Mortgage Brokers vs. Banks

In seeking a mortgage, an individual needs to decide whether to apply to a bank or to use a mortgage broker. There are advantages and disadvantages with each strategy, as well as many choices of lenders and mortgage options available. Each person brings to the table their own knowledge, experience, financial needs and personal circumstances. Doing some upfront research can help you best prepare for the process, whichever road you take.

Understanding PMI

No one enjoys paying extra monthly expenses, but for many people, private mortgage insurance, or PMI, is a necessity that allows them to successfully apply for a home mortgage. In this guide to understanding mortgage insurance, we’ll learn when lenders require PMI and what makes this mortgage insurance beneficial to the housing industry and the home buyer.

Comparing Fixed and Adjustable Rate Mortgages

If you’re in the market for a new home, it pays – literally – to understand the difference between fixed rate and adjustable rate mortgages. In this guide to mortgage basics, we’ll explain the two basic types and explore the factors that determine which type will save you the most money.

Estimating How Much Home You Can Afford

It’s the question you need to ask yourself before you even BEGIN your new home search. It’s the most important factor in determining what kind of home you can secure and where you can begin to look. It’s a crucial consideration for first-timers and veteran home buyers alike: How much can you afford to spend on your next – or first – home?

Scoring your Credit – How’s your FICO?

Before buying a home in the Pensacola, Florida area, it is crucial to make sure that your credit is in good condition. The first step in doing so is to learn how your credit score is determined.

In today’s increasingly automated society, it should come
as no surprise that when you apply for a mortgage, your ability to pay can be
reduced to a single number. All the years you’ve been paying your mortgage, car
payments, and credit card bills can be analyzed, sliced, diced, spindled and
mutilated into a single indicator of whether you’re likely to meet your future
obligations.

Improving your Credit Score

One of the most crucial steps to take before buying a home is establishing or improving your credit score. A credit score is a statistical method to determine the likelihood of an individual paying back the money he or she has borrowed.

More Americans upbeat about homebuying

WASHINGTON-April 9, 2012-According to Freddie Mae’s March 2012 consumer attitudinal National Housing Survey, more Americans may decide the time is right to but a home.

Pensacola, FL Down Payments 101

Deciding whether or not to make a down payment on your new Pensacola, FL home can be a tough judgment to make. After you decide if you will make a down payment, you have to figure out how much money you can/ or will put down. Don’t stress out trying to comprehend what to do; we can help you figure it out.

New Credit Cards Could Hurt Credit Score

Before heading out to shop, you don’t slip a can of pepper spray into your purse, and you’d rather spend Thanksgiving with your family than in a tent outside a big box store. Still, when you head out to the mall or cruise the Internet, you want a deal. Four years of hard times have left us hard-wired for discounts, even during the holidays.

Don’t Let Your Past Credit Trouble Keep You From Your Dream Pensacola, FL Home

Buying a Pensacola home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating. The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future.