Mortgages

Why is My Credit Score Lower From My Lender?

If you have recently been on a personal finance site to check your credit score and then applied for a mortgage you may have been surprised at the difference in your credit score. That’s because more often than not, the score you received from the personal finance site is going to be higher than the credit score your lender receives when they pull your credit.
Credit algorithms
Personal finance sites that can access your credit history use a different algorithm to calculate your score. They are giving you more of a generic credit score that covers a wide range of credit […]

Your Financial Roadmap to a New Home

So, it’s time to buy a home. Many of you likely are ready to do so for very different reasons. For one, you might be starting a family and need more space. Two, you might be only months from retirement and long have been ogling a move to the beach. Three, you might want to live closer to aging family members. Four, you might be facing a big career transfer.

Or, maybe it’s simply time to become a homeowner. You’re done with renting. Weary of stuffing a landlord’s wallet each month rather than building equity in your own place (What’s […]

Renter or Buyer? Questions to Ask

You’re considering your next move, whether for personal, family or career reasons. You’re not sure if it’s smarter to rent or buy a home, but you know it’s smart to sort through the pros and cons of each option. It also requires being honest with yourself about future plans, your financial health and comfort zones. Here are five questions to ask about renting versus buying a new home.
Can You Qualify For a Mortgage?
Let’s assume you’ll need a mortgage to buy a home (that’s most of us). Qualifying for a mortgage means filling out loan application forms and providing proof […]

How Fed Rate Increases Affect Home Buyers

What happens when interest rates go up? That’s a tricky question. On Dec. 14, 1016, the Federal Reserve Board announced a 0.25 percentage-point increase in the federal funds interest rate, to 0.75 percent. This was viewed as a good thing because it indicates the Board’s confidence in a resurgent and growing U.S economy.

The Federal Reserve is where big U.S. banks have reserve funds. So, when the Federal Reserve Board announces a decision about interest rates, it’s big news. Naturally, any fluctuation in that prime rate affects all kinds of interest rates, including those on credit cards, savings accounts, investment […]

Your Guide to Understanding Credit Scores

Not the most scintillating topic, we know. But, a critical one for new-home buyers because it often can dictate whether you can pursue your Florida dream home. A good credit score allows you more leeway and choices when it comes to applying, and being approved for, mortgages. A poor credit score limits your mortgage choices or negates them all together. Read on for our hopefully helpful guide to Credit Scores 101.
What’s a Credit Score?
A credit score is a snapshot of your financial health. It’s sort of like an all-purpose code that someone can interpret at a glance. Specifically, it’s […]

Best Cities for Investment Property

If you’re searching for investment property, cross the state line into Florida and stop. A recent study by GOBankingRates.com, named three cities — Orlando, Tampa and Jacksonville —among the nation’s top 15 great places to invest in real estate.

Using rental properties to expand your portfolio is a smart move thanks to ongoing recovery from the mid-2000s recession. Home prices are rising. So is inventory as builders rebound from the downturn. Prospective tenants also are more confident taking financial risks such as moving for jobs, retirement or pursuing new careers.  The survey reviewed 61 of the 100 most populous U.S. cities. […]

Why You Need Title Insurance on New Construction

As new home construction picks up, we often get asked why buyers need title insurance on a NEW home.

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7 Most Common Mortgage Mistakes

New home buyers are known for rushing through the financing just to get the deal done as quickly as possible, which can lead to a number of costly mistakes. […]