5 days of Credit Scoring Tips - Day 3What makes up a credit score?35% Payment history30% Amounts owed15% Length of credit10% New credit (past 12 to 18 months, looking at number of inquiries and opening dates on accounts)10% Credit mix Percentage of installment debt, percentage of revolving debt (installments can raise scores/revolving can decrease) and loans from finance companies (the more finance loans lowers the score)#credittips #creditrepair #credithomeloans ... See MoreSee Less
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❗🏡 𝗡𝗲𝘄 𝗰𝗼𝗻𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗹𝗼𝗮𝗻 𝗹𝗶𝗺𝗶𝘁𝘀 𝗳𝗼𝗿 𝗙𝗮𝗻𝗻𝗶𝗲 𝗠𝗮𝗲 𝗮𝗻𝗱 𝗙𝗿𝗲𝗱𝗱𝗶𝗲 𝗠𝗮𝗰 𝗺𝗮𝘆 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗾𝘂𝗮𝗹𝗶𝗳𝘆 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗵𝗼𝗺𝗲! 😀Today's news means you may be able to qualify for 𝗺𝗼𝗿𝗲 𝗵𝗼𝗺𝗲 𝗮𝘁 𝗮 𝗹𝗼𝘄𝗲𝗿 𝗿𝗮𝘁𝗲, because a "conforming" loan often has a better rate than a "jumbo" loan that you would normally need for higher mortgage amounts.The conforming loan amount is going from $647,200 to $726,200 in 2023. Some areas of the country qualify for even higher limits, sometimes as high as $1,089,300!👉 𝗜𝗳 𝘆𝗼𝘂'𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗵𝗼𝘄 𝘁𝗵𝗮𝘁 𝗮𝗳𝗳𝗲𝗰𝘁𝘀 𝘆𝗼𝘂, 𝗹𝗲𝘁 𝗺𝗲 𝗸𝗻𝗼𝘄 𝗮𝗻𝗱 𝗜'𝗹𝗹 𝗯𝗲 𝗴𝗹𝗮𝗱 𝘁𝗼 𝗴𝗼 𝗼𝘃𝗲𝗿 𝗶𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂.𝗥𝗲𝗺𝗲𝗺𝗯𝗲𝗿, 𝗶𝗳 𝘆𝗼𝘂'𝗿𝗲 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲 𝗼𝗿 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴, 𝗜'𝗺 𝗵𝗲𝗿𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽. ... See MoreSee Less
5 days of Credit Scoring Tips - Day 2Factors considered for a person's credit score are the types of credit they have, how much new credit they have, the length of their credit history, the amount they owe, and their payment history. By far, the amount they owe and payment history are the biggest factors.Companies must always be mindful that what they report about a person's credit will impact their credit score. In turn, this affects their ability to obtain credit financing, which affects their daily life. ... See MoreSee Less
🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟴, 𝟮𝟬𝟮𝟮𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍 With traders taking the second half of the week off, average mortgage rates ended last week's holiday shortened week at basically the same level as the previous week.𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 𝗯𝘂𝘁 𝗰𝗼𝘂𝗹𝗱 𝘀𝗲𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 👍 There are two economic reports this week that could affect mortgage rates, the PCE inflation report and jobs data. It isn't too likely that we will get any surprises on the reports that could push rates significantly higher or lower, but we could see some smaller movement. The overall outlook though is still good for rates, and that rates should remain stable heading into next month's Fed meeting.🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:- Economic data: On Thursday we will get the Fed's favorite gauge of inflation, the PCE inflation report. If it shows inflation is decreasing, like we saw with the CPI inflation report a couple of weeks ago, it could help mortgage rates remain at these levels or move slightly lower. On Friday we will get jobs data, and a strong report could pressure rates, while a weaker report could help mortgage rates.- The Fed: Fed Chair Jerome Powell is speaking on Wednesday, and is expected to confirm a slower pace of future Fed rate hikes, which is good for rates.#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
5 days of Credit Scoring Tips - Day 1Credit scores range from approximately 300 to 850 points; the higher the score the lower the risk of default. The score measures the relative degree of risk a potential borrower represents to the lender or investor for repayment of a debt. The score is calculated by the repository software being utilized to create a credit report and is based solely on the positive and negative data in that individual's file at the repository. The repository scorecards use up to 40 different variables to determine the risk score given to a consumer. The score is based on all the credit-related data in the report—not just negative.#Icanhelpyou #creditscore #creditrepair ... See MoreSee Less
