Have you ever wondered what an “FHA Loan was? That’s okay; we did too. Here’s what you need to know about this affordable home loan option.
Bye, Bye, FICO: Mortgage Credit Scores are Changing
For nearly twenty years mortgage lenders have relied on classic FICO scores to determine the eligibility of consumers applying for home loans. Now, an announcement made by the Federal Housing Finance Agency (FHFA) has warned us that things are about to change — and it may make it easier for thousands of people to buy a house.
Can I Get a Mortgage Pre-Approval in a Recession?
Given the state of the economy right now, many people are wondering if they can get a mortgage pre-approval during a recession.
While it is still possible, it’s worth finding out what a mortgage loan pre-approval is, why you need one, and how hard it is to receive one during a downturn in the overall economy.
What is PMI?
It turns out that the whole home buying process can actually be really complicated all by itself.
When you add in the mortgage application process you may as well multiply that confusion by two, if not more. So today I wanted to try and make it a little less confusing for you by going over one of the terms that you will probably see as you go through the whole process: PMI.
8 Things You Need To Qualify For a Mortgage
Buying a home is the single largest purchase many people will ever make in their lifetime. Millions of people in America have the dream of owning their own home. But, impulsive decisions and little-to-no planning can—at best—cause them to spend too much money, and at worst, disqualify them from receiving a loan altogether.
So what do you do?
It’s Getting Really Hard to Buy a House
You see, one of the most important deciding factors in determining how much your monthly mortgage payment will cost and ultimately how much house you can afford is about to change, and not necessarily for the better.
Mortgage FICO Scores: Increase Them in 5 Steps
The article below is a transcript of a video originally posted to my YouTube channel on March 30th, 2022. Hey guys, it’s Ray here. I…
What are Mortgage Credit Scores?
The article below is a transcript of a video originally posted to my YouTube channel on April 5th, 2021. Hey, it’s Ray! I wanted to…