Friendly, Professional Mortgage Service in Marietta, Georgia
Friendly, Professional Mortgage Service in Marietta, Georgia
Discover the importance of credit in the mortgage process and learn how to optimize your credit score to secure the best mortgage rates. Our blog posts in this category offer expert advice on credit management, credit score improvement, and strategies for overcoming common credit challenges. From tips on paying off debt to understanding how credit inquiries affect your score, our articles provide valuable insights to help you navigate the complex world of credit and achieve your dream of homeownership.
If you’ve shopped for a mortgage, you’ve probably heard a lender mention “buying points.” For many homebuyers, mortgage points can feel confusing—but they can be a powerful tool for lowering your monthly payment and saving money over the life of your loan. Here’s what mortgage points are, how they work, and when they may make
What Are Mortgage Points? A Simple Guide to Saving Money on Your Home Loan Read More »
By John Becker How the New Credit Scoring Model Could Affect Your Future Financing If you’ve ever applied for a mortgage, you know your credit score plays a big role. What you may not know is that a new scoring model—VantageScore 4.0—is changing how lenders evaluate credit, and it could affect you the next time
What You Should Know About the New VantageScore 4.0 Read More »
Credit Score Improvements The CFPB (Consumer Financial Protection Bureau) shared a concern to the credit industry regarding medical debt and consumers. The director of the CFPB stated that 58% of the debt and collections on people’s credit reports is medical debt. As a result, the credit bureaus have agreed to alter the data reported on
New Credit Score Improvements & Home Renovations Read More »
With property values in much of the country up over 20% year-over-year and more and more catastrophic weather-related situations, real estate property taxes and homeowner’s insurance are likely to be significantly higher this year. If you are a homeowner and you escrow as part of your monthly payment for taxes and insurance, you receive an
Property Taxes and Homeowners’ Insurance Increasing Read More »
Scott’s Perspective Just about a year ago, I had the distinct privilege of listening to a gentleman who is quite inspiring. You see, I am involved in a national coaching program for mortgage professionals, and we have two retreats each year. Jesse Itzler spoke at our fall retreat and challenged all of us to live
Mortgage Update Fall 2021 Read More »
Now is Your Unique Opportunity to Cash Out Earlier this year, rates started moving higher because of inflation fears. Since that time, the Federal Reserve is done a good job of telegraphing that this inflationary pressure we are feeling is likely transitory. Because of this, investors have become comfortable with this synopsis and rates have
Mortgage Update Summer 2021 Read More »
According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be
What Credit Score Do You Need for a Mortgage? Read More »
The 7-Year Reporting Period is the time allowed for derogatory items to remain on your credit reports. Why It Matters Knowing what is in your credit report, and how long it can be there, is important because it helps you manage your credit, evaluate your credit obligations and improve your credit rating. What You Need
Credit Reporting & The 7-Year Rule Read More »
If you are considering purchasing a home and you have student loan debt, consider speaking with a mortgage professional as a starting point. There are all kinds of rules around how these are treated when it comes to qualifying for a mortgage. How your student loans are structured or in what stage of repayment they
Student Loan Payments & Mortgage Qualification Read More »
Part of the mortgage qualification process includes what is called your debt to income ratio (DTI). This your gross monthly income divided by the lump sum total of your proposed housing payment and any other monthly obligations that show up on your credit report. This would include car payments, student loan payments (this links to
The American Express Payment Problem Read More »