02
Oct
By Todd Grey
Credit Scoring, ,

Steps to Take Now to Build Your Credit for a Home Purchase Next Year

If you're thinking about buying a new home next year, there's one important factor to consider before you start browsing listings—your credit score. A strong credit score can make a huge difference in the interest rates you will qualify for and can also determine your mortgage approval. Starting the process of improving your credit now gives you a head start, putting you in a better position to achieve your homeownership goals when the time comes. Here are five steps to help you get started: 1. Check Your Credit Report Before anything else, it's essential to know where you stand. Request…
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01
Oct
By Todd Grey
Home Mortgage, ,

How Much Equity Can You Borrow Today?

Your home equity represents one of your most valuable assets. When it comes to borrowing against that equity, many homeowners question how much can they borrow. Understanding the amount of equity you can tap into today is essential, especially if you're considering a home equity loan or line of credit (HELOC) for major expenses like home improvements, debt consolidation, or other financial needs. What is Home Equity? Home equity is the difference between your home's current market value and the outstanding balance on your mortgage. As you pay down your mortgage and your property’s value increases, your equity grows. The…
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30
Sep
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – September 30th, 2024

With the release of the PCE Index data, we are seeing the trend hold as inflation continues to slow down. This gives the Federal Reserve room to continue its rate cuts in the future. Following the positive news for inflation data, the GDP has also seen a larger-than-expected growth of 3% this quarter. The only data running against the tide is the Consumer Confidence reports, which reported to show that consumers are at their most anxious since 2021. We should expect a greater impact on the lending and broader markets ahead of the elections. PCE Index The Federal Reserve’s preferred…
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27
Sep
By Todd Grey
Mortgage, ,

VA vs FHA vs USDA What’s the Difference?

You may have more options than you think when it comes to securing a mortgage for your new home. While many buyers opt for conventional financing, another option or program might be a better choice for you, depending on your personal and financial situation. Learning more about FHA, USDA, and VA loans ensures you get the best possible deal for your mortgage and that you secure the loan that you need for your new home. Here’s what you need to know about these useful mortgage options. FHA LoansThese are traditional mortgages that are backed by the FHA: when you take…
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26
Sep
By Todd Grey
Mortgage, ,

An Overview Of Umbrella Insurance: How It Works

Accidents can happen from time to time, which is why it is important for people to have insurance. While you might be able to fix some accidents on your own, others can lead to a significant amount of financial stress. This is why people must have insurance. Insurance is supposed to help individuals and families pay for catastrophic expenses; however, what happens if the insurance policy is not big enough to cover the expenses? That is where umbrella insurance can be helpful. What is umbrella insurance, and how does it work? Learn more about how umbrella insurance might be able…
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