If you are considering buying a home in St. Louis, then you may be more than a little confused by all of the terms you hear about home loans. After all, lenders throw around words like fixed rate, balloon mortgages and adjustable rate mortgages without a thought. But if you aren’t at least familiar with […]
You have found your dream home, made an offer, and they accepted. Congratulations! Now it’s time for the real work to begin. Beyond researching the title on the property, you should seriously consider having a survey of the property conducted even if it is not mandatory by the title company. What is a Survey? A […]
In my last blog, I explained why your credit score is so important. After receiving quite a few questions on the subject from readers, this week’s entry is on clearing up some of the most common credit score myths. Myth #1: “I know I have great credit because I pay my bills on time and […]
If you are thinking about applying for a mortgage in order to purchase a home, you are going to become quite familiar with your credit score and why it is so important to lenders. When applying for credit, lenders will check your credit score to see how good it is. A credit score is a […]
1. Affordability According to the National Association of Realtors’ housing affordability index, housing affordability will be at its highest in a generation this year. The affordability index is comprised of median home prices, median family income, and the prevailing mortgage rate. An index of 100 implies that a median income family has just enough income […]
