What are Banks’ Lending Requirements for Refinancing?
In this low interest rate environment, we have an opportunity to buy and refinance at some amazing rate levels. I last saw such low rates in 2003, but we are now in a completely different lending landscape. Lenders are very cautious of who they are lending to and want...Retailers Filing for Bankruptcy: Use Your Gift Cards!
Beware of giving and receiving gift cards this holiday season. If you have a gift card or store credit with a retailer that has filed for bankruptcy, you can be pretty assured that you won’t ever see that money. You could try standing in line behind creditors in...*THIS* is Why a Good Credit Score is so Important:
From one day to the next, hits and improvements on credit score brackets got much stricter. Hits for lower credit scores (anything below 740) are bracketed by increments of 20 points starting with a 620 FICO. Based on today’s interest rates (which are really good...What is an Impound Account?
An impound account, sometimes referred to as a “Reserve Account” is when your property taxes and homeowners insurance get collected monthly along with your mortgage payment. In California, you have a choice as to whether or not you want an impound account, although...Paying Points – Does it Make Sense?
I’ve been asked a few question about the use of paying points the past few weeks, so I’d like to comment on this a little bit. Whether or not you should pay a point to buy down the interest rate takes both math and speculation. On average, 1 point buys down the...Loan Calculator
Try for free!
Free eBook
