, working with the right loan officer can make all the difference between a wonderful experience and a colossal – and expensive - headache. With internet ads, news reports, and even bus stop benches advertising loan officers, all claiming to be the best, how are we supposed to choose? There is no one “right” answer, but here are some tips to finding the best fit for you, and having a great experience on that refinance or home purchase. 5 tips to choosing a great loan officer. 1. Reputation. No … (0 comments)
mortgage: Loan officers: 10 ways to adjust your business as interest rates rise.
- 07/16/13 11:25 PM
Last week bore tough news for the financial markets, with interest rates quickly following suit. We all feel a little panic when that happens but it's the perfect time to reassess your marketing strategy and change with the times. With a smart business plan and a lot of hustle, you can actually turn this challenge into an opportunity, separating yourself from the competition and expanding your sales base. Here are 10 ways to do that: 1. Purchase loans. When interest rates rise, it’s an ideal time to shift your focus to purchase loans, not refinances. Always keep a good balance … (0 comments)
mortgage: White House urges banks to lend to borrowers with weaker credit.
- 07/16/13 11:23 PM
The Obama administration is urging banks to fund home loans to borrowers with weaker credit, trying to create momentum toward economic recovery. White house officials say they are encouraging banks to start lending to borrowers with weaker credit again and to take advantage of taxpayer-backed programs, like those provided by the Federal Housing Administration, that insure home loans in case of default. The Washington Post reports: President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened … (1 comments)
Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, but it takes responsible financial choices with money, credit, and debt to achieve that. As FICO scores range from 300-850, with 680 considered good and above 720 excellent, it’s important to understand these seven habits that will increase your credit score and improve your finances over time. 
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