Don’t Disqualify Yourself 52% Of Approved Loans Have A FICO Score Under 750

Don’t Disqualify Yourself 52% Of Approved Loans Have A FICO Score Under 750

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.

Homes for Sale in Kissimmee FL

One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage.

A recent article about millennials by Realtor.com explained that:

“About 72% of aspiring millennial buyers said they’re waiting because they can’t afford to buy…”

The article also explained that 29% of millennials…

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Empty Nesters: Best To Remodel Or Time To Sell?

Empty Nesters: Best To Remodel Or Time To Sell?

Your children have finally moved out and you and your spouse now live alone in a large four-bedroom house in Davenport FL. You have two choices to make:

1. Remodel your house to fit your current lifestyle and needs
2. Sell your house and purchase the perfect home (may we suggest Champions Gate, in the same area?)

Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution?

If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along with a large home, you more than likely…

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How the points you pay determine your mortgage rate

How the points you pay determine your mortgage rate

What affects your mortgage rate?

Your mortgage rate depends on many factors, like your property location, the economy, and loan size. One really influential factor is the amount you pay for your home loan. And fortunately, it's a variable over which you have complete control.

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When you pay more to have a lower rate, this is called "buying down" your mortgage rate, and the fees you pay are called "points." each point is one percent of the loan amount.

How do points drive your mortgage rate?

The relationship between your mortgage rate and its costs is an inverse one. When other factors are equal, a loan with higher fees has the lower interest rate. Home…

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Why buying a home near your favorite grocery store matters

Why buying a home near your favorite grocery store matters

Think real estate and groceries

Buyers need to think about many factors before buying a home in Central Florida. These include price, neighborhood amenities, area schools and commute time.

New data suggests that nearness to your preferred food store should also be pondered. Shopping convenience is one perk. But a bigger one is the effect that grocer can have on your home’s value. This nearby store may affect your flipping or renting prospects, too.

Homebuying tips: how to choose your neighborhood

While this probably should not make or break your choice on where to buy, it can better inform your decision. So when scouting a home for sale, take time to learn which food stores are…

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Statute of limitations on old debt: Do I have to pay it back to get a mortgage?

Statute of limitations on old debt: do i have to pay it back to get a mortgage?

Is there old debt lurking in your financial closet?

Before you apply for a home loan in Davenport FL, it's a good idea to get a copy of your credit reports. Suppose your report includes some old debt from years ago. And suppose that's timed out as a result of your state's statute of limitations on debts.

Don't "reactivate" an old collection when you apply for a mortgage

What you do next could have a huge impact on your ability to get your mortgage application approved. And it could affect your financial well-being for years to come. So read on to make sure you know how to protect your interests.

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How to get a copy of your…

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How loan features affect your mortgage rate (and what to do about them)

How loan features affect your mortgage rate (and what to do about them)

Why a loan's features change your mortgage rate

Your mortgage rate depends on many factors like the economy, your credit scores, the kind of property you're purchasing, and others. One factor that you have a lot of control over is the loan you select -- it's features and terms.

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What features affect your mortgage rate?

Features can shift risk from you to the lender, which increases your price, or from the lender to you, which drops it. For example:

• Rates that are initially fixed but then reset
• Interest-only payments
• Terms ranging from five to 40 years or longer
• Prepayment penalties
• Cash out refinancing

We'll look…

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How to Save For a House in One Year

How to save for a house in one year

Getting in the right financial mindset is crucial. Saving can feel overwhelming, but small moves add up quickly. You can do it!

7 simple steps to help you save for a house in just twelve months.

Want to buy a home in Davenport FL, but don’t have a pile of cash in the bank? You’re not alone. Trulia research tells us that saving up for a down payment is the biggest obstacles to homeownership for first-time buyers, behind poor credit history, qualifying for a mortgage, and rising home prices. When I saved up for my first home, it took several years. So as I can attest, the struggle is real but not impossible.

First, how much…

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8 Ways To Increase Your Home’s Value On A Budget

8 ways to increase your home’s value on a budget

A few strategic, affordable upgrades can add big value to your home.

Increasing the value of your home when selling can be a difficult task, but a few home improvement ideas can help you stage for success while keeping within your budget.

8 Home Improvement Ideas Under $1K

1. Install a programmable thermostat

Heating your home accounts for more than 40% of its total energy usage, according to the U.S. Department of Energy. Programmable thermostats allow you to customize a temperature profile throughout the day. Reducing the temperature inside your home by a degree or two while you sleep can lead to huge savings on a monthly…

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Study: FSBOs Don’t Save Real Estate Commission

Study: fsbos don’t save real estate commission

One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it. A new study by Collateral Analytics, however, reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. See 5 common mistakes for sale by owners make in 2017 . The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the…

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How to shop for a lower mortgage rate

How to shop for a lower mortgage rate

Lower mortgage rate: not rocket surgery

At first it seems pretty simple: If you want a lower mortgage rate, you just check a few rate sheets, and the job is done and over. That sounds good, but the reality is that such an approach is likely to leave a lot of money on the table. Your money.

Homes for Sale in Davenport FL -  How do I see today's "real" mortgage rates?

The problem with looking at interest rates alone is that a mortgage is a piece of complex financial engineering. It has a number of moving parts. If the interest rate is all you check, you could miss higher costs elsewhere in the transaction. If you really want to find lower rates, you have to look at more than the big type.

…

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