If you're buying a home in Middle Tennessee, there's a good chance you'll need a mortgage loan to do it. Most people do. But what if your credit isn't perfect? What can you do to boost your score so you qualify for better interest rates and terms? This guide explains. 3 Tips to Help You Boost Your Credit Score for a Mortgage Check out these three tips to help you boost your credit score to qualify for a mortgage: Look for errors on your report (and have them fixed) Deal with delinquency and make payments early Build a fresh credit history Scroll down for a closer look at each. Tip #1 to Boost Your Credit Score for a Mortgage: Look for Errors on Your Report (and Have Them Fixed) Check your credit report and make sure it doesn't contain any errors. Thanks to the Federal Trade Commission, you're entitled to one free copy of your credit report each year from each of the major credit bureaus. You can get yours at http://www.annualcreditreport.com/ or by calling 877-322-8228. Alternatively, you can download free app, such as CreditKarma, to see what items your report contains. If you find any errors, dispute [...]
Few people are immune from the dream of home ownership, but many don’t have the means to take the leap. Fortunately, programs from the Tennessee Housing Development Agency promote affordable housing; they also facilitate the use of federal and state housing programs for first-time homebuyers and military veterans. As Realtors®, it’s our job to help everyone we can to realize their dreams of home ownership – and agents like Wesley Willoughby use the THDA to live up to the standards that make up Benchmark Realty’s foundation. Willoughby received the THDA Top Sales Agent award because of his proactive stance on helping first-time homebuyers and veterans. So how did he do it? Promoting Affordable Housing Programs Willoughby and his preferred lending partner, Michael Hampton of Peoples Home Equity, host monthly seminars to help first-time homebuyers and veterans take advantage of THDA programs. By advertising these free classes through radio, television and print, the pair hosts between 15 and 25 people each month; as a result, they’ve helped people who were having a tough time breaking through the barriers to home ownership. “This class gives us the opportunity to meet face-to-face with homebuyers to answer the questions they may not be able [...]
As another signal of an improving U.S. economy, the nation's biggest banks have started to loosen mortgage lending standards.
Beginning Monday, June 11, the FHA is changing its mortgage insurance premium schedule for the second time this year.
A reverse mortgage is exactly what it sounds like -- a mortgage in reverse. Here's some analysis on the program and how it could work for you.
Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom.
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.
The new, revamped HARP program is now available. It was officially released Saturday, March 17, 2012 by Fannie Mae and Freddie Mac.
Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group's new, costly mortgage insurance premium schedule.