If you are in the market for a new home, you probably already know that getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps. Yes, we know that there are plenty of rules to follow -- but here is a simple list of "Do's" and "Don'ts" to follow when shopping for a mortgage for the first time. … [Read more...]
Insurance Premium and Credit Scores, Yes They are Connected
If you are not aware by now, virtually everything is now tied to your credit score. By having computers slice and dice massive amounts of data, companies can discover patterns that help them save money. Most often, these systems use multivariate analysis – a way of looking at how inputs affect an output. Insurance companies have been on this bandwagon for a while. They look at credit related … [Read more...]
Jumbo Loans: Do They Still Exist?
When the credit crisis hit jumbo loans was one of the first markets in mortgage financing to get hit hard. Banks pulled their jumbo loan programs off the market in a hurry and it had a big impact on the demand for homes over $500,000. There is not much of a secondary market for jumbo loans or no one to buy up the securities they are pooled into. That means the initial investor that … [Read more...]