Bellevue / Seattle Real Estate Mortgage Rate Watch: Have mortgage rates stabilized? For now we have developed support as a floor and as a ceiling.
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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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2008 Presidential Candidate Ralph Nader discusses the sub-prime market meltdown, the imminent foreclosure on millions of homes, and Nader/Gonzalez solutions.
Music by Eliza Wren
http://www.elizawren.com/
Family photos courtesy of Eliza Wren
Video by Karen Kilroy – http://karenkilroy.com
Duration : 0:3:30
http://www.localbizblogs.com/van
http://www.loanusmoney.com
Call Today at (800) 905-9223
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.
Duration : 0:10:52
Private mortgage insurance is added onto a loan when the borrower cannot provide a 20-percent down payment, as the lender takes a higher risk in this situation. Pay private mortgage insurance when making a small down payment with tips from a mortgage broker in this free video on mortgage loans.
Expert: Matthew McKillen
Contact: www.innovativefg.com
Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients.
Filmmaker: Christopher Rokosz
Duration : 0:1:2
http://www.sbbt.com
Cindy Eyanson
1960 Cliff Drive
Santa Barbara CA 93109
United States
Duration : 0:0:37
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?
Duration : 0:1:22
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
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.
Duration : 0:5:3
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!
www.canadafirstmortgage.com
Duration : 0:1:31