A question that I get asked all the time is, “Why is your credit score different from the one I received from Credit Karma?” The answer has to do with the type of scoring models that are preferred within our industry. When it comes to their credit score, most consumers immediately think of the FICO… Continue Reading Credit Scoring-Don’t Confuse A Credit Score With A Credit Score Used for A Credit Decision
Buying your first home may seem like a completely daunting experience, between qualifying for credit and trying to secure the down payment. But what you may not realize is that there are state assistance programs available for first-time buyers in Florida. In fact, some counties have their own specific type of program and they are… Continue Reading Here’s the Scoop on Florida Down Payment Assistance Programs
Last October, a new five-page form called the Closing Disclosure was established to provide borrowers with a better understanding of the all of the details about their mortgage loan. This new Closing Disclosure form highlights the important terms of the loan, the projected monthly payments, and how much the borrower will pay in fees and… Continue Reading What Is the New Closing Disclosure Form And What Does It Do?
Using gift money for a mortgage down payment is more common than you may think, especially for first-time home buyers. This is an idea situation for someone who can afford the monthly payment but who may not yet have the required money for the down payment or closing costs. However, when it comes to details… Continue Reading Thinking of Applying A Down Payment Gift Towards A Home Loan? Here’s What’s Allowed and How To Do It.
Like attorneys and IRS agents, sometimes we mortgage bankers get a bad rap. We can of course lay claim to our share of bad apples, but I am particularly proud of the opportunities we at Van Dyk Mortgage provide borrowers. One opportunity in particular (that you won’t find with every lending institution!) is the opportunity… Continue Reading More Than Your Everyday Escrow