Lending, Real Estate

Compare Mortgage Rates with the Government’s New Rate Checker Tool

“It pays to shop around for your mortgage, since lenders’ rates are all over the place. This rate checker from the US Consumer Financial Protection Bureau shows the most common rates based on your financial inputs. In the example above, most lenders are offering 3.75%—but some go even lower. The rate checker takes into account your credit score, state, and…

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Lending, Real Estate

Boomerang home buyers are coming back – Money.CNN.com

“Half a million home buyers: Homeowners can recover from foreclosure in as little as three years, but seven years is the “conservative” amount of time it takes to rebuild a credit score, according to RealtyTrac. That means many homeowners who lost their homes in 2007 should be able qualify for a new home loan this year. More than 500,000 people…

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Lending, Real Estate

Do I Qualify For a Mortgage Loan?

What is your credit score? This is one of the easiest ways for banks to determine if a borrower is eligible for a mortgage loan of any kind. Generally a score over 640, and having your finances in general good shape, is considered good credit and a good lending-risk. How long have you been employed? A solid employment history at…

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