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Sale of Large Homes on the Rise

Posted by GO Mortgage Team on 9/18/20 1:37 PM

With Americans spending more time at home, many families are eager to buy a house to make their own and fleeing to the suburbs where they can enjoy more space and work remotely.

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Topics: first time homebuyers, homebuyers, real estate markets, housing market, larger homes

Understanding how your Credit Score is Calculated

Posted by GO Mortgage Team on 8/28/20 8:49 AM

Credit Scores are created by a mathematical formula that reviews a person’s outstanding credit, credit history, and past payments. Credit scores can range between 300 to 850 and are used to help lenders determine how likely you are to make your proposed payments on time. The higher the score, the less likely people are to default on their loan.

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Topics: FICO score, first time homebuyers, homebuyers, credit, credit report, credit score

It's Never Too Late To Start Rebuilding Your Credit.

Posted by GO Mortgage Team on 8/21/20 12:32 PM

When it comes to applying for a mortgage, your credit score is the main factor in determining everything from your interest rate, to your monthly payments, and the terms of your loan. Lenders use credit scores to determine the amount of risk they are taking when issuing a loan. The lower the credit score, the higher the risk that is associated with the borrower.

The good news is you don’t need a "perfect" credit score to secure financing. There are home loans available that only require a minimum of a 580-credit score. However, the better your score, the better your chances are of getting a favorable loan, and potentially better interest rates. 

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Topics: first time homebuyers, homebuyers, credit, credit problems, credit report, credit score, minimum credit score, credit qualifying

Is a Fixer Upper the Right House for You?

Posted by GO Mortgage Team on 6/29/20 10:58 AM

Many people are looking at their homes differently due to the recent pandemic, as a home and as a workspace. Improving their home office, wanting more space and low-interest rates are contributing to the increasing demand for new homes.

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Topics: FHA 203k loans, first time homebuyers, homebuyer, rennovation loans, mortgage loans, fixer uppers, repairs

Is the Housing Market Experiencing a Cool Down?

Posted by GO Mortgage Team on 8/24/18 10:52 AM

Fall weather is right around the corner, is the market experiencing a cool down too?  Existing home sales slipped 0.7 percent in July according to the National Association of Realtors (NAR) but that doesn’t mean it’s a buyer’s market yet.   

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Topics: first time homebuyers, pre-qualified, pre-approval, buy

Tips For First-Time Homebuyers In A Low Inventory Market

Posted by GO Mortgage Team on 6/15/18 1:32 PM

After trolling around listing sites for weeks, maybe months and reaching the point of realization that there are not many houses to choose from, you may think to yourself that you will never find a house. The number of homes available to first-time homebuyers has dropped 12.1% since 2012. So, when you find a starter home while scouting neighborhoods that have a low housing inventory, always remember that it’s an available option. Here are some tactics to navigate the low housing inventory landscape:

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Topics: first time homebuyers, mortgage loans, inventory

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