At some point in our lives, we have used credit. Whether it was to buy a car, to pay for an education, or as more of a convenience while shopping at the store. When applying for a mortgage loan, your lender looks at your credit score, credit utilization, and payment history to determine whether to ... Continue Reading » about Revolving Credit, Installment Credit, And Mortgage Approval
Buyers - Mortgage and Money
Questions a Loan Officer Will Ask You
Whether buying your first Tulsa home or your fifth one, you will most likely deal with a loan officer at some point. They need certain information to help them lead you toward the right programs for your home purchase. That means asking you many questions. Here are a few of the main questions your ... Continue Reading » about Questions a Loan Officer Will Ask You
Using Home Equity to Buy a Second House
Over the past year, Tulsa home prices saw a steady climb. You may have even made some improvements to increase your home's value (and, thus, your equity) since you bought it. Many sellers in today's Tulsa real estate market cash in their equity to buy a new home. Others contemplate using their home ... Continue Reading » about Using Home Equity to Buy a Second House
Pre-Approval vs. Pre-Qualification
Money is one of the biggest concerns for home buyers. Can we afford a home? How much can we afford? Will we even be approved for a mortgage loan? In the past, a pre-qualification appointment with your lender proved sufficient to start the house-hunting process. However, in today's market, most ... Continue Reading » about Pre-Approval vs. Pre-Qualification
How to Avoid Being a “House Poor” Tulsa Homeowner
Buying a Tulsa home is exciting, whether it's your first one or your 21st one. Seeking out a new abode really gets the adrenaline pumping. When your lender approves you for a higher amount than you expected, you might feel like swinging for the fences and looking at properties you may not have ... Continue Reading » about How to Avoid Being a “House Poor” Tulsa Homeowner
Buying a Home In As-Is Condition When Financing is Involved
A home buyer may not have the option of buying a home in as-is condition when financing is involved. Remember that the property itself is the bank’s collateral, and they want to ensure that it is in good condition. Whether you are purchasing a home in as-is condition or not, every home buyer will ... Continue Reading » about Buying a Home In As-Is Condition When Financing is Involved
