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.

Do You Understand Your Mortgage’s Fine Print?

Do You Understand Your Mortgage’s Fine Print?

Do You Understand Your Mortgage’s Fine Print?

When shopping for a mortgage, it’s critical to have a general understanding of how points affect your mortgage rate and payments, and ultimately connect to your bottom line. Below are some guides to help you identify your net tangible benefit on a home loan. Points When you pay points, you are paying a premium to... Read More

What Credit Score Do I Need to Buy a Home?

What Credit Score Do I Need to Buy a Home?

What Credit Score Do I Need to Buy a Home?

Buying a home may no longer be the American Dream (now people just want to get out of debt someday), but it’s still a huge goal for many. But if you don’t have a good credit score, that dream might go up in flames. A lot of things factor into getting a mortgage, but it... Read More

Good News for Underwater Homeowners?

Good News for Underwater Homeowners?

Good News for Underwater Homeowners?

Call them the invisible victims of the housing collapse: The millions of homeowners who’ve spent nearly a decade dutifully making mortgage payments on homes worth less than the balance of their loans. Known as “being under water,” many in this crowd were never in danger of losing their home. But that doesn’t mean they didn’t... Read More

Why Paying Off Debt Could Actually Hurt Your Homebuying Chances

Why Paying Off Debt Could Actually Hurt Your Homebuying Chances

Why Paying Off Debt Could Actually Hurt Your Homebuying Chances

How you plan and budget your finances can have a big effect on whether or not you can qualify for a home loan. For sound financial planning purposes, eliminating the expenses in your life that contain the highest interest rates first is generally a good approach. After all, why pay more interest, right? But when you apply... Read More

The True Cost of Living in America: Columbus, Ohio

The True Cost of Living in America: Columbus, Ohio

The True Cost of Living in America: Columbus, Ohio

When you think Ohio, you probably think Cleveland, and you might think Cincinnati. Almost certainly, you don’t think Columbus, but here’s a secret: Ohio’s capital city is larger than its more famous neighbors to the north and south. In fact, it’s the largest U.S. city to make Credit.com’s top 10 most affordable cities list. By... Read More

Living Near These Stores Can Make Your Home More Valuable

Living Near These Stores Can Make Your Home More Valuable

Living Near These Stores Can Make Your Home More Valuable

If you’re looking for an edge in buying a home that will appreciate in value, Zillow researchers may have found just what you’re looking for. The real estate website recently analyzed the values of millions of homes near dozens of Trader Joe’s and Whole Foods, finding that these grocery stores and higher home values are definitely... Read More

Is Your Car Lease Keeping You From Buying a Home?

Is Your Car Lease Keeping You From Buying a Home?

Is Your Car Lease Keeping You From Buying a Home?

Getting a mortgage can be difficult. Sometimes, to increase the odds of being approved or to qualify for a larger loan, prospective borrowers will pay down debts or eliminate existing loan obligations. Often, the process for doing so is simple, but there’s one type of financing that could trip up your efforts: a car lease. Here’s... Read More

First-Time Homebuyers: The New Elite?

First-Time Homebuyers: The New Elite?

First-Time Homebuyers: The New Elite?

Is buying a first home becoming more a privilege than an American birthright? That’s the provocative question posed recently by Issi Romem, chief economist of BuildZoom.com. And he answers it, cautiously, with data suggesting it’s true. Romem’s most concerning assertion: Young buyers have nearly 10% higher incomes than they did less than a decade ago.... Read More

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