How the New FICO “Resilience” Credit Score Could Help Borrowers

by mylenderjackie | Feb 15, 2021 | Credit

While some businesses are still shut down or running at much less capacity the economy across the country has seen a high number of unemployment. The Fair Isaac Corp., more commonly known as FICO, the producer of the FICO credit score and a global analytics company,...

5 Things Not to Say When Applying for a Mortgage

by mylenderjackie | Feb 8, 2021 | Buying

Though mortgage rates are phenomenally low right now, the standard qualifications for mortgages have become more strict. There are many more things that set off red flags with lenders since the COVID pandemic began. When applying for a mortgage loan you want to give...

Pros and Cons of Applying for a Mortgage Without Your Spouse

by mylenderjackie | Feb 1, 2021 | Purchasing a Home

Married couples who are refinancing their home or purchasing a new one do not have to include both people on the mortgage. In some cases, including both spouses on the paperwork can cause more setbacks. The most common setback is when one spouse has a significantly...

How to Get a Mortgage After Foreclosure

by mylenderjackie | Jan 18, 2021 | Credit

Going through a foreclosure is no small deal and it is not an easy one either. Many past homeowners begin to give up hope of ever owning a home again after they have been through a foreclosure, but there is a chance you can qualify for a home loan again. It is...

Can I Use an FHA 203(k) Loan to Purchase a Fixer Upper

by mylenderjackie | Jan 12, 2021 | Loan Documents

Purchasing a property in need of repair can be a good way to save some money on a home that has all of the attributes you really want and the potential to become something you love. How will you pay for the repair work to make it into the home of your dreams? An FHA...

What Does the New Refinance Fee Mean for Borrowers?

by mylenderjackie | Dec 28, 2020 | Refinance Your Home Loan

The Federal Housing Finance Agency “adverse market” half percent fee on a majority of mortgage refinances officially went into effect on December 1, 2020. For those already in the process of refinancing this fee has been built into your refinance rate. If you are...

Is it Wise to Buy a Car Using a Home Equity Loan

by mylenderjackie | Dec 14, 2020 | Blog

Is it Wise to Buy a Car Using a Home Equity Loan – The most common way that people purchase a car is through a traditional home loan, but some people do choose to finance a car using a home equity loan. What is the better way to go? Is it a good idea to use a...

What is a Second Mortgage?

by mylenderjackie | Nov 30, 2020 | Loan Programs

A second mortgage, which is sometimes called a junior lien, can be an option for turning your equity into available funds without having to sell the home. A second mortgage will increase your debt amount. It is considered a second mortgage because if the home should...

Is Refinancing from an FHA Loan to a Conventional Loan an Good Idea?

by mylenderjackie | Nov 23, 2020 | Refinance Your Home Loan

With Interest rates remaining at historic lows, some homeowners with FHA loans are considering switching over to a conventional loan. Switching can bring some positive changes like a lower payment, less interest, and the chance to get rid of mortgage insurance. In...

Today’s Financing Options That Will Save Homeowners from Foreclosure

by mylenderjackie | Nov 9, 2020 | Homeownership

At the beginning and even towards the middle of the pandemic-causing shifts in the housing market many real estate market experts voiced concerns over mortgage forbearance programs and the impact it would have when it came time for homeowners to pay them off. They...