Category Archives: Uncategorized

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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Mortgage Advice You Should Ignore

When you start talking about buying a new home, you’ll start getting advice. Some will tell you where and what to buy and others will give you mortgage advice. Before you listen, check it against our list of 5 pieces … Continue reading

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3 Reasons to Talk to a Lender Now if Buying a Home is a Long-term Goal

    There are three good reasons why: Preparing ahead means you’ll get the best loan when the time comes. A good lender will show you what you need to do now and in the coming months to assure that … Continue reading

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What is a Credit Freeze – and Should You Get One if You’re Going to Need a Home Mortgage?

As evidenced by the many security breaches in recent years, consumers can no longer trust that their information is safe with banks, retailers, credit reporting agencies or even the Veteran’s Administration. No one knows where the next security breach may … Continue reading

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When You Need to Use the Equity in Your Home…

When You Need to Use the Equity in Your Home… When you need to exchange the equity in your home for cash, and assuming you have the income and the credit to obtain a new loan, you have three choices: … Continue reading

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Should you consider recasting rather than refinancing your mortgage?

  Have you come into a nice sum of money that you plan on using to reduce the balance on your home mortgage? If so, you have three choices. You can make a lump sum payment on your current mortgage … Continue reading

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Buying that Beautiful Home Could Make you “House Rich and Cash Poor”

Becoming house rich and cash poor is an uncomfortable, financially dangerous position. It means your financial worth is tied up in your house, leaving very little in your bank account. It also means that should a financial crisis occur, you … Continue reading

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Is the Dallas Real Estate Market in Trouble?

  A recent headline in the Dallas News proclaimed: “Homebuyer interest is cooling off, Realtors’ top economist says.” That does make it sound like trouble, but in some ways “cooling off” is good news, not bad news. For a few … Continue reading

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