Our Credit.com experts are here to help you better understand mortgages so that you can make smarter home loan decisions. Find out what you should consider when shopping for a home loan, plus ways to get the best rates & deals. Learn how to approach re-financing, foreclosures and short sales. Understand how mortgage decisions can affect your credit score.
Prior to the financial crisis of 2008, when the real estate market was still thriving and properties were increasing in value year after year, it was very common for homeowners to take out second mortgages or home equity lines of credit (HELOCs). I’ve written previously about the financial shock many homeowners are now experiencing, as... Read More
You know how they say first impressions last? Or how you will never get a second chance to make a first impression? This is true of your house as you’re trying to sell it too. If you are expecting a buyer to make a purchase on your property, it’s important to make sure it looks... Read More
Many real estate experts suggest that you put at least 20% down on a home loan, but not everyone has that kind of cash on hand. The days of easy credit qualification may have come and gone, but there are still options out there for those with the right mortgage qualifications but without a proper savings or... Read More
You’ve likely heard plenty of city residents complaining about the high cost of living, while also hearing less and less about the next generation becoming homeowners. Some suspect this is the result of a post-recession economy, and some say that student loan debts loom too dangerously overhead. But while some city dwellers are hesitant to... Read More
Everyone wants a good credit score, there’s no doubt about it. Unfortunately, building a good credit history can sometimes feel like an overwhelming task. Fortunately, there are some tactics available that can help you build good credit. If you’re struggling to find a way to improve your credit score, check out these super-simple tricks. 1.... Read More
Getting a mortgage can be no small task. These days, borrowers have to meet stringent income and credit requirements to get a lender to finance their new home. But even with proper documentation and a stellar credit score, the process can go awry. Here are five things borrowers still do that can make getting a... Read More
So you are ready to apply for a mortgage or refinance your current mortgage to terms better suited for you? You may be focusing on your home or researching the details of the arrangement, which is great, but you might want to get down to work on paperwork. You will always need to prove your... Read More
The process of buying a home changes dramatically on Oct. 3. Here’s what you need to know about Know Before You Owe. What Is Know Before You Owe? That’s the name the Consumer Financial Protection Bureau has given to changes in the procedure for buying a home, and specifically, in obtaining a mortgage. Federal financial... Read More
Determining the affordability of living in a certain place involves a lot of variables, but the make-or-break expense tends to be how much it actually costs to have an address there — that is, what rent or mortgage payments are. One of the ways to calculate home affordability is to look at the average income... Read More
Looking for a mortgage loan with bad credit? Believe it or not, you may be able to seal the deal even with a credit score below 620. You’ll just have to be willing to jump through a few hoops. First, you’ll need to know where you stand. You can get your credit report for free... Read More
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