The Matter of a Down Payment

by | Oct 21, 2008 | Tips

We all know that getting a loan is much harder to get and to qualify for nowadays. First time homebuyer programs with low down payment requirements of 3.5%-5.0% down are still available, but they can be somewhat restrictive in who can get them, and can also be more...

To Mortgage or Not to Mortgage

by | Oct 14, 2008 | Tips

When I have a chance, I listen to the Ray Lucia Show on Bloomberg AM radio, which is a call-in show for people to ask questions on financial investment strategies. One call struck my interest, so I want to share it with you as well and give you an example of how I...

What is “APR”?

by | Oct 6, 2008 | Tips

APR is short for “Annual Percentage Rate.” The APR is the percentage figure that expresses your total cost of obtaining and financing a loan, i.e. what you’re truly paying for that mortgage. The APR is the percentage figure that takes the true Note Rate (the interest...

Credit Reporting 101

by | Sep 18, 2008 | Tips

In this credit crunch, lending is becoming much more credit-driven and minimum required credit scores of 680+ or 700+ are the norm. Your goal should be to get in the 700 range, but the higher the better. (Credit scores range from 350-850, 850 being the highest one can...

Online Interest Rate Quotes

by | Sep 11, 2008 | Rates, Tips

Every once in a while, a new client or referral will tell me that they saw rates that were lower than what I may be quoting. I appreciate having this conversation because I’m given an opportunity to tell them why. Not why the rates I’m quoting may be...

Credit Reporting and How to Avoid Junk Mail

by | Aug 25, 2008 | Tips

I had a meeting with a client the other day and we were discussing credit reports and how many pieces of junk mail he receives from credit card companies soliciting him to open up new credit cards. Obviously he’s on some list (or lists) because, if you’re not aware,...