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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

3 Quick Tips to Improve Your Credit Score

Many people do not realize how crucial their credit score is when they are younger. The reason for this is that they do not take the time to educate themselves properly on the benefit of having a credit score. If you live in the Coral Gables area and are trying to find viable ways to increase your credit score quickly, it is wise to consult with a mortgage broker in Coral Gables. By doing this you can find a way to improve your financial health and be approved for more credit based applications. This will do a great deal for your financial health in the long term. Here are three quick tip...

May 12th, 2016 | Credit, Credit Score, 3 Quick Tips to Improve Your Credit Score

Five Tips to Getting the Best Mortgage Rate Through Revamping Your Credit Score

The singular most important factor to getting the best mortgage rate and getting approved in the first place is to have superior credit. If you live in the Miami area, it is best if you consult with a Miami mortgage lender to learn about how to revamp your credit score two to three years before you are considering buying. This will help you to get the best credit score possible. Consider these five tips to boost your credit in order to get the best mortgage rate possible:  Lower Credit Card Balances. If you have substantial credit debt, you need to lower your balances in o...

April 18th, 2016 | Credit, Credit Score, Rates, Mortgage, Five Tips to Getting the Best Mortgage Rate Through Revamping Your Credit Score