Shopping for Mortgage Rates and Your Credit Report – #3 and #4 Home Buyer Mistakes

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Shopping for Mortgage Rates I have written so many articles on why this is wrong.  Shopping for mortgage rates is exactly not the place to look.  This is marketing at it’s best because ad agencies have you convinced this is what to do.  While they have you focused on mortgage rates you miss the most important reasons to choose a bank and banker. Did you know that there are dozens…

You’ll Need Better Credit for a FHA Mortgage

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FHA mortgage loans are extremely important to the real estate industry.  The FHA insures, on average, 30% of all mortgages in the US.  Something like 70% of all first time home buyers use FHA loans.  As a result any change, no matter how slight, in FHA policy is big news. The FHA announced new credit requirements for mortgages on October 4th.  The bar has been raised for home buyers.  Buyers must have at…

Help Your Mortgage with a Credit Score Tip

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Buying a home for most of us means getting a mortgage.  Mortgage rates become a prime issue for home buyers as does their credit report.  The interest rate on that mortgage is determined in large part by your credit score. Whether or not you qualify for a mortgage is often determined by your credit score alone.  It is true that income, debt and assets are important but your credit score is the first determining factor. …