Savvy consumers are aware of the importance of their credit score. Some learn how important their credit score is through their own trials in life. If you are like some, you may have applied for a loan in the past and learned that your credit scores are too low to qualify. Others have been fortunate enough to read about the importance of credit scores on their own, or they have learned this lesson from family or friends. While many people are aware that it is important to have a good credit score, few understand what a good credit score actually is. Continue Reading >>
Applying for a home mortgage can be stressful for numerous reasons. Even those with the highest credit scores and most stable income history often worry that their loan request will not be approved by underwriting. More than that, however, is the physical aspect of going through the loan process. A loan processor generally is designated to each loan request, and you may find that developing a great relationship with your loan processor (sometimes through you loan officer) helps you to close your loan request more quickly and with less stress. Continue Reading >>
At one point or another, you may have a period in your life where you find yourself with a low or damaged credit score. Although having a bad credit score can be extremely stressful, there are ways that you can repair your credit and boost your credit score.
Do Your Homework
The first step to repairing your credit is to do your homework before beginning the process. This means ordering your credit reports. Continue Reading >>
As a partner with Keller Williams Real Estate in Vancouver, WA we were fortunate to be included in their annual Community Service Day – Red Day. It is short for Renew, Energize and Donate and every Keller Williams office across the nation participates by taking the day off and giving back to their communities. Continue Reading >>
We helped Jalyn purchase his first home in sunny San Diego. Jayln currently serves our military and needed a place for his family to call home. Paramount Equity was able to help Jalyn get a great rate and provided him with fast and professional service. Check out the video to hear his story.
When you apply for a mortgage loan, the lender will evaluate your loan application closely. After the loan officer collects all of the appropriate information from you, it will be sent to a mortgage underwriter. Home loan underwriting is an important step in the process of getting approved for a mortgage. Every loan must go through underwriting in order to get approved. If you understand how underwriting works, you’ll be less likely to get impatient or frustrated with the process.
Due to the recent disastrous experience in the mortgage market, banks have become much more cautious in their lending practices. While it is not as easy to qualify for a mortgage today as it might have been five or six years ago, there are still plenty of options available for homebuyers looking to finance a house.
A borrower with excellent credit has a wide array of different types of mortgage products from which to choose. There are the traditional 30 and 15 year fixed loans. There are variable loans and loans that have a balloon payment. While each individual buyer must evaluate the appropriateness of a given type of loan based on their own personal circumstances, in many cases, it makes sense to seek an adjustable rate mortgage (ARM). Continue Reading >>
Purchasing a home is a dream for many people. Whether you are an individual or raising a family, home ownership is a great way to build wealth. However, it generally takes a good credit score to get a home loan. Here are five things to consider if you are looking for a home loan with bad credit.
1. Put More Money Down On The Home
Most banks require at least 10 percent of the purchase price upfront. Putting down 20 percent of the purchase price shows you have the means to make timely payments. Continue reading >>
When you get a mortgage, closing costs will be a significant cost that you need to consider. One type of closing cost that you may have to pay is mortgage points. Mortgage points are a type of pre-paid interest that can be included as part of the upfront money that you have to pay a mortgage lender in fees.
Mortgage Points 101
The basic idea behind mortgage points is that the lender is essentially getting some of its interest on the front end of the deal. The value of one point is one percent of the value of the loan. For example, if you were taking on a $200,000 mortgage, one point would be equal $2,000. Continue Reading >>
Paramount Equity was able to give us the complete package-refinance, solar and lowered our insurance rates. The entire transaction took under two weeks. Paramount Equity has staff that is very knowledgeable in all areas, insurance, mortgage and solar and they made it very easy for us. I would recommend them to all of my friends.”
