If you're a permanent resident alien, you'll need your social security number and valid green card. At Cliffco Mortgage your mortgage application process will be very similar to that of US citizens.
1. Reduce your credit card balances.
2. Have friends or family with great credit add you to their accounts with unused credit balances as an authorized user. This will increase your unused credit balance.
3. Erase credit report errors with a rapid re-scorer.
Mortgage terms last a long time and like anything else in life, circumstances can change over the term of your loan. In some cases, you might be missing payments or are worried that you soon might not have the ability to meet your obligation. Sometimes the value of the property is below what you owe on the loan. In situations like these, homeowners may consider a “short sale” of the property. These sales can help sellers get out from under a challenging mortgage and they can benefit homebuyers by giving them a better deal on a short sale home purchase than they might otherwise get in more traditional markets. Cliffco Mortgage Bankers wants our customers to understand short sales and all aspects of the real estate market.
When you’re buying a home, is it your goal to pay off your mortgage loan as quickly as possible? It is, but there’s one thing you need to always keep in mind, you can’t predict the future. Mortgages usually last a long time and everyone’s financial situation changes over time. We all go through periods of prosperity and we all hit rough patches. Whatever your circumstances are at a given time, you’re going to have to make your payment. So you need to decide between a short-term or long-term mortgage. Cliffco Mortgage Bankers can help you with that decision.
It’s called the Keystone State. According to the Old Farmer’s Almanac, Pennsylvania got this nickname because of its geographical location on the East Coast. When builders create an arch, the keystone is the wedge-shaped stone that supports all of the other stones and holds them in place. Pennsylvania was located in the geographic center of the 13 original states just like a keystone.
Should you stay or should you go? It’s a question a lot of homeowners ask and there’s a lot of money riding on the answer. The question refers to moving versus renovating or remodeling. If your home needs work, or if you’ve outgrown it, does it make more sense to put your home up for sale or to do a renovation? The answer can have a tremendous impact on your finances. For example, if you move, you may be in the market for a new mortgage. If you do the renovation, you might need help paying for it. Either way, Cliffco Mortgage Bankers can help you put together the loan you need for whatever you decide.
There’s no single path to becoming a homeowner. Sometimes potential buyers know exactly the type of home they want, what town or neighborhood they want to be in and they know exactly what they can afford. For these buyers, qualifying for a mortgage isn’t usually that difficult. But for many people looking to achieve the dream of home ownership, qualifying for a mortgage isn’t always easy.
It’s hard to go anywhere these days without hearing something about reverse mortgages. You’ll see ads about them on TV at all hours of the day and you’ll also see a lot of information online about these loans. Sometimes it seems that there can be information overload. At Cliffco Mortgage Bankers we often answer questions from our clients about reverse mortgages and we want you to understand how they work so you can decide if a reverse mortgage is right for you.
If you’re looking to buy property, here in the northeast or anywhere else, one of the first and best pieces of advice you’ll almost certainly hear is to know the real estate market where you’re trying to buy. The more information you discover about what property is selling for in a particular market and the more you get a sense of where a real estate market is headed in the near future, the better you’ll do when it’s time to negotiate a price.
If you’re a senior or if you’re approaching retirement age you probably have a lot of concerns. Do I have enough income? Where will I live? Will I be a burden to my children? Being able to stay in your home or finding affordable housing is one of the biggest issues facing many seniors. At Cliffco Mortgage Bankers, we’re dedicated to helping all of our clients find the loans they need for housing, be it a property purchase, or financing they need to stay in their homes.
It’s one of the questions we’re most often asked at Cliffco Mortgage Bankers: “Should I refinance my mortgage?” The answer isn’t the same for everybody. There are times when it makes financial sense to refinance a mortgage and there are also situations where you’ll end up paying out more than you should. The answer depends on each individual case.
It’s the season of renewal and spring is an excellent time to take control of home improvement projects and renovations. There are plenty of reasons why you’d want to tackle home renovations this time of year. Sometimes it may just be because there’s work on the home that just needs to get done. You might have needed repairs or you may have maintenance to do. Or you simply might want to undertake a larger renovation or a project like adding a new room or extension.