A good credit score is part of getting approved for a mortgage, it will also help you get a lower interest rate.
Here are some quick things to do to check and possibly improve your score.
Before we get started though, the first thing you should do is get your credit report!
You can order it free here – https://www.annualcreditreport.com Now that you have your report lets get to those tips! 🤓
1. Check for Errors! You want the report to be clean and mistake free. Check if there are misspellings of your name or addresses. Other things might be duplicate accounts, incorrect account information, closed accounts that are still listed as open, fraud etc!
2. Clean up the Errors! If you found something wrong the next step is to get the errors fixed. You can contact the major three bureaus directly to fix any errors! Be prepared with paperwork to back up your case! Here are links to the three bureaus on how to address errors: https://www.experian.com/blogs/ask-experian/credit-education/faqs/how-to-dispute-credit-report-information/ https://www.equifax.com/personal/credit-report-services/credit-dispute/ https://www.transunion.com/credit-disputes/dispute-your-credit
3. Pay Late Or Past Due Accounts This is important! Pay these off whenever possible. Here is a pro-tip: if you have an account with a late fee or in collection – contact them before paying and ask them to remove the record entirely if you pay the account off. This will really help your score!
4. Pay On Time Ok this is obvious but its important too – even if its the minimum payment make sure you get the payments in on time.
5. Open New Accounts Or Increase Your Limits This will help your credit to improve your credit utilization rate – how much of your available credit you use. The lower the rate used the better so don’t open a new card and max it out – just open it and use it a little and pay it off monthly if possible.
These are five quick tips that can really help boost your credit before you apply for a mortgage. If you are ready to apply contact us today and we will be glad to review the options with and see what best fits your needs!

Many Americans have considered moving in the last few years. Some are lucky enough to work remotely, others may be lured by housing prices. If you are considering moving here are seven things to consider.

1. Housing and Cost of Living: Research the cost of housing, groceries, utilities, and other expenses in the area to ensure that you can afford to live there.
2. Job market: If you are moving for a job, make sure it is secure and that there are other job opportunities available in the area.
3. Education: If you have children, consider the quality of the schools in the area. You may also want to consider the availability of higher education institutions if you or a family member plans to continue your education.
4. Safety: Research the crime rate in the area and consider the overall safety of the neighborhood.
5. Climate: Think about whether the climate of the new area is one that you can tolerate.
6. Amenities: Consider what types of amenities are important to you and whether the new area offers them. This might include things like libraries, parks, recreation centers, shopping, and dining.
7 Quality of life: Think about what is important to you in terms of your overall quality of life, and whether the new area offers those things.

As a military family you may be accustomed to moving often and not having a permanent address. Just as soon as you feel settled in, you may receive orders to move, so here are some tips to help with buying and selling for military families.
Active service personnel receive Basic Allowance for Housing (BAH) which varies on location, pay grade and number of dependencies, which they can use for renting or buying. Buying a home may offer lower monthly payments and the chance of appreciation, but if you think there is a good chance you will be transferred in the next couple of years, you may want to rent as you would be looking at having to recoup buying and selling costs.
If you do think you are in a stable situation you can be eligible for a VA loan which has benefits like no down payment or PMI payments, as such it maybe a good alternative if you are struggling with making the down payment.
Be sure to check with us on to see what best fits your needs in your unique situation and of course we are thankful to all of the military families for their service and sacrifice.

We’re often surprised that many homeowners don’t know about second mortgages.
First a second mortgage is like the name says, a loan in addition to your primary mortgage, that allows you to borrow money using your home as collateral and the first mortgage is not yet paid off. The second mortgage also like the name says, is second to the original mortgage. In case of default, the first mortgage is paid off first. As such the interest rates are generally higher than first mortgages but amounts borrowed are usually much lower, as well (of course you will need to have equity in your home to qualify for a second mortgage).
One benefit of a second mortgage is getting money needed for expenses, such as tuition or renovations at an interest rate that while higher than first mortgages is much lower than credit card interest rates.
Most second mortgages are in the type of a home equity loan or a home equity line of credit (HELOC). The home equity loan is a lump sum payment of money that is then paid off monthly like your first mortgage.
HELOCs are more like a credit card where you will be approved for a line of credit based on the equity in your home and then you can borrower against that.
If you are interested in learning more file out our loan analyzer on our website or call and we can analyze your situation to see what best fits your needs!

