VantageScores

Linda Bagley
New Credit Scoring Available to Consumers and Lenders This is pretty exciting news for those of us who prefer not to use credit cards and prefer to pay cash for what we buy. You will now have a number and a grade A, B, C, D or F to determine you credit worthiness. While it still remains important to have and use credit VantageScore will evaluate credit worthiness by taking into account … Read More

The No-Cost Thirty Year Fixed Rate Mortgage

Linda Bagley
The No-Cost Thirty Year Fixed Rate Mortgage There really is no such thing as a “no-cost” mortgage loan. There are always costs, such as appraisal fees, escrow fees, title insurance fees, document fees, processing fees, flood certification fees, recording fees, notary fees, tax service fees, wire fees, and so on, depending on whether the loan is a purchase or a refinance. The term “no-cost” actually means that your lender is … Read More

Which ARM is the Best Alternative?

Linda Bagley
Which ARM is the Best Alternative? How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about one percent below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not have to document your income, savings history, or source of down … Read More

Closing Costs When Buying or Refinancing a Home

Linda Bagley
Closing Costs When Buying or Refinancing a Home This is a detailed summary of costs you may have to pay when you buy or refinance your home. They are listed in the order that they should appear on a Good Faith Estimate you obtain from a mortgage lender. There are two broad categories of closing costs. Non-recurring closing costs are items that are paid once and you never pay again. … Read More