Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your […]
What Credit Score Do You Need To Buy A House?
March 21, 2019 by ·
There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown […]
Still Think You Need 15-20% Down to Buy a Home? Think Again
February 5, 2019 by ·
According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well. Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership […]
What does disputing a tradeline do to your Credit Score?
December 5, 2018 by ·
Your credit score will open doors for you when you are in the need to borrow money and your score will determine the cost of that money. So protecting it is extremely important. Our topic of discussion today is to review Disputing Credit and how it affects your score and your ability to move forward […]
Buying a Home? Do You Know the Lingo? [INFOGRAPHIC]
November 12, 2018 by ·
Karen Jones is a Licensed Mortgage Loan Officer (NMLS 307015) located in Phoenix and serving Arizona families with their home lending needs. As a Banker of over 32 years, Karen is dedicated in ensuring that her clients are well educated and prepared for their new home purchase. Learn more about our 100% Financing programs and obtain your Underwriting Credit Approval […]
What’s Going On With Home Prices?
October 22, 2018 by ·
According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year. CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change, “The rise in mortgage rates this summer to their highest […]
The Cost of NOT Paying PMI
October 15, 2018 by ·
Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even […]
Ensure Your Offer is Taken Seriously with PYT
August 5, 2018 by ·
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to prepare for your home loan and […]
Credit Scoring Models- FICO (Fair Isaac) to Vantage
July 25, 2018 by ·
Credit scoring started in the late 1950’s to support lending decisions in large department stores. The concept was revolutionary and by the end of the 1970’s most of the nation’s largest commercial banks, finance companies, and credit card issuers used credit scoring. It became widely accepted once Fannie Mae and Freddie Mac fully endorsed the […]
What is the Mortgage Process?
April 25, 2018 by ·
Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Karen Jones […]
