Mortgage 101 Archives - Page 4 of 4 - Chris Jordan Mortgage Team

WHY IT’S IMPORTANT TO PRE-QUALIFY FOR A LOAN

February 28, 2017 CJMT No Comments

Growing up, most of us heard the words “be prepared”. Although it sounds ominous, this advice is applied to most aspects of life, including home buying. In order for the loan process to run smoothly, one of the smartest things to do is get pre-qualified…

Credit Tips Home Buyer Tips Mortgage 101

HOW CREDIT SCORES AFFECT MORTGAGE RATES

February 28, 2017 CJMT No Comments

Obtaining a low mortgage interest rate can help you save money on the price of your home. While many people try to compare lenders to secure the best possible rate, one of the main determinants of a mortgage rate is your credit score. Borrowers with…

Credit Tips Expert Advise Mortgage 101

Credit Checks & Inquiries

February 14, 2017 CJMT No Comments

Many people have been taught that you never pull your credit because your credit scores will drop, but that's really not true. There is a negative association with poor credit scores and credit inquiries that can easily be explained. Everyone knows that those who don't…

Home Buyer Tips Loan Origination Mortgage 101 Purchase Total Cash Required

Down Payment Options

January 9, 2017 CJMT No Comments

Minimum down payments can range greatly depending on the type of property, loan type and borrower credentials. Here are a few of the more common down payment options explained. No down payment required - There are several loans that can be categorized as having no…

Home Buyer Tips Mortgage 101 Mortgage Planning Total Cash Required

Seller Credits / Lender Credits

January 2, 2017 CJMT No Comments

A seller credit is an agreed upon amount of money that the seller of a home will credit the buyer at settlement. This amount is negotiated for in a sales contract. The credit is then applied towards the buyers closing costs, prepaids and escrow costs…

Home Buyer Strategy Home Buyer Tips Misc Mortgage 101 Mortgage Planning Purchase

Get your contract accepted – Beat the competition

December 14, 2016 CJMT No Comments

Offering more than your competition, or removing contingencies has always been a way to beat the competition, but there are a few other things you can do to put yourself at an even greater advantage. Get pre-approved before you start looking at homes. Looking at…

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