Years ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history. Then things changed. Lenders studied the relationship between credit scores and mortgage delinquencies. There was a definite relationship. Almost half of those borrowers with […]
FICO® Score – a Brief Explanation
When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your FICO® score. “What’s a FICO® score?” is a common reaction. Each time your credit […]
Have You Ever Considered Purchasing a Home in Miami, Florida
Have you ever considered moving to beautiful Miami, Florida? Miami is a desirable community & great location. Miami, Florida boasts a variety of local landmarks, excellent schools, parks and much much more. Take a look at some of the most popular searches in Miami, Florida and the surrounding areas. See: Homes for Sale in Miami, Florida Not quite […]
Your Savings and Down Payment
Your First Step Toward Buying a Home When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you should do – before you call on an […]
Why You Should Not Make Any Major Credit Purchases
Don’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation. Every $100 you pay per month on a credit payment could cost you about $10,000 in home […]
Use a Buyer’s Agent
It’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed. First, find an agent who represents you and not the seller. […]
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