How much cash are you going to need at closing? What account are you going to pull these funds from? After you have met with your Mortgage Planner and you are trying to decide how to structure your offer to the seller, consider the option of having the seller contribute towards closing/prepaids.
If the industry is [...]
I received a phone call today from a couple who was driving around last weekend and just happen to come upon an open house. It was their dream home and it had everything they could ever want in a home. Pool, bonus room, and huge walk-in closets made it easy for them to decide it [...]
The day you close on your new home does not need to be full of chaos or surprises. You need to understand very early on in the home loan process how much money it is going to take from you to close the deal. The funds required to close is disclosed to the buyer from [...]
There are some interesting facts out today from Experian:
- 1 in 7 Americans carry 10 or more credit cards
- The average credit score nationally dropped to 674
- The average American holds four credit cards
Check out the National Score Index for some revealing data about our credit card nation.
Understanding how credit scores are calculated can help [...]
Hey Eddie, should you pay any principle on your mortgage? There correct answer is not the same for everyone. For most Americans, the principle reduction of their mortgage is the only forced form of savings they have. Paying towards principle seems like a good idea and watching the mortgage balance decrease makes people happy. The [...]
Two of the hot topics lately are affordabilty and sustainability. In short, can the borrower afford to get in a home (qualify) and can they stay in the home (avoid having to sell). As home prices have increased, many buyers have used non-traditional mortgages to help them bridge the gap between the cost of the [...]
Sometimes it is nice to know that you are not the only one who is having financial hardship. Coming to grips with spending habits and debt levels is not easy for some to do. Not talking about it will not help the situation get better. Here are a few consumers who have taken their effort [...]
On Saturday, there was a Housing Fair held at the new EOA building at 1120 May Street. There were enough doughnuts and coffee on hand to wake even the best of them. From 9am till noon, Quennie Parker (912) 238-2690 led short classes on how to become a homeowner. With a focus on education to [...]
It was a cold and rainy day here in Savannah, which made for ample parking downtown. You can’t pass that up. I had the chance to speak with Darrel Daise, Director of Community Housing Services Agency (CHSA). We sat down to talk about the city’s effort to increase home ownership.
The City of Savannah’s Department of [...]
Make no mistake about it. The evolution of credit scoring has helped consumers. The system was designed to give lenders a faster, unbiased idea about the risk associated with making a loan to someone. Think of it as a measure of a person’s credit worthiness. How exactly is the score calculated? There are [...]
