Do you know your credit score? This three-digit number is as important to the home buying process as your real estate agent and your down payment. Having the highest credit score possible can save you thousands of dollars over the course of your mortgage. If you are ready to invest in improving your number, here’s how.
- Posted by Kristin Demshki
- loan process application processing underwriting prequalifying appraisal
You have made the decision to buy a new home and the house you love is on the market. You’ve submitted your loan application, but what’s next? What are the remaining steps until you have assurance that the new home will be yours?
With some mortgage experts projecting rates to remain near historically low numbers, it’s no surprise that refinancing continues to be a popular home loan option. Before you start comparing lenders, however, it’s important to take a 360-degree view of your options.
When applying for a home loan, prospective buyers may find they must provide their lender with a mountain of paperwork, including: past statements of income, tax returns, credit, debts and additional assets. With so many documents to collect, undergoing loan processing and underwriting can be rather intimidating. Fortunately, you don't have to go it alone.
- Posted by Jeremy Bachmann
- loan process
Knowledge@Wharton recently explained recent research that shows just how bad we are at differentiating between good and bad advice when we're anxious. It seems the more worried and uncertain we become, we become more open to advice and less discriminating about the source.