Mortgage Mistake 3 - New Lines of Credit. When you are about to purchase a new home, you think about the wonderful, brand new shiny appliances you'll get. The furniture that will reflect your personality, the art, the accessories. Mortgage Mistake 3. Don't! There are multiple … [Read more...] about Mortgage Mistake #3-Opening New Lines of Credit
Mortgage Mistake #2 – Waiting Until You Can Make a 20% Down Payment
An even bigger mortgage mistake is waiting until you have enough money for a 20% down payment. It's true that when your down payment is less than 20%, your mortgage will cost you more, but if you wait, the financial benefits you realize by owning rather than renting will be … [Read more...] about Mortgage Mistake #2 – Waiting Until You Can Make a 20% Down Payment
Mortgage Mistake #1 – Moving Money Around
It’s not the house hunt that scares buyers off, it’s applying for a mortgage. It’s easy to mess up. Today is Mortgage Mistake #1 of a 5-part series. Mess up #1 - Moving money from one account to another. Many of you have heard that if you move your home-buying funds from one … [Read more...] about Mortgage Mistake #1 – Moving Money Around
Are you Considered Self-Employed? A Mortgage Lenders Viewpoint.
Mortgages for self-employed borrowers. What does that mean? If you are a self-employed borrower, is it more difficult to get a mortgage? Let’s first look at the definition of self-employed. Mortgage lenders and tax preparers look at that term differently. Maybe you work … [Read more...] about Are you Considered Self-Employed? A Mortgage Lenders Viewpoint.
Does Conflicting Credit Score Information Give you a Headache?
Some people think I’m too much of a fanatic about keeping credit scores high, (or getting them up there), but I know what a huge difference a great credit score can make in your day-to-day existence. If you buy or lease a vehicle, the total interest you pay varies by many … [Read more...] about Does Conflicting Credit Score Information Give you a Headache?
Tax and Insurance Impounds – Good Idea or No?
The question of tax and insurance impounds is one I usually get, even from experienced buyers. There are mixed thoughts on the matter. Your payment is made up of 4 components. Principal, Interest, Taxes, and Insurance. If you are required to also have Mortgage Insurance (as … [Read more...] about Tax and Insurance Impounds – Good Idea or No?
