First-time homebuyers are often surprised to learn they can qualify for a mortgage, especially if they don’t have great credit. But, changes to the way FICO measures credit scores are set to make it more difficult for many people to
qualify. If you’re looking to buy a home this year, or anytime thereafter, here’s what you need to know.
A credit inquiry is when an individual or a business requests a credit report from one or all of the three main credit repositories. These repositories are Experian, Equifax and TransUnion and all three use the very same algorithm
when calculating the crucial credit scores.
What is “mattress money?” It’s a funny term but it means funds that someone owns but does not have a paper trail. Let’s look at how mattress money can be viewed by a lender and how to document these funds. It’s a good thing to come across
some extra cash. Maybe the sale of a car or a small inheritance or someone just gave you some funds to help you buy a home in the future. However it’s acquired, it’s always better to have more money than less, right?
Does your house still excite you as much as the day you bought it? When you spend time there, do you feel refreshed and excited, or just plain bored?
After a few years of ordinary living, it might be time to give your house a facelift. We’re not talking about a full makeover that will set you back thousands of dollars. These tips are simple, yet effective when it comes to freshening up the space where you spend so many hours of your life.
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "This week's mortgage rates were the second lowest in three years, supporting homebuyer
demand and leading to higher refinancing activity. Borrowers who take advantage of these low rates can improve their cash flow by lowering their monthly mortgage payments, giving them more money to spend or save."
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