29 Sep 2015
By Mark Feder

FICO Scores 101: How to Shop for a New Mortgage Without Harming Your Credit Score

Home Mortgage Tips
It's difficult to begin shopping around for a new mortgage without the facts on how this can affect your FICO score. Anybody who is holding off for fear that their credit score will be ruined by multiple credit checks has nothing to worry about. Mortgage brokers require this information to give an accurate quote, so many credit checks by different companies will have a miniscule effect on credit scores. The system has been designed this way because a mortgage is not considered to be 'bad debt' by lenders and consumers should have the right to shop around without fear of…
Read More
24 Sep 2015
By Mark Feder

Looking Ahead: How to Ensure That You Are Taking Full Advantage of Mortgage Tax Credits

Home Mortgage Tips
One of the major benefits to purchasing a home with a mortgage are the tax credits that can be taken advantage of when April 15 comes around. Many homeowners are unaware of what mortgage related expenses can be deducted and, more importantly, which ones can no longer be deducted. Receive A Tax Deduction For Interest Paid On The Mortgage The most common tax credit associated with mortgages is the interest paid credit. This allows borrowers to deduct the cost of the interest paid on their mortgage on their taxes, which in many cases is the largest tax break available to…
Read More
22 Sep 2015
By Mark Feder

Critical Documents That You’ll Need to Have Ready Before Applying for a Mortgage

Home Mortgage Tips
If not done properly, applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are some crucial pieces of information that almost any lender will require before approving a mortgage. Tax Information From The Previous Two Years One of the most important documents a borrower will be asked for is their federal tax return along with a signed Form 4506-T, which will allow the lender to contact the IRS directly for their version of the federal tax return to compare to the ones provided. This allows them to…
Read More
17 Sep 2015
By Mark Feder

First-Time Home Buyer? 3 Budgeting Tips to Help Make Your Mortgage Payments Easier

Home Mortgage Tips
Buying a new home is an exciting time, but excitement can easily turn to stress if there isn't enough money to pay the monthly mortgage bill. The added expense can take some time to get used to, but there are ways to make the payments easier, especially in those first few months when money is the tightest. Prioritize The Mortgage Bill And Pay It Immediately This may seem like a counterintuitive tip for anybody looking for help making mortgage payments, but it is easily the best one and the one that provides the most trouble for homeowners. Late mortgage payments…
Read More