Suffering from Credit Problems? Three Ways You Can Patch Up Your Credit to Get a Mortgage Approved

Credit problems are unfortunately common, and they can make it difficult for you to obtain a mortgage. Even if you are able to obtain a mortgage with your credit issues, the rate may be rather high in comparison to what you may qualify for if you obtain a mortgage without fixing your credit problems. While some issues may take a while to fix, you may be able to see a decent increase in your credit rating when you follow a few easy steps. Pay Off Outstanding Derogatory Credit Items When you review a copy of your credit report, you may…
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An Insider’s Look at Mortgage Closing Costs and How to Minimize the Amount You’ll Pay

When buying a new home, you may be focused on finding a mortgage program that has a down payment requirement that is manageable for you. However, some home buyers will overlook the costs that they are responsible for at closing. These costs can vary, but it is common for home buyers to pay between two to three percent of the loan amount in closing costs, if not more. This can be a hefty sum of money that you will need to budget for. The good news is that there are some steps that you can take to keep these costs…
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The Pros and Cons of Using Spare Funds to Pay Your Mortgage Down Faster

A home mortgage payment can be a large or even the largest expense in a person's budget, and not having this payment any longer can be a life changing experience. Because of this, you may be dreaming about the day when you no longer have to make this payment. Some people may even actively make extra payments to their mortgage in order to pay the outstanding balance off more quickly. These may be funds from an IRS tax refund, cash received from the holidays or a birthday or some other windfall. Before you make the decision about whether to use…
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First-time Mortgage Borrowers: Avoid These “Rookie Mistakes”

Many home buyers who are applying for their first mortgage will go to great lengths to research the options, learn more about loan terms and generally educate themselves about a process that they are unfamiliar with. Despite these common steps that rookie mortgage applicants make, they often make similar mistakes when applying for their first mortgage. By learning about these common mistakes, you can take steps to prevent making them yourself. Not Focusing on All Costs of Home Ownership Many first-time home buyers are overwhelmingly focused on setting up a mortgage payment that is affordable for their budget. While this…
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