mortgages unlimited: Credit Report Inquiries, what is the real story?
- 11/29/18 12:26 PM
Credit report inquiries, What is the real story? Minneapolis, MN: As a Mortgage Loan Officer, I’ve pulled and reviewed a lot of credit reports in my day. I’ve also spent an incredible amount of time debunking the irrational fear so many people have about credit report inquiries.
This one sentence is all most people need to know.
STOP worrying about it.
For the vast majority of the people, the vast majority of the time, you should never ever give a second thought to an inquiry on your credit report. It just isn’t what people think.
So What Is A … (1 comments)
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mortgages unlimited: The Digital Mortgage Hype
- 07/18/18 03:44 PM
The Digital Mortgage Hype
It is 2018. The number of people who physically step into a bank or mortgage lender to do a home loan application is dwindling everyday. The vast majority of people now complete an online loan application on a desktop computer, iPad, or even apply via a Smartphone.
Technology allows lenders to do more parts of the process electronically that ever before, including electronically signing your application documents, secure uploading of your documents, and even apps that let you check the current status of your application 24/7.
Very cool technology, with this process now commonly referred to as a 'Digital Mortgage'.
I … (0 comments)
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mortgages unlimited: Home shopping? Get Pre-Approved First
- 06/13/18 12:08 PM
Home shopping? Get Pre-Approved First
Minneapolis, MN: People often make the mistake of starting a home search without knowing what they actually qualify for. Falling in love with a $400,000 home and finding out you qualify for $200,000 can be heartbreaking. Thinking a loan approval will be easy, only to find out you have issues, or don’t qualify for a program you think you do, is another concern.
Virtually no Realtor will show homes to clients who have not been pre-approved, and virtually no seller will accept any offer without a pre-approval letter for this very reason. Being pre-approved gives both … (1 comments)
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mortgages unlimited: The Closing Costs are 3% myth
- 02/07/18 08:14 AM
The closing costs are 3% myth debunked I just heard it again, a Real Estate Agent saying average closing costs to obtain a home mortgage loan are about 3%.
This simply is way too broad a statement about actual closing costs.
As an actual Minnesota mortgage lender for the past 26-Years, the perception that mortgage loan closing cost are about 3% has NEVER been really accurate. I believe this gets spread around primarily because a conventional loan only allows for seller paid closing costs of 3% ( FHA Loan is 6%: VA Loan is 4%, convention is 6% with a large down payment ).
About 1/2 … (1 comments)
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mortgages unlimited: The truth about inquiries on your credit report
- 01/15/18 11:55 AM
The truth about inquiries on your credit report (it isn't what you think).
Minneapolis, MN: As a Licensed Mortgage Loan Officer, I pull and review thousands of credit reports every year. The confusion from the general public about what inquiries are, and how they effect your credit is overwhelming.
The quick thing to know?
For 99% of people 99% of the time, you should NEVER ever worry or be concerned about a lender reviewing your credit, or generating an inquiry.
There, I said it. Stop worrying!
Historically, the presence of inquiries on a credit report has only a small impact on credit scores, if any impact … (2 comments)
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mortgages unlimited: REFINANCE your existing mortgage loan - When and Why
- 11/21/17 05:58 AM
REFINANCE your existing mortgage loan - When and Why
Minneapolis, MN: The first rule in refinancing your home is that there are NO RULES. You should refinance if it makes sense for you.
Many people still think the "Rule Of Thumb" is that that if you could lower your interest rate by 2% or more then you should refinance; Depending on your situation, it may make sense for you to refinance even if you can lower your rate by only 1/2%, or make sense even if your rate or payment go up.
The most common refinance lets homeowners reduce their monthly payment. Just imagine … (0 comments)
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mortgages unlimited: Why fall home buying may be better
- 09/28/17 10:42 AM
Minneapolis, MN: People buy homes all year around, but especially in colder climates, home sales numbers falls in the fall and winter months, then picks up dramatically in the spring.
Fall and Winter are great times to buy a home.
While coming out of hiding inside from the winter, and feeling the itch to buy a home in the spring is common, it might be better to actually buy a home in the fall or winter.
Fall and Winter Buyer Advantages
There are more homes on the market in the spring, but there is also a lot more competition for those homes. Also, many buyers … (0 comments)
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mortgages unlimited: Reasons why you can buy a home with a very small down payment
- 07/11/17 10:01 AM
Reasons why you can buy a home with a very small down payment The lack of down payment money is by far the biggest reason people do not believe they can buy a home.
