Blog Entries Tagged: mortgage 101
Found 2 blog entries tagged as mortgage 101.

With homes becoming so expensive and more inaccessible for young people hoping to own property, many individuals are turning to their trusted love ones for help in the form of a mortgage loan co-signer. 

So, what is a co-signer? Fidelity Investments writes, "a co-signer is someone who can help a candidate qualify for a loan or mortgage when they aren't eligible on their own. Having a co-signer reduces the lender's risk as there is now more than one person responsible for ensuring repayment of the loan. With a co-signer, the loan has a backup, someone who will pay if the primary borrower doesn't. Lenders like co-signers and are more likely to lend with them. Parents may choose to act as co-signer for their children to help them qualify for a…

580 Views, 0 Comments

Read Full Post

When preparing to buy a home, most people can not make the purchase outright in cash. It is totally normally and acceptable to use a mortgage. As you go through the process of getting pre-approved for a mortgage so that you know what your home budget is, the bank is going to do something very important: a credit check. If you're thinking about buying a home but know your credit score won't be good enough, here are some ways you can improve it:

  • Monitor your monthly payments closely! Make sure you are always paying your bills on time, that you are meeting your minimum payments and that you don't skip paying a bill even if it's in dispute. There are helpful apps out there, such as Mint, that can help you keep track of payment deadlines, goals,…

1004 Views, 0 Comments

Read Full Post