We’ve teamed up with Leah Odom, the Senior Loan Officer at the Carolina One Mortgage office here on James Island, to get you more information about financing a home – home loans/mortgages, interest rates, credit scores, and tips for getting the loan you need.
This category currently has 21 blog entries.
Private Mortgage Insurance (PMI) is an insurance policy the borrower pays for which protects the lender in case of foreclosure. You’ve probably heard about PMI before, since most loans over 80% usually require PMI. It has actually got...
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One of the most important parts of choosing a lender is usually the last thing people think of. Make sure that the lender you choose is actually going to have the money at the closing table. Believe it or not, this has been one of the bigge...
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The best advice I can give is to own your credit report. And, make sure it’s accurate before it gets pulled by a lender. There are several websites available to help you check your credit. For example, Equifax.com allows you to s...
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What credit score do you need to buy a home? The credit score you need largely depends on which home loan you choose. For example, with FHA loans, no credit score is even required. There is a magic myth that rates change everyday....
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There has been a lot of talk recently that the Federal Reserve lowered interest rates. This is not for mortgage rates, though – it’s for short term lending rates. In our business of home mortgages, it affects home equity lines o...
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A lot of buyers hear that you can’t get 100% financing anymore. However, it is still possible to get 100% financing, which in short means no down payment. There are three options available to buyers for 100% financing: 1) FHA loan...
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“Indeed, as we go forward, there seems to be a lot of room for consensus and common ground for minimizing the impact of the correction on homeowners, communities, and the economy. The notion seems pretty fundamental in this country tha...
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“So, looking back, we know what led up to the housing correction – risky lending chasing rising home prices fueling more risky lending – until the bubble burst. Looking at the situation now, there are some short-term remedies t...
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