Monthly Archives: November 2008
11 NovQuickly Increase Credit Score
Many tools are available to mortgage lenders and one of the tools I often use in my business is a Credit Analyzer tool provided by Advantage Credit of Colorado. By utilizing this tool and the experience gained from working with many customers, I have found ways to improve credit scores quickly to help in qualifying [...]
Read More ...11 NovGovernment Mortgage Loans
Most of the time people are talking about Conventional Mortgage financing when they talk about a mortgage. Conventional loans offer the most flexibility on the terms and offer unique programs to fulfill the needs of just about every customer. That was the case until recently, when the “mortgage crisis”, as it is being called, occurred. [...]
Read More ...07 NovOh No…Credit Report Inquiries!
“I don’t want you to pull credit because my credit score will drop”. This is a phrase I hear all too often when I am working with potential home buyers. So instead of having the fear without understanding the impact an inquiry has on your credit score, I figured I would explain how inquiries really [...]
Read More ...06 NovSuccessful Qualifying – The Three C’s
The question of what it takes to qualify for the best terms and interest rate on a mortgage comes up quite often in my discussions with potential home buyers. There are three factors lenders consider and you should consider too if you want the best possible terms for mortgage financing: Credit, Capacity and Collateral. Credit: [...]
Read More ...05 NovTo Fee or Not to Fee?
Regardless of how a mortgage lender structures a mortgage for you, there will always be a cost that you will pay to obtain a mortgage. The cost may be through up front fees, such as an application fee, or sometimes itemized fees charged at the time of closing. Sometimes, there may even be a way [...]
Read More ...03 NovHow Much Mortgage Can I Afford?
Determining the amount of mortgage you can afford is normally a personal decision but the lender will have their two cents. Consider both what the lender looks at and what you are comfortable with. Let’s compare how each of these two numbers are or should be determined: Your Comfort Level: Determining the payment you would [...]
Read More ...01 NovHow Mortgage Lenders are Paid
Ever wonder how your mortgage loan officer is paid? Well, you will find out today… Lenders are compensated in two ways: the front end and the back end. The front end is everything you can see and know about while the back end is invisible to you. Front end compensation includes any fees or upfront [...]
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