Credit is an essential part of the economy. Without credit, lenders would have no scale by which to create lending standards and determine who should receive credit and who should not. You need good credit to buy a car, get a high credit line amount credit card, and sometimes even to qualify for employment. When it comes to home buying it is no wonder why your lender is going to be concerned with your credit.
Selling your home requires a bit more than pulling the weeds, posting up pictures and waiting for the bids to start rolling in! There is a lot to consider when you want to sell your home. Don’t overlook these five things:
What is the first step to getting a mortgage? That’s easy, deciding to buy a home! Once you have done that knowing what to expect and identifying some possible road blocks will help you have confidence throughout the Mortgage process. With that said, our mortgage loan originators (MLOs) are here to guide you along the way, answer any questions you have and curtail any fears that arise—you don’t have to experience the mortgage process alone!
Ahhh, home sweet home. Dorothy spoke the truth when clicking her red shoes together, “there’s no place like home”. As humans, we want a home base, a place we feel grounded and connected. We want this for ourselves, our partner, our kids, and even our pets. It is achievable to an extent when it comes to renting but only to a small degree. The permeance of homeownership dials up this feeling in a major way. This feeling isn’t the only benefit to owning a home; let’s look at some of the benefits of buying versus renting.
Did you know that everyone’s mortgages can be financed through different types of loans? There are several loan programs that have been created over the years to open the doors for home ownership to people of all circumstances. For all you researchers out there; looking at the variety of home loan options is a great way to see what is available and comparing them can help you to see which ones might be the best option for you. However, researching all the loan programs out there is not necessary, our mortgage loan originators (MLOs) work with these programs every day and have been for years. By having a conversation with your MLO about your goals, circumstances and type of house you are considering, they can give you the best options available.
Don’t get me wrong, living in an apartment isn’t always terrible; I had access to tennis courts and a well-maintained pool all summer, just a few steps from my front door. But I also had to walk my bag of garbage to the dumpster in the pouring rain, rush home to get my UPS package before the office closed, and deal with loud neighbors, who had weird smells coming from their place. Plus, there are just some things that now, as a homeowner, I’m not willing to give up even for tennis courts and a pool. I thought I’d make a list to share with you! I would love to hear what you have come to enjoy about being a homeowner… leave a comment below.
Long gone are the days requiring 20% down on a house. Thank goodness! Could you imagine the struggle of a generation full of college graduates working entry level jobs trying to stay on top of student loan payments trying to save up tens of thousands of dollars? Homeownership would appear to be a far-off dream that may not be achievable. So how much is needed for a down payment? That depends on what kind of home loan for which you qualify.
Limited Time: Down Payment Assistance in Kentucky Counties
For many first-time homebuyers, the biggest obstacles to overcome when buying a house are likely the down payment and credit score. For some, their credit history may not be as established as a mortgage lender would like or it could have become damaged from a series of financial missteps. Credit is a topic for another day; today we are going to focus on the down payment. Let’s be honest with one another, saving money is hard. So, our attention is piqued when we hear things like, “No down payment”. But how true could that statement be?
You may have heard, “it is a good idea to meet with your mortgage loan originator (MLO) before house hunting”. If you haven’t, well let me tell you, “it is a good idea to meet with your MLO before house hunting.” Even though I’m writing this from my office, inside one of the largest independent mortgage banks in Kentucky, this tip is not something concocted by MLOs to get you in the door. Getting prequalified can save you some heartache, speed up the process, and could even help get you the house you want!