Refinancing is the process of replacing your current mortgage loan with a new one. It’s used when current interest rates are lower than the one you originally had, so that you can pay less monthly, get cash out, or shorten the length of your loan. Getting that lower rate depends on a few factors, however. […]
Why Choose a Mortgage Broker?
Why Choose a Mortgage Broker? When you apply for a mortgage with your bank, credit union, or a mortgage bank, you are almost always at a disadvantage. Why? There are several reasons: 1. Mortgage banks, banks, and most credit unions only offer their own mortgage products, rates, and closing costs. A mortgage broker offers […]
Why Get Pre Approved For a Mortgage?
Why Get Pre Approved? Why should someone get pre approved for a mortgage before looking at houses? Here’s a quick list of a few of the reasons: 1. Mortgage guidelines change… often! Just because someone was approved for a mortgage the last time they applied, does not mean that same person will automatically be approved […]
Understanding Your Credit Score
Understanding Your Credit Score Understanding your credit score will not only help you during the mortgage process, but any time you apply for credit or insurance. Your credit score matters to most financial companies – mortgage lenders, banks, credit card companies, insurance companies, etc. We all need these services, but we sure don’t like to […]