Stop Paying Your Landlord’s Mortgage

It’s staggering when you think about the cost of living, especially if you’re a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company will effectively have reaped $36,000 of your hard earned cash! You’re paying their mortgage when you could be building equity in your own property.

What if I don’t have the money to buy a home right now?

Five Reasons to Refinance Your Mortgage

There is an old adage in the mortgage business that states that if you can improve your interest rate by at least two percentage points, then it is a good time to refinance. While that may work as a general rule of thumb, the truth is that there are many reasons to refinance. Here are a few:

Lower your interest rate.

Your Credit Score Could be a Deal Killer

We talk to so many credit challenged people
in the mortgage business it is alarming . I came
across this article and it is quite good. If you
know someone who could use it, pass it on.
 

5 credit score killers Source: money.cnn.com  As lending requirements tighten, a mediocre credit score will no longer land you that loan, mortgage or credit card you could have gotten a couple years ago…

Aunt Mildred Messed Up

Do You Have A Thousand Dollars To Simply Throw Away?

I know this may sound like a very silly question but that is exactly what happens every day to unsuspecting buyers
who do not get pre-approved for a loan BEFORE they go house hunting.

Let me explain with a typical scenario… 

You have read online that we are in a perfect buyer’s real estate market. Mortgage rates are at all time lows, housing prices are depressed because of the financial crises and there are a lot of houses for sale.

Turn that Dump into Your Dream Home

In this current real estate environment , don’t be afraid of a home that is in rough condition. You can pick out new carpet, get new appliances, put in beautiful kitchen cabinets, upgrade the bathrooms and still only put 3.5% down! Buy it at a low price and fix it up the way you want it. With the FHA, government backed Streamline 203k Mortgage you can finance up to $35000 in repairs into your mortgage to improve or upgrade your existing home or make repairs on a rough home you want to buy.

5 Tips for Shopping for a Mortgage

 

1 Know what you can afford.

Review your monthly spending plan to estimate what you can afford to pay for a home, including the mortgage, property taxes, insurance, and monthly maintenance and utilities. Make sure you save for emergencies. Plan ahead to be sure you will be able to afford your monthly payments for several years. Check your credit report to make sure that the information in it is accurate. A higher credit score may help you get a lower interest rate on your mortgage. 

2 Shop around–compare loans from lenders and brokers.