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Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality: Learn Your Options Start with an open discussion with a lender. Let them know you do not have the best credit but that you would like to refinance. They have ...

October 9th, 2019 | Credit, Refinancing a Home, Can I Refinance with Bad Credit?

Can I Get a Mortgage Without a Credit Score?

You need a good credit score to get the best rates on mortgage loans. Less-than-perfect scores will mean higher interest rates and subprime credit scores will make borrowing money very expensive. But what if you have no credit score at all? Is it possible to get a mortgage without a credit score?  The Credit Score-free Population According to the Consumer Financial Protection Bureau (CFPB), there are approximately 26 million American adults without a credit history and another 19 million whose credit histories are too outdated or limited to be scored with the traditional methods by ...

September 18th, 2019 | Preapproval, Purchasing a Home, Credit, Can I Get a Mortgage Without a Credit Score?

What is a Loan-to-Value Ratio?

Once you get serious about buying a home or refinancing your current mortgage, you will probably hear the term “loan-to-value ratio” mentioned by your lender. What is this ratio and how does it affect your mortgage? Loan-to-Value Ratio Defined A Loan-to-value ratio, also known as an LTV ratio, is the calculation of how large your mortgage is compared to the value of your property. In order to find your LTV,  divide your loan amount by the appraised value of the property in question. In general, the lower the ratio, the better your mortgage terms and interest rate wi...

July 10th, 2019 | Credit, What is a Loan-to-Value Ratio?

4 Ways to Improve Your Credit Score in Six Months

Maintaining an ideal credit score is quite difficult if you have run into financial trouble. The important thing to realize is that you are absolutely able to come back from a negative credit score if you work hard and settle your debts. If you are considering relocating to Miami and purchasing a home, it is important to work with a local mortgage broker in Coral Gables to see how you can qualify for a mortgage once you improve your credit score. Here are four ways to improve your credit score in six months: 1. Pay Off Credit Card Debt: If your credit cards are maxed out, then you...

March 17th, 2017 | Credit Score, Debt, Miami, Credit, 4 Ways to Improve Your Credit Score in Six Months

2 Things Your Mortgage Broker May Not Tell You

When choosing your mortgage broker, it is essential to act with caution. The reason for this is that choosing a mortgage broker that is unreliable can cost you dearly in the long term. If you are moving to the Miami area, be sure to consult with a mortgage broker in Coral Gables for your purchase. That being said, be sure that you are going to the appointment informed about the important purchase that you will be making. Here are two things that your mortgage broker may not tell you: 1. You Need a Good Credit Score: While this may seem obvious, some mortgage brokers neglect to dis...

August 25th, 2016 | Broker, Mortgage, Credit, Miami, 2 Things Your Mortgage Broker May Not Tell You

Four Things You Need to Know About Home Mortgage Interest Rates

If you are living in the Miami area and you are considering either purchasing a home or refinancing an existing mortgage, then it is best that you consider meeting with a mortgage broker in Coral Gables. By taking this important step, you will be able to learn more about viable mortgage options for your individual situation. Here are four things you need to know about home mortgage interest rates: 1. They Are Tied to Your Credit Score. A common myth is that your credit score does not apply to your mortgage interest rate. This is false because your credit score is what determines how yo...

May 16th, 2016 | Interest Rates, Rates, Credit, Credit Score, Four Things You Need to Know About Home Mortgage Interest Rates

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