If one is interested in buying a home I always talk to them about credit. I do this before I pull credit because I want them to have the highest score possible. Having the highest score possible may not be necessary when buying a home but it could impact the interest rate. Therefore I like to have a discussion about what one thinks is on his/her credit. Often when I'm talking to someone about credit and sometimes after I actually pull a credit report I see a dispute on the credit report. My experience is … (0 comments)
Digital mortgages is all the craze. Many if not most lenders are now on board to get documents esigned, home buyers and those who want to refinance can apply online. Frankly a good portion of the home mortgages I close I don't see the borrowers until closing. Online applications and esigning has made everything easier. Before you rocket your home mortgage, however, stop and think about what you are doing. I have originated home mortgages for over 20 years. Even if I get an online application I am going to touch base before I pull credit and … (0 comments)
credit: HOW TO APPLY FOR A HOME MORTGAGE
- 04/11/11 11:50 AM
HOW TO APPLY FOR A HOME MORTGAGE In my 14 plus years in the home mortgage business I've seen a lot of applications for mortgages. While it is always great to work with someone seeking a mortgage, when the borrower is organized and somewhat prepared it is even more rewarding. Here a few tips to assist a borrower who wants to get ready to apply for a mortgage; some of the first questions I ask a potential borrower. 1) Have you been employed at least two years? If you are self employed, have you filed at least two years to tax returns … (0 comments)
credit: ARE YOU READY TO BUY A HOME?
- 08/13/10 04:32 AM
ARE YOU READY TO BUY A HOME? How do you know if you are ready to buy a home? It is a great market for buying a home, interest rates are the lowest ever, there are so many homes on the market to choose from, in many ways timing could not be better. Along with all these pluses in the current market, it is also a more difficult time to buy a home because there are fewer loan programs, underwriting guidelines are stricter and let's face it, many of the homes you can buy are perhaps not in the best shape. … (1 comments)
credit: SHOULD FHA BE THE ONLY GAME IN TOWN?
- 03/23/10 03:09 AM
SHOULD FHA BE THE ONLY GAME IN TOWN? Nearly every time I think of FHA, the thought creeps into my mind that there is something wrong with this picture. With housing being in the dumps, Fannie and Freddie tightened up guidelines by increased fees for credit scores, loan to value, occupancy, property type. A long menu of changes along with most importantly requiring the use of Appraisal Management Companies to order appraisals.
FHA, which had sunk to a low level of usage over the last few years because of all the options available with a conventional loan, has risen up as … (0 comments)
BUYING A HOME, CREDIT DISPUTES CAN BE PROBLEMATIC
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