1% Mortgage Loans... What's The Catch? While there are several different types of 1% mortgage loans, there are really only two major keys to winning with a 1% mortgage loan. The first key is to make sure the loan is set up correctly from the beginning. And the second is to make sure you are ... Refinance Mortgage Rate and Mortgage Rates Refinance mortgage rate is the best rate available to qualified homeowners for refinancing their current home mortgage. Refinance mortgage rates vary from product to product and customer to customer. A consumer with excellent credit will qualify for the ... Refinancing Your Loan Refinancing your home or property is a big decision that could drastically affect your financial future, for the good or the bad, depending on how smart you go about the process. Take the time to explore all of the different refinancing options you have ...
Credit Scores: Don't Waste Your Money
Did you know that your credit score that you purchase online is not the same credit score your loan officer gets?
You probably know that when you apply for a mortgage, your loan officer gets all three credit reporting agencies reports with three different scores. From your three credit scores, most mortgage companies use your middle credit score to determine your credit worthiness.
Do you know that the credit score an auto dealer sees is not the same credit score your loan officer sees?
Imagine our surprise to find out that my husband's credit score for purchasing my new car one afternoon was 50 points higher than his top credit score was earlier in the day when he refinanced an investment house. This happened because credit scores get computed differently for mortgages and auto loans!
If you think that you have a great credit score because you recently bought a new car, think again. You may have been told that your credit score was 700 by a finance company. Therefore, you think that you have the perfect credit score to buy a house. Don't be surprised to hear from your loan officer that your credit score falls short of a prime rate mortgage loan.
You don't want to have your credit history checked too often. You do get a small penalty with a few points deducted when you have too many inquiries on your credit report. However, when you're shopping for a car or a home loan, the credit reporting agencies batch your inquiries into one. In other words, you can call several mortgage lenders to shop for the best terms and rates without losing points.
Don't waste your money buying your credit scores. These scores are not the ones real estate lenders get. Instead, get your credit scores FREE by calling a loan officer.
Jeanette Fisher teaches how to get out from under credit card debt, how to use credit to make money, and six ways to build strong credit to finance your first home and multiple investment properties. For a free ebook "Credit Tips for Mortgage Financing," see http://worryfreecredit.com/
MORTGAGE REFINANCE LOANS Kitchener, Ontario Canada, Canada - 3 hours ago The City of Kitchener is a city in southwestern Ontario, Canada. It was the Town of Berlin from 1854 until 1912 and the City of Berlin from 1912 until 1916. ...
Tips for Refinancing Your Mortgage NBC 29 News, VA - 4 hours ago Daniel Thornton and his family are in the process refinancing the mortgage on their home now that interest rates have dropped to historic lows. ...
