Author Archives: theloanman

Untangling the gifted down payment puzzle…

If you want to buy a home, are short on down payment funds, and have a relative with the money and the desire to help you, it’s time to celebrate! However, you will need to follow a few rules. First, … Continue reading

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Will checking your credit harm your credit rating?

When you’re planning to purchase a new home, you naturally want your FICO credit score to be as high as possible. As a result, you may be getting plenty of advice on what to do and what not to do. … Continue reading

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How to choose the right mortgage lender for you

When you want to purchase a home, the two people most important to your success are your real estate agent and your mortgage lender. Your agent will be instrumental in helping you find the right house, then negotiating the most … Continue reading

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What Affects Mortgage Rates?

If you ever use the Internet or open a newspaper, you’ve seen ads from home mortgage lenders advertising their low interest rates. You may have even contacted one of those lenders, only to learn that the advertised rate only applies … Continue reading

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What Homeowners Need to Know about Capital Gains Taxes

  First, what is a capital gain? It’s the profit (if any) that you make on property, such as a personal residence, that you sell after owning it for a year or more. Capital Gains Tax is the tax on … Continue reading

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Expenses to prepare for as a First Time Homebuyer

If you’re a first time homebuyer, you may have thought ahead to a few of the expenses you’ll face over the next year. For instance, if you now own a lawn, you might have set aside money for a lawn … Continue reading

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The Population of Texas is Exploding. Why?

About 14% of U.S. citizens migrate from one state to another each year, and for the past several years, Texas has been one of their most favored destinations. Last year, the two fastest growing population centers in the U.S. were … Continue reading

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What is a FICO Score and Why Does it Matter?

FICO is the credit score used by banks to determine whether they’ll grant you a mortgage loan and if so, what interest rate you’ll pay on that loan. FICO is just one type of credit scoring. Insurance companies and others … Continue reading

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2018 Mortgage Advice Not Valid for All Borrowers Today

Looking for advice about getting a home mortgage loan in 2019? Don’t ask someone who got a loan 10 years ago – or even last year. Advice that was valid then might not be right for you today. As the … Continue reading

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Are You Required to Have a Mortgage Pre-approval Before You Choose a House?

Is mortgage pre-approval required? Yes and no. Legally, you can search for a home and write an offer without being pre-approved for a mortgage loan. However, many real estate agents won’t show you homes until you either show proof of … Continue reading

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