Jan. 25 (Bloomberg) — Nicolas Retsinas, director emeritus of the Joint Center for Housing Studies at Harvard University, talks about the outlook for the U.S. housing market and mortgage foreclosures.
U.S. home prices have reached a bottom and may be set to rise in the first half as buyers take advantage of increased affordability, said Karl Case, the economist who co-founded the S&P/Case-Shiller home price index. Retsinas talks with Pimm Fox on Bloomberg Television’s “Surveillance Midday.” (Source: Bloomberg)
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Hi my name is Austin Niemiec, I’m a Senior Mortgage Banker at Quicken Loans and I’m here today to talk about the importance of credit and the effects it has on applying for a mortgage.
So to begin, credit simply can be defined as a tool or a measure that companies like ourselves use to determine how likely you are to pay back a loan on time. There’s a lot of different factors that go into your credit and your credit profile.
Some of the main ones are the amount of credit card debt you have, how consistent you are on your payments in your mortgage, auto loans, student loans and there’s also a section for public record, such as bankruptcies, foreclosures, charge-off judgments that can have a derogatory effect on your credit score.
What is a good credit score?
In today’s lending environment, anything over a 740 is considered excellent or platinum. The average American has a credit score of around 680 and we can even lend as low as 580 in some cases.
Why is credit important when applying for a home loan?
It’s very, very important that your mortgage expert has an accurate, up-to-date credit profile when quoting you a mortgage rate. It’s going to affect the exact program, it’s going to affect the exact interest rate, it will also affect positive and negative pricing adjustments on your loan. So, to get an accurate quote, you need to have an up-to-date credit profile.
As a consumer, it’s very important that you know what’s going on in your credit world. There may be some small collections that you may not be aware of that pull your score down dramatically. There’s a very good website you can visit, and it’s free of charge, is Quizzle.com. It will give you a free peek at your credit report, it will also give you some advice and recommendations of how to get up to that top level or that top tier.
Any other questions can be directed to your mortgage expert, they’d be happy to elaborate further. Thank you.
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Loanusmoney.com is a mortgage company set on changing your view of the industry with our low rates, low fees and superior service. Our friendly staff will make you feel right at “home” during the whole process of obtaining a mortgage. We will walk you through buying that dream home or refinancing your current home step by step. The communication we provide is unbeatable and leaves you with that comfortable feeling that you are in the right hands. Loanusmoney.com offers Conventional, FHA, and VA loan financing so all your mortgage needs can be met without a doubt. You won’t regret calling Loanusmoney.com today for your absolutely free mortgage quote at (800) 905-9223 or stop by our convenient location at 5180 E 81st Ave, Merrillville, IN 46410 (on the north side of Route US 30). We also have First Time HomeBuyer seminars monthly. Loanusmoney.com works on a referral basis and we are confident that once you try us that you will refer all your family, friends and associates.
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David Bach helps you understand the basics about your mortgage; how much you can afford, how to get qualified, what term is best for you and much more. You’ll learn how to find a lender of integrity to help you make these important decisions and prepare you for the homebuying process and serve you after you’ve bought your home.
Remember, homeownership is still the single most important investment you can make in your lifetime. Look for other webisodes in this series by searching for “Smart Homeowners” or visit finishrich.com
Duration : 0:5:15
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While the housing market has been a drag on the economy for years now, falling prices and low rates have been great for buyers. But will that trend continue into 2011?
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PHOENIX, AZ Rick Black AZ Professional Realty http://www.realestatebook.com/homes/listing/101-3000625790/refer=FP42A CALL RICK FOR SHOWING (888)513-9022 – CLOSING COSTS PAID, ASK RICK HOW – Fannie Mae HomePath property. You don’t want to miss this one! Great house – Great location! This property has a great room, an open bright kitchen, 3 bedrooms, 2.5 bathrooms, and a 2 car garage. New carpet and new interior paint. Purchase this property for as little as 3 percent down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage financing.
Duration : 0:0:56
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Peter Wallison of the American Enterprise Institute weighs in on the causes of the housing and mortgage crises.
Duration : 0:15:29
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Jan. 27 (Bloomberg) — Stuart Saft, chairman of the real estate department at Dewey & LeBoeuf LLP, talks with Bloomberg Law’s Lee Pacchia about mortgage lending and the fate of the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association, also known as Freddie Mac and Fannie Mae.
Duration : 0:3:31
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June 30, 2010 debate Wall Street Reform and Consumer Protection Act — HR 4173. Rep. Barney Frank (D-MA) sets the records straight on Fannie Mae/Freddie Mac and subprime mortgages. Frank calls out opponents for rewriting the history of reform efforts and gets in a couple of comedic jabs at Tom Delay.
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At Canada First Mortgage, we pride ourselves in the personal touch and relationship building with all of our clients. We are in the business of helping you find the best mortgage rates available, and arrange funding for the purchase or refinance of your property.
Simply put, we do the footwork for you to find the most suitable mortgage to fit your lifestyle. We have reserved for us the best rates available through an array of over 40 different leading lenders in Canada, including most major financial institutions. A short conversation with us can alleviate many questions or concerns you may
have about your mortgage situation!
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