Blog

12
Aug
By Jim Hasek
Mortgage Tips,

Three Proven Ways You Boost 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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11
Aug
By Jim Hasek
Home Seller Tips, ,

Pocket the Profits: The Secrets to Selling Your Home above the Asking Price

We all want to sell our homes at above asking price, but what is it that makes a seller succeed at this? Here's our expert advice on how you can sell your home above the asking price. Ask For Less You may be surprised, but pricing your home lower than market value can have an extremely positive effect on the offers you receive. This is because a low-priced listing will stand out and will draw more attention, which boosts your chance of a bidding war. By attracting more buyers to come and look at your home, you will find more…
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10
Aug
By Jim Hasek
Home Mortgage Tips, ,

Can You Get a Mortgage after a Chapter 7 Bankruptcy Discharge? Yes – But You’ll Have to Wait

There was a time when it was possible to acquire a mortgage shortly after filing for Chapter 7 bankruptcy, but with the shifts in the financial sector, the timeline on such a mortgage approval has changed in recent years. If you're currently undergoing a Chapter 7 bankruptcy and are wondering how this will impact home ownership, here are the basics on this type of bankruptcy and what it may mean for you. What Is Chapter 7? While a Chapter 13 bankruptcy is the kind of financial situation that requires debt repayment, Chapter 7 is different in that it involves the…
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09
Aug
By Jim Hasek
Home Mortgage Tips, ,

Leveraging LPMI: The Pros and Cons of Lender-Paid Mortgage Insurance

From interest rates to mortgage loans, there are many things associated with applying and obtaining a mortgage that are important for new homeowners to be aware of. If you've heard the term Lender-Paid Mortgage Insurance (LPMI), this is when the mortgage lender pays off mortgage insurance on behalf of the homeowner. While this kind of insurance can be beneficial for some homeowners, here are some of the basics on LPMI so you can determine whether or not it will work for you. It Can Be Tax Deductible While a homebuyer generally has to be in a position of good credit…
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08
Aug
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – August 8, 2016

Last week's economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac's mortgage rates survey and new jobless claims were also released. Construction Spending Dips in June According to the Commerce Department, construction spending fell in June to -0.60 percent as compared to expectations of an increase of 0.50 percent and May's reading of -0.10 percent. Spending was even across public and private construction spending. The Commerce Department said that construction spending on June rose to $1.13 trillion was 0.30 percent year-over-year and was 6.20 percent higher for the first six months of 2016 as compared…
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05
Aug
By Jim Hasek
Home Buyer Tips, ,

Thinking about a ‘Fixer Upper’? Understanding the Balance Between Purchase and Reno Costs

Fixer uppers can come with huge price benefits and opportunity, as well as problems. Make sure you understand what you're getting yourself into before you purchase a home that needs significant restoration. Carefully Calculate Do the math very carefully before jumping in. Add up the expected renovation costs based on a thorough evaluation of the property. As some of the expected costs will lie within a grey area, it is important that you base your estimation on the higher end of the price range. Be sure to account for all materials and labor. Once you have calculated your expected renovation…
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