Contact Team Annett: (p) 513-527-3060 (e) teamannett@gmail.com
More than ever, you should make sure you know what is on your credit report – and the steps that should be taken if improvement is needed. One thing that many people do not know is that The Home Equity Line of Credit (HELOC) can impact your credit score quite significantly and sometimes unfairly.
There are several reason’s why a closing may not occur on time, or even at all. Here are some of the main obstacles that may delay your deal:
Did you know that most lenders pull your credit report a couple of times during the loan process? Keep in mind that they typically pull a new credit report prior to closing the loan, and if your credit scores have dropped, you may no longer qualify for the rate or program that you are attempting to get. Credit scores are very important as all lenders qualify you by your credit score as to which criteria you fit and every loan has different criteria attached. The loan to value, the debt to ratio and so on, etc.
Two years in the making — the federal government will be reducing their involvement in the mortgage market. Both Fannie Mae and Freddie Mac will wind down within as little as five years.
Historically low mortgage rates over the past couple of months have not done much to encouraged new home sales, but rising rates could finally push those who have been “thinking about” buying into the market.
I learned about a new product recently that makes so much sense yet it is only offered by one bank in Cincinnati. It is called Pre-Purchase Rate Protection, by Coldwell Banker Home Loans. What is does:
Are you or a friend thinking about moving up to a larger/more expensive piece of real estate? There has never been a better time than today.
The Senate Approved an Amendment to limit lending fees to 3% – Will it shut down Mortgage Brokers?
The $8,000 tax credit may be over, but there are still programs out there that can help first time homebuyers realize their dream of home ownership.
