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
Mortgages
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?
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?
