How to Buy a House with No Credit Score
Good credit is necessary for easily securing a home mortgage. But what if you don't have a credit score?
First things first: most people do have a credit score. If you have debt of some kind, like a school loan or credit card, then you ...
Posted by Paula Henry on February 24, 2015 in Buyer Resources
Can You Get Approved? Mortgage Qualifications for Buying a Home
Go to any mortgage lending website and you'll see images of smiling families and beautiful homes accompanied by text that makes it sound like lenders are standing by just waiting to help you find the loan that works for you regardless of your ...
Posted by Paula Henry on December 7, 2014 in Mortgage News and Info
What You Need to Know About Down Payments
Buying a home is an exciting event, but it can also be filled with lots of questions, especially for first-time homebuyers. You’ll probably hear unfamiliar terms like equity, mortgage, down payment, and more—and you’ll hear them ...
Posted by Paula Henry on October 16, 2014 in Buyer Resources
Financial Advice and Your Mortgage Lender
When you begin your search for a new home, you will also be searching for the best loan program and lender for your specific needs. Knowing the terms and costs for your loan is crucial to making a good financial decision, since fees charged by a ...
Posted by Paula Henry on June 27, 2012 in Mortgage News and Info
What is Included in My Monthly Mortgage Payment?
After taking out a mortgage loan to purchase a home, you will be provided with a dollar figure that you must pay each month in order to repay your loan. Whether interested in Bethesda condos or a home in Indianapolis, it is helpful to have a clear ...
Posted by Paula Henry on March 2, 2012 in Mortgage News and Info
Simple Real Estate Definitions : Refinance
A mortgage is a contract between a lender and borrower, defining the terms by which a home loan must be repaid. The paperwork, signed by both parties, includes provisions for things like:
The interest rate
The length of the loan
The amount ...
Posted by Paula Henry on December 12, 2008 in Real Estate Terms
If My Mortgage Lender Fails, Are My Payments Still Due?
Last week, federal regulators seized mortgage lender Washington Mutual. The Seattle-based thrift became the third 'big name' lender to close its doors since July, joining IndyMac and Lehman Brothers. In 2007, these 3 lenders ...
Posted by Paula Henry on September 28, 2008 in Mortgage News and Info
Comparing Payback Periods On 15-Year, 20-Year and 30-Year Mortgages
On all principal + interest home loans, the first few years of payments include a lot more money going to interest than to principal. This is because mortgage repayment schedules are front-loaded with interest, meaning large-volume principal ...
Posted by Paula Henry on September 16, 2008 in Mortgage News and Info
Why It Will Be Cheaper And Easier To Buy A Home This Week Versus Next Week
Mortgage financier Fannie Mae is toughening its mortgage application decision-making process effective Monday, June 2, 2008. The new guidelines will force many Americans to face higher mortgage rates, higher loan fees, or to be shut out from ...
Posted by Paula Henry on May 29, 2008 in Mortgage News and Info
Did You Know : The Lifespan Of A Mortgage Approval
Mortgage approvals don't last forever. A conforming mortgage approval from Fannie Mae or Freddie Mac has a shelf-life of 120 days. After 120 days, the approval expires and a mortgage applicant must re-submit his application for ...
Posted by Paula Henry on February 7, 2008 in Mortgage News and Info