QUESTION: How do you qualify for a mortgage with no credit? ANSWER: It is possible to obtain a mortgage if you have little or no credit, but you might need to look a little harder to find the right mortgage. Also, you might need to provide additional documentation to prove that you have a history of paying bills on time. It's important to remember that there's a difference between having poor credit and having no credit. With poor credit, you've had a few bumps and may have a

2020 was a unique year, to say the least. Although many people struggled with a loss of income and other challenges, the real estate market remained relatively stable across the nation. Although the arrival of the coronavirus in March of 2020 led to drops in real estate values, September saw evidence of a recovery with higher median home prices and fewer days spent on the market. According to real estate predictions, 2021 should continue this trend with a seller's mark

No doubt, a constant theme throughout the COVID-19 pandemic has been the housing market which has continued to gain steam. As we move into 2021, this skyrocket in sales and refinances is most likely going to continue. Here are several reasons why: - The pandemic has changed the way people buy homes. More buyers have turned to the internet due to present homeowners quarantining while trying to maintain social distancing. - People are waiting to list their homes until the

With the country dealing with the deadly COVID-19 pandemic, why is the housing market thriving? Even with the deadliest pandemic to hit the country in more than a century, the housing market has thrived due to the lowest mortgage rates ever recorded combined with a shift in how people are using their homes. The number one reason people sought to purchase homes was due to the low interest rates, but as people are working from home more, they seek bigger homes and care less abo

Traditionally, fall has been a much quieter season for homebuying. However, that changed with the onset of the novel coronavirus. Until the virus passes, we will continue to see record-low interest rates, more virtual home tours, a high buyer demand, and limited inventory. No doubt, this fall season will look much like a repeat of the spring. If you are in the market for a home, below are a few things to consider. 1. Be prepared to pay up: Due to the high demand for home purc

We are seeing the lowest mortgage rates in American history. Incredible opportunities are being afforded to millions of existing and would-be homeowners. Whether you're looking to refinance or purchase a home, today might represent a historic opportunity to save a lot of money by locking in on the best program and rate. Here are a few tips to getting the best mortgage program for you: Keep your credit healthy: There are many factors that go into qualifying for a mortgag

Homebuyers dream about saying those magic words -- "We're in escrow!" -- but might wonder what escrow means and what purpose it serves. Escrow is an important part of the mortgage and lending package, but understanding it can be tricky. Essentially, escrow serves as a middle ground between the buyer and the seller, where a third party holds onto the paperwork and money on their behalf until the transaction is complete. When you purchase a home, a portion of the money you prov

Millennials are one of the fastest-growing demographics in the housing market, and with this growth have come several changes to the way homes are bought and sold. With a higher household average income than previous generations have had in the last 50 years, millennials are shaping the modern home market in more ways than one. Here are a few things you should know about what millennials look for when buying a home and how their homebuying process looks different than other g

Although the underlying concern with COVID-19 remains a factor, buyers are still returning to their much-anticipated home searches. Here are a few things driving home sales: Supply: New listings continue to increase each week. Although sellers are listing homes at a slower pace than usual, homes are steadily returning to the market as consumer confidence continues to rise. Demand: Online search activity continues to rise as homebuyer's interest in home searches increase. Low

Curb appeal, or the look and feel of a house when looking at it from the street, tells homebuyers a lot about a home before they even walk through the front door. It can be helpful to think about curb appeal as a form of marketing because it helps sell the home from the outside and sets expectations about the rest of the house. When a home has curb appeal, it adds a certain "wow" factor that encourages buyers to learn more. After all, you want homebuyers to approach your hous

As the unofficial start of summer begins with the Memorial Day holiday, there are three trends worth following which may determine how the economy moves past the coronavirus. The reopening. Most states have begun to open up in some form. A few states have been open for weeks and have not yet seen a resurgence in cases, which if the trend continues, would be a great proxy for the rest of the country. Don't fight the Fed. Last Sunday on 60 Minutes, Fed Chairman Powell re

Communication is a valuable skill for most people, but none more so than real estate professionals. The most important communication skills to maintain with your clients are quick responses, active listening, and absolute clarity. Responding as quickly as possible to an email, text message, or phone call will help maintain a solid rapport and long-lasting relationship with your client. One best practice to implement is responding right away even if you don't have an a

Keeping a clean house is vital, but it doesn't have to be expensive or harmful to our health or the environment. And while recipes for homemade cleaners abound, the simplest ones seem to work the best and save the most money. The following household cleaners may require a little more elbow grease to get the job done, but you, your wallet, and Mother Nature will be glad that you made the extra effort. Baking soda – We all know that baking soda absorbs odors, especially in refr

Annual income aside, there's not a person among us who wouldn't welcome the idea of having more money in their savings account. This is the money we use on everything from yearly vacations to family presents. Come holiday time, wouldn't it be nice to have an extra thousand or so dollars at your disposal? Here are a few ideas that can help to make that possible. The best part is you'll hardly feel it! Bring Your Lunch to Work - The average person spends $6 when they buy their

As the sluggish economy drags on, county boards everywhere are looking for ways to replace lost income, and re-assessments of residential real estate taxes is just one of those ways. Sometimes it's fair, other times it avoids belt-tightening. If your property taxes have been raised and you feel it's unfair, here is how to prepare to meet your assessor for a review to lower them: 1. Look for reporting mistakes. Examine the assessor's entire property description. Note discrepan

After you find a home you want to purchase, protect your investment by scheduling a home inspection. If you have a real estate agent, you can ask about a highly recommended home inspector. Make sure you ask for references since not every state regulates or licenses home inspectors. You can also check the American Society for Home Inspectors, which trains inspectors and sets the standard for the industry, to find certified inspectors. A qualified home inspector will check out

Each year, millions of Americans move into the home of their dreams. As time goes by, families expand, kids grow older, and suddenly that home isn't quite so perfect anymore. Or perhaps you still love your home, but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead? Both options involve a significant investment of time and money, so it's important to take you

When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn’t have to change is the credit status you’ve worked so hard to achieve. Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing out of credit cards, and a total breakdown in communication frequently lead to the annihilation of at least one spouse’s credit. Depending upon how finances are str

Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances. Running a close second is the negative stigma which is often attached to the process. This negativity is important to mention because strong emotions can sometimes lead to unsound financial decisions with devastating results. Bankruptcy becomes a viable option for someone who is “upside down” in terms of cash flow. In other words, when a pers

If you’ve been watching the economic news, you’ve probably noticed that market experts and traders have been keeping a close eye on the Commerce Department’s Personal Spending and Personal Income reports. Obviously, those reports provide insight into the health of our economy, but did you know they also influence home loan rates? That’s right, personal spending can actually influence the interest rates that are available when you purchase or refinance a home. Here's why. It h