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?
Mortgages
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?
Have You Ever Thought About Buying a Manufactured Home?
As home prices rise, more home buyers are looking at Manufactured Homes as a viable alternative to "stick built" homes. Historically, mortgages for these manufactured homes have been tough to find, but things, they are a-changin'. What Exactly is a Manufactured Home? If a … [Read more...] about Have You Ever Thought About Buying a Manufactured Home?
Why are mortgage calculators useless?
Lending websites almost always offer mortgage calculators, designed to tell you what size mortgage you qualify for. Heck - even my site has one. They are fun to play with but they are useless! Here's why. Your Income First, what interest rate will you plug in? This will vary … [Read more...] about Why are mortgage calculators useless?
Reverse Mortgages, the Good, the Bad and the Ugly
When you hear the term "Reverse Mortgage" what is the first thing that pops into your mind? Possible relief? Apprehension? Indifference? Reverse Mortgages mean different things to different people. If you are over 62 years old, living on a fixed income and unable to meet your … [Read more...] about Reverse Mortgages, the Good, the Bad and the Ugly
Millennials Flock to Low Down Payment Loan Programs
A report released by Down Payment Resource shows that 65% of first-time home buyers purchased their homes with a down payment of 6% or less. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings … [Read more...] about Millennials Flock to Low Down Payment Loan Programs