5 Factors That Determine Your Credit Score

Your credit scores usually determine the price you pay for your money, whether it be your mortgages, your auto loans and leases, your credit cards, business loans, your homeowners insurance, and so on.  Perhaps the most significant part of your credit report is your credit score. Credit scores range from 350 to 850, with 850 being the best possible credit score that you could receive (and nearly impossible to achieve), and 350 being the worst possible credit score. 

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5 Income Tax Tips You Need to Know

It’s that time again – income tax time – to start thinking about gathering the documents needed to file taxes. The tax season begins tomorrow, Tuesday, January 19th.  The IRS will begin receiving electronic income tax filings as of this date.

The forms needed for filing your income tax returns include W-2 forms reporting wages or salaries, which employers will send out this month. You’ll also need Form 1099 reporting interest and dividend income (if applicable), Form 1098 showing interest … Continue reading

10 Questions Every Realtor Should Ask The Lender About TRID

As a real estate agent, it is important to understand the new mortgage rules – the TRID (TILA-RESPA Integrated Disclosure) rule and how it impacts your client transactions.  That includes checking with the lender with each of your transactions to become familiar with how the lender is implementing TRID. In fact, an interview of sorts is helpful to understand how prepared the lender is and how they intend to communicate with you throughout the transaction.

TRID has changed the landscape and … Continue reading

What Fees Are in the Annual Percentage Rate (APR)

It’s not uncommon for the Annual Percentage Rate (APR) to be confused with the interest rate when obtaining a mortgage. The interest rate refers to the rate charged on the amount borrowed and does not include the fees charged for the loan. On the other hand, the APR is the annual cost of the loan to a borrower including fees. Both are expressed as a percentage.

The following illustrates which fees are included, or not, in the calculation of APR. … Continue reading

16 Start to Finish Steps of Home Buying

Does the home buying process have you mystified?  Here are the 16 steps, from start to finish, that you need to know about the home buying process.

  • Search – Homebuyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs…today and in the future.
  • Mortgage-ApplicationLoan Application – It’s crucial that homebuyers supply the lender with as much information as possible, … Continue reading
  • How to Crack Your Credit Report Codes

    You’ve undoubtedly heard it before:  your credit report and credit score affect your ability to qualify for the best rates on services, insurance and especially, home loans. Personal credit ratings and scores have also become a qualifying gauge for employers, especially those who seek to place employees in a position of management or financial responsibility.

    Given the broad uses of your personal credit report, it is in your best interest to make every effort to maintain a healthy one. Often … Continue reading

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