Education Will Ease the Consumer Experience
Millennial homebuyers will be a key group in the housing and financial markets in the upcoming year and since millennials are more educated about consumer choices than prior generations, they will be seeking more education about the available loan products and the loan process itself. While financial technology is accelerating rapidly and providing new opportunities…
Read MoreGuarding Against Identity Theft
Guarding Against Identity Theft For those of you that are freaked out about the possible dangers from the Equifax breach, please keep reading! A fraud alert allows creditors to get a copy of your credit report as long as they take steps to verify your identity. For example, if you give the bureaus a phone number,…
Read MoreThe Truth Behind Down Payments
Homeownership might be the most important goal for millennials, according to a recent report by NerdWallet, however, there is some misunderstanding as to how difficult of an obstacle securing a down payment truly is. NerdWallet commissioned an online survey of more than 2,000 U.S. adults conducted by Harris Poll to discover how Americans understand down…
Read MorePre-Qualification credit pulls & your FICO score
How much will inquiries really affect your FICO score? by Dave Hershman18 Jul 2017 I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the…
Read MoreIt Suddenly May Be Easier To Get A Mortgage!
Two major changes in the mortgage market go into effect this month, and both could help millions more borrowers qualify for a home loan. First, the nation’s three major credit rating agencies Equifax, TransUnion and Experian will drop tax liens and civil judgments from some consumers’ profiles if the information isn’t complete. Specifically, the data…
Read MoreThe TRUTH about Credit Inquiries & Your FICO Score
How much will inquiries really affect your FICO score? I am confused about how inquiries will affect a FICO score, especially when someone is shopping with multiple lenders for a home loan. Some say there is no real effect. Others say it can have a negative effect. Can you set the record straight? -Donnie from Nebraska …
Read MoreGSE Low Down Payment Mortgage Program Adjusts Area Median Income
Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low down-payment mortgage programs have changed recently, and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia. Fannie’s HomeReady and Freddie’s Home Possible offer low down payment mortgages for low- to moderate-income borrowers. AMIs establish income eligibility standards for those…
Read MoreEasily Raise Your Credit Score
Have a low credit score and wish you could find a way to boost it up a little? Did you know you as an established credit card customer you can simply call your credit card companies and ask for a credit limit increase on your accounts?? That’s right! A simple increase in limit on your…
Read MoreFinally…Some Good News!
The country’s largest source of mortgage money, Fannie Mae, now plans to ease its debt-to-income (DTI) requirements, possibly opening the door to home-purchase mortgages for a large number of new home-buyers. Fannie recently stated that they will be raising their DTI ceiling from the current 45% to 50% as of July 29! As usual, of…
Read MoreLow Cost USDA Home Loans
Are you’re tired of the hubbub of urban life and yearn to move a little more into a country setting where it’s a tad more serene? You don’t really need much money to do it you know. In case you aren’t aware, there’s a thing called a USDA Approved mortgage loan that finances up to…
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