Explaining How Earnest Money Works

Explaining How Earnest Money Works

Earnest money is a deposit made by the buyer upfront when purchasing a home. It is often referred to as a good faith payment, demonstrating to the seller your serious intent to purchase the property once certain conditions are satisfied. To safeguard the deposit, a...
Credit Scores and Mortgages

Credit Scores and Mortgages

As you probably know, your credit score plays a crucial role in your ability to buy a home. But most people don’t know how much it impacts their monthly payments and the total amount they’ll spend on their mortgage.  Not only does it help you qualify for a mortgage,...
How FICO Scores are Calculated

How FICO Scores are Calculated

Your FICO credit score is important when considering buying a home. High scores can qualify for loan packages with lower interest rates, which can increase your borrowing power and lower your monthly payments. If you have a less-than-perfect credit score, you still...
Financing – Pre-Qualified vs. Pre-Approved

Financing – Pre-Qualified vs. Pre-Approved

When it comes to obtaining a mortgage, it’s important to understand the difference between getting pre-qualified and getting pre-approved. While these terms are often used interchangeably, they actually refer to two distinct steps in the loan approval process....