Find out who you shouldn’t mislead about your mortgage, and who often does with Taxes and Shock letters. To find our more, listen to the following banter between Chris Salcedo and Cathy Baker February 19, 2019….
A solid pre-approval letter that you can count on before you go shopping for a home, is an essential tool for you to have. To make sure your approval letter is accurate and takes into account all the necessary items, and not just some of them, click below and watch the video….
Great Tips for Better Credit 6 Quick ways to Raise your Credit Score These are all great ways to increase your credit scores which will benefit you in all kinds of ways, from determining what rates you’ll be charged when borrowing money to what you’ll pay for your...
Mortgage Tip of the Day: If you're purchasing a home - want to avoid moving twice? Most people can qualify to purchase the new home before selling their current one, but they want the money out of the current home to put the down payment on the new one. Here's a great...
Tip: What’s better than a paid for house?
TIP OF THE DAY: A home with a comfortable payment and plenty of savings, in case of an emergency. It’s great to have a home that’s paid for, but only if you’ll still have substantial savings in the bank after paying off the house. Too many people think paying off the house is the best thing they can do, but at the end of the day, you can’t eat the house. We talk to far too many people who have a paid for house but no real savings to fall b…ack on. The most recent disaster that occurred with hurricane Harvey has hurt many people in our area, and we have received many calls from people with damaged homes that don’t have a mortgage on them. Unfortunately, in most cases, these people are lacking the resources to repair their home, that they would have had, had they not used their savings to pay off the house. Bottom line, if you want to pay your home off early, do it in stages, like an extra $500 or $1000 at a time, and as you still have money coming in, so that you don’t totally deplete your savings by paying off your home. None of us know what’s coming around the corner.
TIP OF THE DAY:
Interest rates change every day, just like the stock. The rate you can determined by WHEN you are closing, and what’s happening in the market in the 30-45 day prior to that. If you were closing on something in the next 30 days, you’d be looking at 4.125%, at PAR. That means NOT paying anything to buy down the rate. The cost of loans is in two forms, one buying the interest rate, the other being the COST to get that interest rate. As we know, nothing is free. So when I’m saying 4.125% PAR, the answer to “can I get it lower” is always going to be less BUT you’re going to pay something to get the lower rate. Rates and cost balance like a seesaw, and it can always get tipped in on direction or the other, depending on what you’re wanting to see. That’s why the interest rate, although obviously it’s important, is NOT all that will tell you whether or not you’re looking at a good deal. Make Sense?