Blog

08
May
By Jim Hasek
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The Magic Number: Does Your Credit Score Need To Be Above 800 To Apply For A Mortgage?

Over the course of a lifetime, financial development can lead to some wonderful opportunities. A person's financial development and state of affairs is something that is particularly important when it comes to taking out a bank loan to further progress in life, and the largest loan most people will require is a mortgage for a home purchase. Since the process of getting approved for a mortgage is heavily dependent on credit history and that three-digit credit score that reflects reliability as a borrower, you should always put forth practices to keep that number healthy and growing. However, how much importance…
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07
May
By Jim Hasek
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Is It Best To Put Down A Large Down Payment, Or Be Agile With Your Savings?

Putting down the largest sum of money at your disposal might seem like the best way to go when it comes to your mortgage down payment. There is a certain amount of truth to this, but the reality is bigger is not always better. Ideally, the amount of money you settle on for your mortgage down payment will take into account your monthly budgeting requirements. The Big Advantages Of A Large Down Payment Fewer Mortgage Payments: The larger the down payment, the higher the likelihood that you will be able to afford a shorter mortgage. Unlike some of the other…
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06
May
By Jim Hasek
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How Will A Short Sale Affect Your Ability To Buy Another House In The Future?

The last few years have been financially difficult for millions of homeowners, with job losses and decline in home values devastating families all over the US. As a result, a great number of homes have gone through short sales, which has had a detrimental effect on consumers' credit ratings. If you've considered or experienced a short sale, one of the biggest concerns you may have is how it will impact your ability to purchase another property in the future. Here are five key variables on how a short sale can impact your next home purchase. Duration Of Delinquency Plays A…
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05
May
By Jim Hasek
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What’s Ahead For Mortgage Rates This Week – May 5, 2014

Last week's economic news included several reports related to housing and mortgages. The NAR started the week on a positive note with its Pending Home Sales Index released Monday. Pending home sales in March were higher with an unexpected increase of 3.40 percent over February for an index reading of 97.40. This is encouraging news for home sales that were severely affected by a hard winter in many areas, and suggests that as warmer weather approaches, home sales will pick up. Analysts do not expect the rapid rate of price appreciation seen in 2013. The Fed's tapering of its "quantitative…
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02
May
By Jim Hasek
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What’s in a Color? Six Paint Colors That Will Affect Your Mood

Believe it or not, paint colors can affect your mood. When remodeling your home, the color you use on the walls can end up being just as critical to the thematic consistency of your home as the furniture you use to decorate it. Before you slap any old color on the walls, take some time to consider what mood you'd like each room to inspire. Red, Yellow And Orange: The Colors Of Excitement, Hunger And Happiness Ever wonder why the dining rooms, kitchens and entertainment rooms you see in magazines always seem come in every shade of red? It's because…
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01
May
By Jim Hasek
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FOMC Noted Retail Sales In March Reached Highest Level Since September Of 2012

The FOMC of the Federal Reserve released its customary statement after its meeting concluded April 30. FOMC members said that the economy is improving after a winter lull caused by poor weather. The national unemployment rate remains high, although some improvement in labor markets was reported. Fiscal policy is restraining economic growth, although FOMC said that the restraint is diminishing. FOMC Monitors Inflation, Further Reduces Asset Purchases The FOMC statement reflected members' concerns about the inflation rate remaining below its goal of two percent, and said that this could eventually impact economic recovery. The Fed expects inflation to approach its…
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