Your credit score is going to be one of the first issues you face. You can and should check your score once a year. Your mortgage lender is going to be looking for a score of at least 620. The higher your score, the better your chances at the best interest rate. [...]
A good faith estimate will tell you exactly what to expect from your loan. [...]
What do I do when I know more than one Realtor? [...]
With owner’s coverage title insurance, if a problem arises with the title, it will be defended for you without cost to you [...]
A Mortgage Revenue Bond (MRB) is a form of Municipal Bond issued by State or Local Housing Finance Agencies. [...]
The Truth in Lending disclosure is given to the mortgage loan applicant and has critical information of great value. “Consumers need the proper tools to determine whether a particular mortgage loan is appropriate for their circumstances,” said Federal Reserve Chairman Ben S. Bernanke. “It is often said that a home is a family’s most important asset, and it is the Federal Reserve’s responsibility to see that borrowers receive the information they need to protect that asset.” [...]
A home equity loan could be a mistake for most people. Rather than increase your mortgage debt, consider doing a bi-weekly payment and pay the debt sooner while you build equity faster. Visit End2Mortgage.com. [...]
Buying a house requires some trust on all sides of the issue. When a buyer calls but doesn’t want to “commit” to working with me, I begin to have doubts about several things. How many other agents are being used? Why are they hesitant in contacting the mortgage company, especially since I gave at least 3 to compare? How serious can they really be when they won’t go in to loan application? What do they mean by “the best deal?’ Why do they insist on ONLY foreclosures? [...]
One of the best first steps in buying a home is to choose a Realtor. Your Realtor will be an invaluable source of information and resources. Your Realtor will be there to give you guidance and answer questions about the next important step – choosing a loan company and making application. [...]
This cautionary note is not meant to cause undue stress, but there are some things to consider. Just when you think you’ve crossed the finish line and you are near the final step of signing papers, it seems to move farther away. Some closings are very much like a never-ending story. [...]
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