New 5.0-star Review: "" ... See MoreSee Less
Happy Thanksgiving from our Monroe Norcom Branch to you and your family! You have all made a difference in our lives and we cannot thank you enough! ... See MoreSee Less
There's nothing we can't handle here at Norcom Monroe branch! Greg had some hiccups w/the property needing some work, He almost gave up on this dream BUT Audra Santos' & team quickly went into Action-Got him into a VA Rehab loan, worked closely w/a licensed contractor of his choice & STILL met his desired closing date! Right before the Holidays, We couldn't be happier to see this all the way through! 🤩#WeMakeHomesHappen Valerie DaCostaCongratulations to Greg for closing on his new home! Shout out to Audra Santos Community Trust Lending Team, Mortgage Lender NMLS #49570 for making this home happen! #wemakehomeshappen ... See MoreSee Less
What is a fixed rate? #MortgageGlossary ... See MoreSee Less
🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟭, 𝟮𝟬𝟮𝟮𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍 After dropping significantly the previous week, average mortgage rates last week were basically unchanged, and moved very little day to day despite economic and job data that showed the economy remains resilient and is not yet slowing down. Often strong data like we saw would have turned into slightly higher mortgage rates, but didn't this time.𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗺𝗮𝗶𝗻 𝗻𝗲𝗮𝗿 𝘁𝗵𝗲𝘀𝗲 𝗹𝗲𝘃𝗲𝗹𝘀 👍This week, mortgage rates are likely to remain at or near the current levels through the holiday shortened week, with very little going on in the markets to cause much concern.🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:- Economic data: The only day that we have any significant economic data is Wednesday, but rates shouldn't be largely affected.- The Fed: Mortgage rates are reacting to the speculation of when and how much the Fed will hike policy rates to end 2022 and into the meetings in 2023. The minutes from last month's Fed meeting come out on Wednesday, but aren't expected to cause any surprises for rates.- Thanksgiving: Markets will be closed Thursday and will close early on Friday. Most lenders will do the same, and rates are not likely to move between Wednesday and the following Monday.#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
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5 days of Credit Scoring Tips - Day 3
What makes up a credit score?
35% Payment history
30% Amounts owed
15% Length of credit
10% New credit (past 12 to 18 months, looking at number of inquiries and opening dates on accounts)
10% Credit mix Percentage of installment debt, percentage of revolving debt (installments can raise scores/revolving can decrease) and loans from finance companies (the more finance loans lowers the score)
#credittips #creditrepair #credithomeloans ... See MoreSee Less
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❗🏡 𝗡𝗲𝘄 𝗰𝗼𝗻𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗹𝗼𝗮𝗻 𝗹𝗶𝗺𝗶𝘁𝘀 𝗳𝗼𝗿 𝗙𝗮𝗻𝗻𝗶𝗲 𝗠𝗮𝗲 𝗮𝗻𝗱 𝗙𝗿𝗲𝗱𝗱𝗶𝗲 𝗠𝗮𝗰 𝗺𝗮𝘆 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗾𝘂𝗮𝗹𝗶𝗳𝘆 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗵𝗼𝗺𝗲! 😀
Today's news means you may be able to qualify for 𝗺𝗼𝗿𝗲 𝗵𝗼𝗺𝗲 𝗮𝘁 𝗮 𝗹𝗼𝘄𝗲𝗿 𝗿𝗮𝘁𝗲, because a "conforming" loan often has a better rate than a "jumbo" loan that you would normally need for higher mortgage amounts.
The conforming loan amount is going from $647,200 to $726,200 in 2023. Some areas of the country qualify for even higher limits, sometimes as high as $1,089,300!
👉 𝗜𝗳 𝘆𝗼𝘂'𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗵𝗼𝘄 𝘁𝗵𝗮𝘁 𝗮𝗳𝗳𝗲𝗰𝘁𝘀 𝘆𝗼𝘂, 𝗹𝗲𝘁 𝗺𝗲 𝗸𝗻𝗼𝘄 𝗮𝗻𝗱 𝗜'𝗹𝗹 𝗯𝗲 𝗴𝗹𝗮𝗱 𝘁𝗼 𝗴𝗼 𝗼𝘃𝗲𝗿 𝗶𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂.
