Explore our blog for insights on buying, financing, remodeling, and taking care of your home.
If you’re thinking about buying a house, you’ve probably heard the term “credit score.” This 3-digit number tells a bank how likely it is that you can pay back your loans, and it’s based on things like the amount of debt you have, loans you’ve had in the past, and your repayment history. The higher your score, the more likely it is that a bank will lend you money. You’ve earned your score by taking good care of your finances, so you want to be careful about anything that might take away from it. And one thing that can subtract points from your score is a credit inquiry. “But wait!” you say. “Aren’t I supposed to get pre-approved for my mortgage before I start looking at houses? And doesn’t a pre-approval count as a credit inquiry?” Good question, but when it comes to pre-approval, your credit score is safe. Here’s why.
Every once in a while, the stars align and things fall perfectly into place. That’s the case right now, with tax returns and stimulus checks coming in just in time for the spring home buying season! With a little planning, you can use this income to put together a down payment for your next home.
It’s great to be your own boss. That is until you need to convince someone to give you a loan. But with a good plan and support from your loan officer, you’ll find that buying a home is one more American dream you can achieve.
Good credit, low debt, and a steady income could get you low interest rates and terms.
While no one has ever said buying a home is a simple process, wouldn’t it be nice to reach out and press the “easy” button when it comes time to qualify for your mortgage. If you’re an active member of the military - or a veteran - qualifying for a VA home loan might be the next best thing.
Are you looking to buy a new car, apply for a mortgage or pursue a new career opportunity anytime soon? Then you may also know that your ability to secure a loan, a low interest rate, and even that coveted new career position, is dependent upon a vital piece of financial information – your credit score.
Lace up your sneakers, you’re buying your first home!
With interest rates the lowest they’ve been in a while, you may be thinking about refinancing your existing mortgage into a new one. As a homeowner, there are good reasons to consider this option: to get a lower interest rate, to drop private mortgage insurance, or to pull cash from your home’s equity to consolidate debt or make home improvements. The short answer, of course, is to have more money each month for groceries, car payments and the orthodontic’s bill.
If you’re dreaming of owning your own place but finding it hard to save for the down payment, we’ve got good news. As a California resident, you may qualify for one or several down payment and closing costs assistance programs designed to make homeownership more affordable.
Buying a house can leave you feeling overwhelmed and under-informed. Not only are you spending every waking hour searching for your perfect home, you also have to think about how you're going to pay for it. And when choosing a mortgage, it's important to find one that works with your budget now, and also 15- to 30-years down the road as well. Because the world of home financing can be a confusing one, let's take a look at two of the most popular loans in the housing market: Conventional and FHA.