It’s Oct 3rd – The TRID Mortgage Begins

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It’s Oct 3rd – The TRID mortgage begins and how you buy a home with a mortgage is forever changed. How mortgages are processed changes today.  And the change is tremendous.  New forms, procedures and time constraints – closing on a home is now a different world for both buyer and seller. Born out of the sub prime mortgage meltdown that was the catalyst for the recession, the Consumer Financial Protection…

Mortgage Rates Don’t Count – A Long But Important Article

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  I’m quite serious – mortgage rates don’t count at all when you’re shopping for a house.  In fact, when you are buying a home and you go to those wonderful websites that promise you everything in 30 seconds or less, you can easily damage your credit.  Let me explain why mortgage rates don’t count and it’s dangerous to shop around. Today we do everything through the web and most…

You Need Lines of Credit to Get a Mortgage

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Qualifying for a mortgage loan requires a good credit history.  Banks want a proven record of responsible financial behavior and lines of credit answer this requirement.  It’s not enough to use a mortgage loan calculator to figure your mortgage payment amount, you need to demonstrate that you can handle credit successfully. What is a line of credit?  A line of credit (aka credit line) is when a bank grants an unsecured loan amount. …