3 Tips for Paying Down Your Mortgage Faster
Becoming debt free is everyone’s dream, but it becomes increasingly more difficult with everything costing more these days including the price of real estate. When it comes to your home, making some additional payments towards your mortgage can be a smart idea as it can save you thousands over the…
Longer Credit History Reporting May Impact Mortgage Decision
Starting in June 2016, mortgage lenders using Fannie Mae’s underwriting will be required to use trended credit data when underwriting single-family borrowers. Trended credit data gives lenders a more detailed history of the consumers credit utilization over a longer period of time. Now, lenders have access to the monthly payment amounts that a consumer has…
Late HOA Payments May Affect Credit Scores
A new partnership between Equifax and Sperlonga Data & Analytics will HOA and Condo Association late payments as well as account status data. Sperlonga is the 1st company to offer this non-standard credit data source to a leading credit monitoring company. Testing will begin in August 2016 will a planned…
Lender Checklist: What Your Mortgage Broker Will Ask For
At the very minimum, your mortgage broker or mortgage banker will request the following information when either pre-qualifying or completing a full mortgage application: W-2 forms — or business tax return forms if you’re self-employed — for the last two or three years for every person signing the loan. Copies…
6 Creative Ways to Afford a Home
Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov….
10 Ways to Prepare for Home Ownership
If you are thinking about becoming a home owner, go through these 10 checkpoints before you begin a search or contact a Realtor®. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. Develop your home wish list….
FHA Approved Condos in Broward County
Buying a condo can be more difficult in 2014 due to new FHA Rules and Requirements. Condominiums must now be approved by the FHA for potential buyers who wish to purchase using FHA loans. To determine if a condo is FHA approved, your real estate agent or yourself can check…