Here’s a new addition for your home buying toolbox: a quick way to estimate a total monthly housing payment and the income needed to qualify.
Just bookmark this payment and qualification calculator link and make a quick visit while you’re looking at homes. I hope you’ll feel more comfortable knowing what you’ll likely pay each month and whether the loan may work for your particular situation.
Give it a try now!
A good credit score is important for more reasons than just obtaining new credit. These days, it can factor into everything from landing a new job to getting the best deal on your insurance policies. It's more important than ever to avoid late payments on your mortgage!
A 100 point drop for one late mortgage payment? It’s true. A single 30-day-late mortgage payment can cause your score to drop by as much as a hundred points. Credit scoring algorithms vary based on many factors, and in some instances, the damage may be even greater and last for years.
The costs accumulate. At the time, a single missed payment will cost you only a late fee, but the expense really adds up on your next loan or missed opportunity. Low credit scores typically mean a higher rate and cost. Higher rates can mean hundreds or thousands of dollars of extra expense over the life of a loan.
Missed payments are usually unplanned. Usually, events beyond our control lead to late payments, such as an accident, illness, job loss or family issue. At other times, carelessness or a hectic life may result in a forgotten payment.
What can you do?
Little other than time will decrease the negative impact of a late payment, so prevention is the one sure remedy. If you don't already have a good system in place to assure timely payments and are not sure what's best, reach out anytime. We'll be happy to help set up a plan that's right for you.
Getting the keys to your first home is an exciting goal. Use our quick game to discover four keys of preparation that may assure a smooth transaction.
The more you learn about the home buying process before you get started, the better you may feel about taking this step. Please reach out to me anytime you have questions. I'll be happy to help.
Your new home will likely be a place where you invest your time—with your loved ones, on your hobbies and even on yourself.If you're like most people, your home will also represent a significant investment of your money.How will that investment grow over time? No one knows for certain, of course, but based on historical trends, we can make some guesses.
Over the last 50 years, annual growth in home values has averaged about 5% nationally. Let this nifty calculator show you what that rate of increase could mean for you. You can even adjust the numbers to make your own predictions.
Please let me know if I can assist you in any way.
As you're looking for a new home or dreaming of homeownership, consider keeping this website handy. You can type in an address to learn more about the surrounding area, from typical commute, to schools that serve the neighborhood, to recent sales. There's lots more to discover too. Check it out:
Thank you again, Jason, for putting your trust in me. Remember, if you have questions or would like more details on the mortgage process, please reach out. I'm happy to help.
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