Gathering and organizing your financial documents before applying for a home loan benefit you in many ways. As you gather your data, you’ll see things you probably haven’t considered before, such as…
Tag: home loan
What Happens at Mortgage Closing?
Closing on your home is the last step you’ll undergo before you finally receive the keys to your new home. If you prepare well, closing day would be among the most exciting…
Discount Points — How Do They Help You as Homebuyer?
Discount points in mortgage are used to reduce interest rate. You purchase these points directly from your lender and you pay them at closing. Many lenders don’t incorporate points when they advertise…
Home Buying Tips from Experienced Realtors
If you’re feeling unsure about buying a home now, you’re not alone. As headlines proclaim foreclosures, unemployment and an unstable economy, it’s natural that you have some hesitation about pursuing your dream…
Florida Improved Its Closing Cost Ranking
This year, closing costs sharply increased in many states, including Florida, based on a survey conducted by Bankrate. But Florida improved its ranking compared to other states. Last year, Florida was the…
Credit Unions Better Than Banks in Providing Quality Home Loans
Credit unions performed better than banks in the quality of home loans given to borrowers in the first three quarters of 2010, according to a study by compliance solution provider Quality Mortgage…
Emergency Homeowner Loan Program for Residents of 32 States
If you’re a distressed homeowner living in the 32 states that did not receive any money from the Hardest Hit Fund established in February, then you might qualify for the Emergency Homeowner…
Know Your Rights as a Mortgage Applicant
You can’t be discriminated against when you apply for a mortgage. Your lender can’t ask your religion or can’t ask if you’re pregnant. Your mortgage application should be approved or rejected based…
Qualify for a Home Loan Through Credit Rescoring
If your credit score on the FICO scale is 599 or below, your application for a home loan won’t be accepted by most lenders, as even those with scores between 599 and…