Purchasing a home is one of the largest financial decisions most people make during their lifetimes and yet, too few shop around for the right mortgage. However, the difference of one or two percentage points in interest rates could amount to thousands of dollars worth of savings for you. Good credit mortgages are widely available and there is a lot of competition for your business.
5 Tips for Choosing Mortgages for Those with Good Credit
June 20th, 2010
7 Factors to Consider Before Obtaining a Mortgage Loan
June 20th, 2010
Before you invest in a mortgage loan, consider all of your options. First, you should work through your loan options before you even shop for a home. The reason for this is quite simply because you need to know what you can actually afford before you make an investment. Once you know what you can afford, shopping for a home within your budget is easier to do.
Bad Credit Mortgages: Finding the Best Option
June 20th, 2010
Bad credit mortgages are available, if you are working on improving your financial circumstances. In the last two years, lenders have tightened up their lending requirements in the hopes of avoiding some of the foreclosure problems that have plagued the industry in that timeframe. Prior to this, bad credit mortgage loans were more readily available. Today, this is not the case.
How to Calculate a Debt to Income Ratio
August 5th, 2009
Figuring your debt to income ratio can be tricky. Most wage earners and salaried employees will breeze through this section, however if your commissioned or self employed you may want to pay close attention to this section.
When underwriters figure your debt to income ratio (DTI) they will use the same methods from lender to lender as it pertains to conventional mortgages. Below are a few rules when making these calculations. For this exercise we highly suggest that you have a copy of you credit bureau in hand.
Mortgage Relief for Mortgage Companies, Here we go again
February 25th, 2009
Let me get this right. We are going to give money to the institutions that are responsible for mismanaging their loans, so that they can give money to the people who mismanaged their mortgages, and administer these funds through Fannie Mae and Freddie Mac who guaranteed the bad loans in the first place. Stop for one second and say that out loud.
