We’ve teamed up with Leah Odom, the Senior Loan Officer at the Carolina One Mortgage office here on James Island, to get you more information about financing a home – home loans/mortgages, interest rates, credit scores, and tips for getting the loan you need.
This category currently has 25 blog entries.
This is the lowest that rates have been in years!!! And remember, each point dropped translates to saving about $100 per month on the same loan. So, that general rule of thumb might help to put this into perspective. I wanted to pas...
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Many buyers have been asking about the tax credit for home buyers coming up this tax year. Although this topic has gotten a lot of coverage in the news, people have gotten really confused about what it is. So, I wanted to clarify some of th...
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Not too long ago, buyers were able to purchase homes without making a down payment. There were several options for these zero down loans, such as Fannie Mae’s My Community or Du Flex loans. An around the way (but quite popular) option...
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Home mortgages have gotten a lot of attention in the news during the past few weeks. As home buyers keep hearing about how lenders are tightening the loans they give out, many people are wondering if they’ll now be able to get the home the...
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Private Mortgage Insurance (PMI) is an insurance policy the borrower pays for which protects the lender in case of foreclosure. You’ve probably heard about PMI before, since most loans over 80% usually require PMI. It has actually got...
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One of the most important parts of choosing a lender is usually the last thing people think of. Make sure that the lender you choose is actually going to have the money at the closing table. Believe it or not, this has been one of the bigge...
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The best advice I can give is to own your credit report. And, make sure it’s accurate before it gets pulled by a lender. There are several websites available to help you check your credit. For example, Equifax.com allows you to s...
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What credit score do you need to buy a home? The credit score you need largely depends on which home loan you choose. For example, with FHA loans, no credit score is even required. There is a magic myth that rates change everyday....
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