Nationally, we have been in a seller’s market for quite some time, but there are signs that maybe changing. The seller’s market was fueled by tight inventory and high demand, and was punctuated with bidding wars and cash offers.
A move towards a buyer’s market would mean that houses stay on the market longer and prices stabilize or even drop. Signs of a buyers market include, higher inventory, prices getting lowered, the aforementioned increase in days on market, as well as things like incentives offered by the seller such as help with closing costs or renovations.
The old adage about everything in real estate being local means that some areas maybe in a buyer’s market while others not so much. And while it might not be a buyer’s market, it does seem that we are moving towards a more balanced market.
If you are thinking of buying check with us and we help advise on your area and the current market conditions.

As home prices have risen dramatically the last few years (yes, they are starting to inch down now), many people find their dream house seemingly out of reach. Don’t despair, here are some tips to save a thousands on your home purchase and lower costs.
Move Out Of Your Comfort Zone
Ok maybe not your comfort zone, but expanding your search area can make a big difference. If you are priced out of your preferred neighborhood, try expanding your search to nearby areas where housing prices can be significantly lower.
Credit Check?
Check your credit score and see if there are any issues that need to be addressed. Since your credit score has a big impact on getting lower interest rates, if there are fixable issues it can make a difference!
Down Payment Support
If you need help with your down payment, there are a number of different programs as well as local ones that maybe able to provide support for the down payment.
For help on your specific situation, fill out our home purchase qualifier on our website to help find your best fit in todays environment.

As we continue to see low inventory in the housing market and high rent prices, many home owners are adding ADUs (which stands for Accessory Dwelling Units).
ADUs often called granny flats, are guest houses or rooms added to garages to create rental income for home owners. Home owners typically add ADUs to increase cash flow, as well as looking for their property value to appreciate. Whether ADUs are right for you, depends on a number of factors. ADUs often costs at least $100,000 to build so being in a high rent market helps to offset the initial investment. You’ll also need to make sure local ordinances allow them and what the regulations are.
The old real estate adage about location stays true for ADUs as well. If you are in an area where rents are high or a popular vacation destination, then ADUs can make sense. Again you’ll need to check the local zoning and if you build one you will also need to have updated insurance to cover the ADU. Check with us to learn more and to see what financing terms you qualify for.

You may not be familiar with a joint mortgage – this is where there are two or more parties on a mortgage. Commonly friends, family or a partner will combine their incomes and assets to buy a house. This is often done when one party cannot qualify or can’t afford a property on their own. Unlike a typical mortgage all parties are on the mortgage and all assume responsibility for paying it.
The main benefit of a joint mortgage is being able to afford or qualify for more of home than one party is able to on their own.
As you may have guessed this creates a more complicated situation where you can have co-ownership, and may be dependent on multiple parties making payments. Further you could have one party wanting to sell or refinance in the future. It can also affect one parties ability to get a loan in the future as they are tied to the joint mortgage.
So its best to be aware of all the requirements and scenarios before applying. And make sure you have a strong relationship between both parties including having similar interests and goals regarding the property.

If you were recently denied for a mortgage application, it doesn’t mean you can’t get approved somewhere else. There are some application issues that are fixable. The first thing you’ll want to know is why you were denied. We can take a look and shop for other loans options.
Credit issues are a common reason for getting denied. The first thing to do is to examine your credit report to see if there are any errors that can be fixed. There are also other loan programs if your score doesn’t fit conventional loans.
Debt to income ration or DTI that is too high is another common reason to be denied. The first thing if possible, would be to pay down debt. Another common source of debt is student loans – you may want to look into applying for the new student loan forgiveness program.
Simply being denied once does not mean the end of the road, we can consider multiple loan options. A co-signer is another option to consider, although this will make the application process less streamlined. Complete our quick qualifier and we can schedule a consultation to see what you can qualify for and for how much.