04 Oct 2024
By Tawnya King

How to Get a Mortgage Without a Credit Score

Credit Scoring
Getting a mortgage without a credit score may seem like a tough task, but it is possible. Many assume that a credit score is a must, but if you don’t have one, you can still pursue your dream of homeownership. Here’s how. What is a Credit Score? A credit score is a numerical value that shows how well you manage debt. The score is based on factors like your payment history, how long you’ve had credit, and how much credit you’re using. Higher credit scores typically mean better mortgage terms, including lower interest rates. Loans Without a Credit Score If…
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03 Oct 2024
By Tawnya King

Do VA Entitlements Ever Expire?

Mortgage
The VA home loan program is one of the most valuable benefits offered to those who have served in the U.S. military, providing veterans and active-duty personnel with access to favorable mortgage terms. One common question is whether these VA entitlements ever expire. What is VA Home Loan Entitlement? VA home loan entitlement refers to the amount the Department of Veterans Affairs guarantees to a lender if the borrower defaults on the loan. This guarantee significantly reduces the lender’s risk, which allows veterans to access zero down payments and lower interest rates. The VA doesn’t issue the mortgage itself but…
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02 Oct 2024
By Tawnya King

Steps to Take Now to Build Your Credit for a Home Purchase Next Year

Credit Scoring
If you're thinking about buying a new home next year, there's one important factor to consider before you start browsing listings—your credit score. A strong credit score can make a huge difference in the interest rates you will qualify for and can also determine your mortgage approval. Starting the process of improving your credit now gives you a head start, putting you in a better position to achieve your homeownership goals when the time comes. Here are five steps to help you get started: 1. Check Your Credit Report Before anything else, it's essential to know where you stand. Request…
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01 Oct 2024
By Tawnya King

How Much Equity Can You Borrow Today?

Home Mortgage
Your home equity represents one of your most valuable assets. When it comes to borrowing against that equity, many homeowners question how much can they borrow. Understanding the amount of equity you can tap into today is essential, especially if you're considering a home equity loan or line of credit (HELOC) for major expenses like home improvements, debt consolidation, or other financial needs. What is Home Equity? Home equity is the difference between your home's current market value and the outstanding balance on your mortgage. As you pay down your mortgage and your property’s value increases, your equity grows. The…
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30 Sep 2024
By Tawnya King

What’s Ahead For Mortgage Rates This Week – September 30th, 2024

Financial Reports
With the release of the PCE Index data, we are seeing the trend hold as inflation continues to slow down. This gives the Federal Reserve room to continue its rate cuts in the future. Following the positive news for inflation data, the GDP has also seen a larger-than-expected growth of 3% this quarter. The only data running against the tide is the Consumer Confidence reports, which reported to show that consumers are at their most anxious since 2021. We should expect a greater impact on the lending and broader markets ahead of the elections. PCE Index The Federal Reserve’s preferred…
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27 Sep 2024
By Tawnya King

VA vs FHA vs USDA What’s the Difference?

Mortgage
You may have more options than you think when it comes to securing a mortgage for your new home. While many buyers opt for conventional financing, another option or program might be a better choice for you, depending on your personal and financial situation. Learning more about FHA, USDA, and VA loans ensures you get the best possible deal for your mortgage and that you secure the loan that you need for your new home. Here’s what you need to know about these useful mortgage options. FHA LoansThese are traditional mortgages that are backed by the FHA: when you take…
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26 Sep 2024
By Tawnya King

An Overview Of Umbrella Insurance: How It Works

Mortgage
Accidents can happen from time to time, which is why it is important for people to have insurance. While you might be able to fix some accidents on your own, others can lead to a significant amount of financial stress. This is why people must have insurance. Insurance is supposed to help individuals and families pay for catastrophic expenses; however, what happens if the insurance policy is not big enough to cover the expenses? That is where umbrella insurance can be helpful. What is umbrella insurance, and how does it work? Learn more about how umbrella insurance might be able…
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