𝗥𝗲𝗺𝗲𝗺𝗯𝗲𝗿, 𝗶𝗳 𝘆𝗼𝘂'𝗿𝗲 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲 𝗼𝗿 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴, 𝗜'𝗺 𝗵𝗲𝗿𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽. ... See MoreSee Less
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5 days of Credit Scoring Tips - Day 2
Factors considered for a person's credit score are the types of credit they have, how much new credit they have, the length of their credit history, the amount they owe, and their payment history. By far, the amount they owe and payment history are the biggest factors.
Companies must always be mindful that what they report about a person's credit will impact their credit score. In turn, this affects their ability to obtain credit financing, which affects their daily life. ... See MoreSee Less
Comment on Facebook
🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟴, 𝟮𝟬𝟮𝟮
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
With traders taking the second half of the week off, average mortgage rates ended last week's holiday shortened week at basically the same level as the previous week.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 𝗯𝘂𝘁 𝗰𝗼𝘂𝗹𝗱 𝘀𝗲𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 👍
There are two economic reports this week that could affect mortgage rates, the PCE inflation report and jobs data. It isn't too likely that we will get any surprises on the reports that could push rates significantly higher or lower, but we could see some smaller movement. The overall outlook though is still good for rates, and that rates should remain stable heading into next month's Fed meeting.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: On Thursday we will get the Fed's favorite gauge of inflation, the PCE inflation report. If it shows inflation is decreasing, like we saw with the CPI inflation report a couple of weeks ago, it could help mortgage rates remain at these levels or move slightly lower. On Friday we will get jobs data, and a strong report could pressure rates, while a weaker report could help mortgage rates.
- The Fed: Fed Chair Jerome Powell is speaking on Wednesday, and is expected to confirm a slower pace of future Fed rate hikes, which is good for rates.
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
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5 days of Credit Scoring Tips - Day 1
Credit scores range from approximately 300 to 850 points; the higher the score the lower the risk of default. The score measures the relative degree of risk a potential borrower represents to the lender or investor for repayment of a debt. The score is calculated by the repository software being utilized to create a credit report and is based solely on the positive and negative data in that individual's file at the repository. The repository scorecards use up to 40 different variables to determine the risk score given to a consumer. The score is based on all the credit-related data in the report—not just negative.
#Icanhelpyou #creditscore #creditrepair ... See MoreSee Less
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New 5.0-star Review: "" ... See MoreSee Less
Comment on Facebook
Happy Thanksgiving from our Monroe Norcom Branch to you and your family! You have all made a difference in our lives and we cannot thank you enough! ... See MoreSee Less
Comment on Facebook
There's nothing we can't handle here at Norcom Monroe branch! Greg had some hiccups w/the property needing some work, He almost gave up on this dream BUT Audra Santos' & team quickly went into Action-Got him into a VA Rehab loan, worked closely w/a licensed contractor of his choice & STILL met his desired closing date! Right before the Holidays, We couldn't be happier to see this all the way through! 🤩#WeMakeHomesHappen Valerie DaCostaCongratulations to Greg for closing on his new home! Shout out to Audra Santos Community Trust Lending Team, Mortgage Lender NMLS #49570 for making this home happen! #wemakehomeshappen ... See MoreSee Less
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What is a fixed rate? #MortgageGlossary ... See MoreSee Less
Comment on Facebook
🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟭, 𝟮𝟬𝟮𝟮
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
After dropping significantly the previous week, average mortgage rates last week were basically unchanged, and moved very little day to day despite economic and job data that showed the economy remains resilient and is not yet slowing down. Often strong data like we saw would have turned into slightly higher mortgage rates, but didn't this time.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗺𝗮𝗶𝗻 𝗻𝗲𝗮𝗿 𝘁𝗵𝗲𝘀𝗲 𝗹𝗲𝘃𝗲𝗹𝘀 👍
This week, mortgage rates are likely to remain at or near the current levels through the holiday shortened week, with very little going on in the markets to cause much concern.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: The only day that we have any significant economic data is Wednesday, but rates shouldn't be largely affected.
- The Fed: Mortgage rates are reacting to the speculation of when and how much the Fed will hike policy rates to end 2022 and into the meetings in 2023. The minutes from last month's Fed meeting come out on Wednesday, but aren't expected to cause any surprises for rates.
- Thanksgiving: Markets will be closed Thursday and will close early on Friday. Most lenders will do the same, and rates are not likely to move between Wednesday and the following Monday.
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance ... See MoreSee Less
Comment on Facebook