Saving for a down payment can be one of the biggest barriers to home ownership, and with lenders tightening credit over the past few years, a substantial down payment is even more crucial to securing a home loan. However, that’s not to say you cannot secure financing without a large upfront investment. Many mortgage lenders…
DetailsThis will be a great year for first-time homebuyers. With so many houses on the market, and mortgage rates so low, buyers can find great deals. Here are a couple of tips for those looking to buy their first house: 1) Talk with a loan officer from a local mortgage company (such as Keystone Mortgage)…
DetailsI read a statistic the other day that nearly 75 percent of consumers research products and services online before making a purchase. That got me thinking about researching mortgages online. It’s a great way to “shop smart,” but I recommend you keep a couple things in mind as you go cyber sleuthing for a loan.…
DetailsDebt—nearly all of us have it, and we all want to get rid of it. The problem is lots of people don’t know they are paying too much for their debt when they could easily pay less. Here are a few tips that will help you not only pay less on what you owe, but…
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DetailsOver the past few years, I’m sure you’ve heard about how mortgage rates are at historic lows, and truth is, they are. This chart, from the Federal Reserve Bank in St. Louis, clearly shows that the rate on a 30-year fixed-rate mortgage is the lowest (or at least near the lowest) it has been in…
DetailsIt’s no secret that the current housing climate is beneficial to buyers. It’s been difficult over the past few years to not hear about how mortgage rates are historically low, while home prices have fallen significantly. However, another wrinkle in the housing market which hasn’t been getting quite as much ink is the increasing cost…
DetailsOur lives are controlled by our debts. What we owe controls how much of our hard-earned money we actually get to keep, limits our purchasing power, and can hinder us when we want to make large purchases by determining both the amount we can borrow and how much we have to pay to take out…
DetailsYour credit report serves as an account of your financial history. It offers potential lenders a glimpse of where you’ve been so they can estimate where you are going. Based on that estimation, they will determine what they will charge you to borrow money or whether they will lend to you at all. Because of…
DetailsWhen shopping for a home, many sellers want to know that you can really afford their property before they will take your offer seriously. By getting pre-approved, you can go through the application process for a mortgage and have financing in place before you even start looking. This will help things move faster and smoother…
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