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These Credit Mistakes Will Hurt Your Chances At Getting Approved For A Mortgage

If you’re thinking of buying a home, you likely know how important a strong credit score will be. Mortgage lenders use this all-important number as the key indicator of your financial health. In fact, a less-than-stellar credit score can make or break your ability to qualify for a mortgage and buy the home of your dreams. So, how do you ... More

Many Homeowners Ignore Refinancing Benefits Due To Confusion

Refinancing is an important tool for the savvy homeowner, as it can offer a host of benefits. Unfortunately, research shows many view the process as confusing and choose to put off looking into it. Although refinancing does require several steps, it doesn’t have to be daunting. And for many homeowners, a refinance can mean lower monthly ... More

Understanding the ‘Short Sale’

If you’re searching for your next home and have come across listings for “short sale” properties, you may be wondering what that means. In layman’s terms, when a seller’s debt on a home surpasses the property’s market value, they may choose to avoid foreclosure by selling their home as a short sale. This requires bank approval, ... More

If You Can’t Qualify For A Mortgage Loan, Rent-To-Own May Be Your Solution

Are you hoping to buy a home even though your credit doesn’t qualify you for a traditional mortgage loan? If so, you may want to consider a rent-to-own arrangement. Renting-to-own allows a prospective buyer to live in a home and pay rent during a lease term, after which time the renter has the exclusive first option to purchase the home. ... More

Pro Tip: Consider Your House Purchase A Five-Year Commitment

If you’re thinking of buying a home, the financial side of the equation is probably foremost in your mind. After all, buying a house is likely the largest single financial transaction you’ll make in your lifetime. However, there’s another important consideration, too, and that’s the time commitment you’ll need to make in order to ... More

Having Buyer Anxiety? Try Rent-To-Own

If the thought of purchasing your first home brings on anxiety about the responsibilities, financial and otherwise, you’re not alone. In fact, many first-time prospective buyers struggle with making the commitment. After all, a home is likely the most meaningful – and most expensive – purchase you’ll ever make, so it’s natural to ... More

Everything You Need To Know About Private Mortgage Insurance

One thing is certain in the home purchase process – plenty of fees and payments to put a dent in your budget. One of the most common fees is Private Mortgage Insurance, commonly called PMI, and it catches many buyers unawares. If you’re a buyer taking out a conventional mortgage loan and making a down payment of less than 20 percent of ... More

Chances Are You’re Making A Home Finance Mistake

If you are one of the millions of Americans working to save for a down payment on your first home, you know that it can often feel like an uphill battle. Experts say, however, that avoiding the following common money mistakes can increase your chances of accomplishing your goal: Thinking in terms of a “monthly” budget Recent studies ... More

The New Year Is A Great Time To Review Your Credit Report

Aside from health and fitness intentions, financial goals are the second most popular New Year’s resolutions topic. Credit counselors recommend reviewing your credit report at least once per calendar year to ensure this all-important picture of your financial health remains accurate, and there’s no better time that the beginning of a new ... More

Use a Credit Card Responsibly To Improve Your Finances

It’s a fact: when credit cards are used irresponsibly, they can lead to financial ruin. That’s why they receive a lot of attention for the negative impact they can have on personal finances. However, not all consumers fall victim to living above their means and entering a cycle of revolving debt that can be difficult to emerge from. For ... More