Most people pay the minimum amount due each month toward their mortgage, taking either 15 or 30 years to pay off the loan, depending on the original terms. However, if you can afford to pay more—even just a small amount—it can make a big difference in your [...]
Job Stability
The lender needs to see signs of stability. Don't make any sudden changes in your employment if you're planning to apply for a mortgage soon-stay at your job for well over two [...]
The Federal Housing Administration announced in January that it would reduce its annual mortgage insurance premiums by half a percentage point-dropping it from 1.35 percent to 0.85 percent. FHA-backed loans are popular with new homebuyers, and offer downpayment options as low as 3.5 percent of the purchase price, but require mortgage [...]
When becoming informed about what affects your credit score, it's just as important to know the things that don't have an impact on your credit score-either positive or negative-as it is to understand the factors that can help or hurt your credit. Here is a look at five things that surprisingly won't affect your credit [...]
