Archive | July, 2015

Good Credit History: It’s Essential

Credit-historyMaintaining a good credit history is essential to your ability to purchase a home, get a car loan, borrow money for other purchases, take out insurance, rent an apartment, even get a job. For all these reasons, it is very important to monitor your credit history on a regular basis. Everyone is entitled to receive a free copy of their credit report each year from the 3 main credit reporting agencies: Experian, TransUnion and Equifax. You can get your free copies at:

Review the report from each of the reporting agencies (they can differ). Do this every year even if you are not in the market for new credit. It can help guard against identity theft and also help you prepare for the day you do need to take out a mortgage, refinance, buy a car, etc. Review the reports for accuracy. Read More

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How To Choose A Lender

iStock_000056690830_choosing a lender_Medium_600x400Once you have figured out which mortgage product – fixed rate or adjustable rate mortgage – is best for you, and whether or not to pay points, you are ready to begin comparison shopping for a lender. Interest rates, of course, are the first point of comparison. Be sure to compare apples-to-apples” — i.e. similar products at different institutions. Keep in mind that the advertised interest rate is only one measure of the cost of the loan. A better point of comparison might be the Annual Percentage Rate (APR) which is a measure of the total cost of credit, expressed as a nominal yearly rate. Read More

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