A recent survey even indicated a whopping 44% of non-homeowners thought you needed at least 20% down payment, and that simply isn't true for most home buyers. Clearly mortgage companies and real estate agents need to do a better job of educating non-home owners. The reality is very few people need anywhere close to 20% down payment, and most people can buy a home in the areas … (0 comments)
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mortgages unlimited: Mortgages Unlimited, Top 150 Workplace 2017
- 06/29/17 11:31 AM
MINNEAPOLIS, June 26, 2017. — Mortgages Unlimited, Inc, a mortgage company based in Maple Grove, MN, has been named one of the Top 150 Workplaces in Minnesota by the Star Tribune.
A complete list of those selected is available at StarTribune.com/topworkplaces2017 and was also published in the Star Tribune Top Workplaces special section on Sunday, June 25.
Mortgages Unlimited was ranked 14th on the small company list, out of a total of seventy companies, and also made the list in 2016, ranking 5th on the small company list.
As a private, locally owned mortgage company currently serving Minnesota, Wisconsin, and South Dakota, Mortgages Unlimited is amongst … (0 comments)
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mortgages unlimited: Mortgage rates to rise soon??
- 12/16/14 12:30 AM
Mortgages rates in the US continue to hover near all time lows.
But this doesn't mean they will continue to stay low. Deflation is continuing to spread because of oil prices. These deflationary concerns are the focus of today's Fed meeting, as it debates when to begin increasing interest rates. The general consensus among analysts, is not today, but very likely to be by late spring 2015.
Interest Rates Worldwide
Yesterday Russia tried stabalizing the Ruble by increasing rates 6.50% in one swoop overnight to a whopping 17% after shockwaves from collapsing oil prices killed currencies tied to commodity prices.
Is … (0 comments)
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mortgages unlimited: How Soon Can You Get A Mortgage After a Short-Sale?
- 06/25/12 08:12 AM
How Soon Can You Get A Mortgage After a Short-Sale?
Depending on which lending institution you ask you will receive different time-frames allowed to purchase again after a short sale or foreclosure. The reason is most lenders have credit overlays, which translates into stricter underwriting guidelines than Fannie Mae and FHA have published. There are lesser time-frames allowed if there are documented Extenuating Circumstances involved beyond the control of the borrower, such as serious illness or death of a wage earner, and the borrower has re-established good credit since the foreclosure. Divorce, loss of employment, inability to sell the property and job transfer or … (3 comments)
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mortgages unlimited: Start saving money now on your VA Home Loan
- 06/09/12 11:51 PM
Mortgage Rates are at Historic Lows. Start saving money now on your VA Home Loan! Minneapolis, MN: If you are a veteran, you are eligible for a great benefit, the VA Home Loan. If you currently have a VA Home Loan, you may qualify for another great benefit, the VA Streamline Refinance Loan.
Officially known as The Interest Rate Reduction Refinance Loan (IRRRL), it is one of the easiest refinance loans available today. The VA Streamline Refinance is the second best programs offered to you through your housing benefits from the Veterans Affairs (the first was buying the home with a VA Home Loan!)
Potential NO … (0 comments)
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mortgages unlimited: Don't worry about someone pulling credit when shopping for a mortgage
- 09/29/11 04:47 AM
Shopping for a mortgage loan? The average person DOESN'T need to worry about inquiries on your credit report
We've all heard it before. Having someone pull your credit will reduce your credit score. Sadly, many people end up making some poor decisions based on half truths, and bad information.
The fear of reduced credit scores with the occasional pull from a creditor is the most annoying, misleading, and misunderstood thing I hear every week in the mortgage business. If you are worried about "inquiries on your report", this isn't the concern most people think it is.
What to know about … (2 comments)
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mortgages unlimited: Zero Down Home Mortgage Loans Are Here!
- 04/30/11 01:34 AM
Zero down payment home loans are back. Actually, some of them never went away. VA and USDA Rural Development are two very popular home loan options.
Learn more by watching today's "Royal" performance. CG Live from London.
Watch more Real Estate Agent News and Information from Joe Metzler, MLO
(C) 2011 - Joe Metzler - Mortgages Unlimited, St Paul, MN #274132. Re-blog but do not steal!
We lend in MN and WI ONLY. Searching rates on home loans, rates for refinancing your mortgage in MN or WI. We have some of the best rates on home loans! … (3 comments)
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Credit report inquiries, What is the real story? Minneapolis, MN: As a Mortgage Loan Officer, I’ve pulled and reviewed a lot of credit reports in my day. I’ve also spent an incredible amount of time debunking the irrational fear so many people have about credit report inquiries.
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