The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn’t always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents, and...
1. Loan Search – Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future.
2. Loan Application – It’s crucial that consumers supply the lender with...
Typically, a person with a low credit score is in this position because they lack structure in his or her life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time or curb...
Throughout my day and in this current market I provide and disclose GFEs; I move on assuming all borrowers understand the alphabet of acronyms. A potential client made me aware today that although I have been serving up GFEs for a better half of this decade that the majority of borrowers have no clue what...
There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score:
• Payment History: 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments and charge-offs have a negative impact....
