The Top 10 Credit Do’s And Don’ts During the Loan Process

The following are some helpful tips to avoid the credit mistakes that many borrowers make during the loan process: 1. DON’T APPLY FOR NEW CREDIT OF ANY KIND, including those “You have been pre-approved” credit card invitations that you receive in the mail. Every time that you have your credit pulled by a potential creditor… Continue Reading The Top 10 Credit Do’s And Don’ts During the Loan Process

Mortgage Glossary

A Acceleration clause: a provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance when the first monthly payment is missed. Adjustable-rate mortgage (ARM): a mortgage that permits the lender to adjust its interest rate periodically on the basis of changes in a specified index. Amenity: a… Continue Reading Mortgage Glossary