Here’s how to clean up your credit so you get the least-expensive home loan possible. Getting the loan that suits your situation at the best possible price and terms makes home buying easier and more affordable. Here are seven ways to boost your credit score so you can do just that. 1. Know your credit score Credit scores range from 300 to 850, and the higher, the better. They’re based on whether you’ve paid personal loans, car loans, credit cards, and other debt in full and on time in the past. You’ll need a score of at ...

July 30, 2010 by Amy Willis

Know the basics of FHA loan rules and you stand a better chance of selling your house or condo. Make your house FHA-friendly, and it will appeal to more homebuyers. Why? Because the Federal Housing Administration is insuring the mortgage loans used by about 30% of today’s homebuyers. If your house passes the FHA rules, it will appeal to buyers who plan to use an FHA-insured mortgage. If your house doesn’t qualify for an FHA loan, you’re cutting out 30% of potential buyers. FHA is especially important to first-time homebuyers and those with small downpayments because it allows borrowers ...

July 23, 2010 by Amy Willis

By: G. M. Filisko  Published 2010-03-11 16:55:18            By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.           Instead of just taking out the biggest mortgage a lender qualifies you to borrow, consider how much you want to pay each month for housing based on your financial and personal goals.           Think ahead to major life events and consider how those might influence your budget. Do you want to return to school for an advanced degree? Will a new child add day care to your monthly expenses? Does ...

July 16, 2010 by Amy Willis

Keep your emotions in check and your eyes on the goal, and you’ll pay less when purchasing a home. Buying a home can be emotional, but negotiating the price shouldn’t be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers. Here are six tips for negotiating the best price on a home. 1. Get ...

July 9, 2010 by Amy Willis

The United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow pending transactions to move forward.  For those homeowners that have not been able to renew or get new flood insurance, check with your local insurance provider for information.  If you are worrided about the lapse in time that you haven't had coverage, the bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension. ...

July 2, 2010 by Amy Willis

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