credit: Understanding Mortgage Interest Rates
- 08/31/12 06:53 AM
One of the most frustrating aspects of boning up on how to buy a home – especially for the first-time homebuyer – is the lack of clear information. Articles all over the Internet claim that the homebuyer should “shop around for the best mortgage.” If this is your first time trying to obtain a mortgage, how are you supposed to know what to look for when you “shop around?” A little more information in these articles would go a long way in helping the newbie wrap his or her head around the process, right? Help is right here, my friend. Let’s … (1 comments)
credit: An Easy Checklist for Repairing Your Credit Score
- 08/08/12 06:45 AM
Life is tough when your credit score stinks. With the national economic mess of the past few years, millions of Americans can attest to that very real fact. Whether it was a foreclosure, short sale, deed-in-lieu of foreclosure, a job loss or just plain irresponsibility, there are some steps you can take to repair your credit score and get it back into the range where it is, once again, attractive to lenders and credit card companies.What is considered a good credit score? Credit scores range from 300 (the worst) to 850. Although a score of 700 will get you lower rates … (15 comments)
credit: Calculating Debt-to-Income Ratios: What is a Debt-to-Income Analysis?
- 07/11/12 10:34 AM
Debt-to-income analysis is perhaps the most important factor involved in getting approved for a mortgage loan or loan modification today. So how are your debt-to-income ratios calculated, how can you improve them and what could kill your deal? Is Your Debt-to-Income Ratio Killing Your Chances of Getting a Loan? With the extinction of stated income and No Doc home loans, your debt-to-income ratios will not just determine how much house you can buy but whether you can purchase a home or refinance a current loan at all. A few years ago lenders stretched debt-to-income ratios to 55 percent plus. Now you … (2 comments)
credit: How to Get a Mortgage With a Low Credit Score
- 06/22/12 02:20 AM
The current combination of low mortgage rates and rock bottom home prices means there has never been a more attractive time to buy a home, but do you even have a shot if your credit isn’t perfect? Is My Credit Score Really That Bad? A few years ago you could walk into a mortgage broker’s office and get a home loan with a credit score in the 500s, but those days seem to be long gone. Many loan programs demand at least a 680 credit score today, and if you don’t have at least a 620, don’t expect a call back. … (3 comments)
credit: The Lowdown on First-Time Homebuyer Programs
- 05/18/12 08:49 AM
Are there still any first-time homebuyer loan programs out there? How do you spot the fakes, qualify for the good ones and uncover hidden programs that can get you into your dream home with no money down? First-Time Homebuyer Programs: Myth or Miracle Loans? If you’ve done any preliminary home shopping at all or have browsed the Internet for loan options, you may have seen many advertisements promising amazing mortgage deals specially tailored to first-time homebuyers. Just to burst your bubble, the truth is that most of these loans aren’t any different than the rest of the mortgage options out there. … (2 comments)
credit: Understanding Fair Housing Laws
- 04/04/12 04:27 AM
It’s painful to think that there was a time in American history when discrimination was the accepted practice and not the exception. It took the death of civil rights activist Martin Luther King, Jr. and the actions of President Lyndon Johnson to begin the end of housing discrimination. The Fair Housing Act Title VIII of the Civil Rights Act of 1968 is also known as the Fair Housing Act. It makes it illegal to discriminate against another on the basis of race, color, national origin, gender and familial status. The Fair Housing Act covers all housing-related transactions, including: buying a home … (1 comments)
One of the most frustrating aspects of boning up on how to buy a home – especially for the first-time homebuyer – is the lack of clear information. Articles all over the Internet claim that the homebuyer should “shop around for the best mortgage.”
;)
;)
;)
