Mortgages

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.

Can Your Spouse’s Credit Score Kill Your Mortgage?

Can Your Spouse’s Credit Score Kill Your Mortgage?

Can Your Spouse’s Credit Score Kill Your Mortgage?

Save for maybe the diehard financial romantics, it’s a rare wedding where “credit scores” share billing with sickness and health. But it might be time to update those well-worn marriage vows. From that moment forward, your spouse’s credit profile will play a big role in your collective financial future. That’s especially true when the time… Read More

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

At-risk homeowners trying save their homes from foreclosure during the mortgage meltdown complained for years that banks were systematically stonewalling them. On Monday, federal regulators accused a financial institution of doing just that, alleging that Michigan-based Flagstar Bank intentionally frustrated homeowners and pushed some into foreclosure. The Consumer Financial Protection Bureau said Flagstar “failed …at… Read More

5 Ways to Save on Closing Costs

5 Ways to Save on Closing Costs

5 Ways to Save on Closing Costs

When you are purchasing a property, there are administrative costs that must be covered before you can become the owner. These are known as closing costs and include things like application, loan origination, appraisal, home inspection, credit report, attorney, appraisal and survey fees. Most of the time the homebuyer pays these. The typical closing costs… Read More

The Smart Way to Make an Offer on a Home

The Smart Way to Make an Offer on a Home

The Smart Way to Make an Offer on a Home

Deciding to buy a home is a huge decision — and the price is not something to take lightly. When you find a property you love within your budget, you want to be sure you are making a good offer to beat out other buyers without overpaying. 1. Conduct Research Looking at this transaction objectively will… Read More

Can You Afford to Buy a Fixer-Upper?

Can You Afford to Buy a Fixer-Upper?

Can You Afford to Buy a Fixer-Upper?

Many homebuyers are drawn to the lure of the fixer-upper. And with good reason, at least on paper. But the “buy low, sell high” ethos of fixer-uppers isn’t exactly a guarantee. There are plenty of people who snagged the worst house in a great neighborhood and turned it into their dream home. You’re just as… Read More

The Credit Building Trick That Won’t Help You Buy a Home

The Credit Building Trick That Won’t Help You Buy a Home

The Credit Building Trick That Won’t Help You Buy a Home

Planning to apply for a mortgage? If yes, an authorized credit card can be a double-edged sword. An authorized user credit card is opened for many reasons. For example, maybe your parents add you to one of their credit cards as an authorized user to help build your credit score. While this might improve your credit… Read More

What You Can Learn From Those Real Estate TV Shows

What You Can Learn From Those Real Estate TV Shows

What You Can Learn From Those Real Estate TV Shows

It seems that no matter who you bump into at a party or see on the street, everyone can discuss HGTV and those homebuying or home improvement shows. These television shows are so widely appreciated because almost everyone has to buy, sell and maintain a home of their own or rental property in their lifetime. But,… Read More

Help! I Lost My Job While I Was Buying a Home

Help! I Lost My Job While I Was Buying a Home

Help! I Lost My Job While I Was Buying a Home

Losing a job is tough enough. But what do you do if you find yourself out of work when you’re weeks or even days from closing on your dream home? Brutal. But it happens. Employment isn’t a requirement for getting a home loan – just ask retirees. The issue is ensuring there’s stable, reliable income… Read More

Baby Boomers Beware: You May Need a Birth Certificate to Buy a Home

Baby Boomers Beware: You May Need a Birth Certificate to Buy a Home

Baby Boomers Beware: You May Need a Birth Certificate to Buy a Home

In the compliant world of securing a mortgage these days, explanations and full supporting documentation are now considered to be the ‘norm’. Lenders must validate that a borrower really is who they say they are. One way a mortgage lender verifies a borrower’s identity is by their Social Security Number. But there’s a catch. If… Read More

Can I Actually Rent-to-Own a Home?

Can I Actually Rent-to-Own a Home?

Can I Actually Rent-to-Own a Home?

In today’s economy, there are many people who would like to become homeowners but lack the means to do so. For them, a rent-to-own arrangement can appear to be an attractive option. But how do these arrangements work and what are the potential shortcomings? Though there are variations, the basic lease-with-option-to-buy arrangement works like this:… Read More

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