Do you have Student Loan Debt? Are you trying to get a conventional loan for your new house? I’m Matt Padgett with Keystone Mortgage. For all of you out there who have student loan debt. It is very important if it’s not showing up on your credit report. If it’s deferred and not showing a…
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What is Earnest Money? Hi, Matt Padgett with Keystone Mortgage here. Today, I want to talk about earnest money. Earnest money is good faith money you give when you’re making an offer or purchase contract. Earnest money should always be written out of your primary checking account so there is a good paper trail for…
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Are you getting ready to sign a contract on a house and have a lot of questions? Hi, this is Matt from Keystone Mortgage. We’re getting a lot of people calling here saying “Hey we’re looking at homes, we’re about to put contracts on homes” and they have a lot of questions and a lot…
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Hi, this is Matt Padgett with Keystone Mortgage. I’m getting a lot of questions likely about interest rates.Where are interest rates going? Are they going down or are they going up? Let me tell you one thing for sure. If I knew where interest rates were going, I’d be making this video from my boat…
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There can be a lot of fear when buying a home. We at Keystone Mortgage have found this to be a very common experience. The process in finding a home is a very unsettling and nervous time even for the most experienced home buyer. In my life, what I have found is that in the…
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Matt Padgett, Mortgage Broker in Knoxville, TN often get’s asked, “What is upfront mortgage insurance?” You most typically find upfront mortgage insurance when you’re dealing with government loans. Whether it be a VA loan, a USDA role development loan or an FHA loan. This is a premium that is added to your loan amount to…
DetailsMatt Padgett with Keystone Mortgage gets asked often, What documents do you need to pre-approve for a mortgage?” There are only four documents that are needed to pre-approve for a mortgage. 1. Two years of tax returns 2. Two years of W-2’s 3. 60 days or 2 months of bank statements 4. 1 month worth…
DetailsA question I get all the time is, “How Much of a Down Payment Do I Need?” To answer how much of a down payment you will need, it depends on the loan type. For a conventional mortgage, you need at least a 3% down. The three percent is kind of like a new down…
DetailsPeople ask me, “What Does an Underwriter Look For on a Mortgage Loan?” There are three things: First of all they’re looking for income. They’re looking for consistent income that shows you your ability to pay the monthly debts and they really like for this income to be consistent over a period of time such as two…
DetailsPeople often ask me “How do I get good credit?“ “Whether I’ve had bad credit in the past or I’ve had no credit, what’s the best way to ensure in the future that I have a good credit score and a good credit history?” Well, first of all you have to have good open accounts.…
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