10
Jun
By
Credit Scoring, , , ,

Understanding Your Credit Score And How It Impacts Your Home Ownership Prospects

Understanding your credit score and how it impacts your home ownership prospects your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans. The score itself is a numerical reflection of your credit history. It gives lenders a way to discern your reliability before approving a loan like a mortgage for instance. Though this is the basic function of a credit score, it can also have a far-reaching influence over other aspects of home ownership. Mortgage Loan Approval: Will Your Score Make the Cut? First and foremost, the…
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09
Jun
By
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 9, 2014

Last week's economic news was mixed. Construction spending grew, but fell below the expected level. CoreLogic reported that April home prices continued to rise, but did so at their slowest growth rate in more than a year. Employment reports for private sector and government jobs indicated fewer jobs, but the national unemployment rate was steady. Here are the details: Construction Spending, Home Price Growth Slows Construction spending reported by the Department of Commerce reached $953.5 billion annually, and increased by 0.20 percent month-to-month against expectations of an 0.80 percent increase and the March reading of 0.60 percent growth. According to…
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05
Jun
By
Mortgage Tips, ,

How Pre-Qualifying Helps You Find the Right Home

Too often, home buyers are disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them. One of these options is to ensure you obtain a pre-qualification from your lender. It is important to understand the difference between a pre-approval and a pre-qualification. While both are helpful, they do not carry the same weight. What Are The Differences Between These Options? A pre-qualification allows a borrower to determine how much money they may…
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