Your credit score is really important in determining your interest rate on your home loan especially if you live on Long Island. Most of us have at least one credit card. For many people, credit cards are a necessary evil that allows us to afford purchases we otherwise might not be able to (whether that purchase is a splurge or an unavoidable emergency expense). Credit cards let us live beyond our means, which at times can be a good thing, but can become problematic if handled irresponsibly. Cliffco Mortgage Bankers has the top five ways you can be responsible with your credit cards. [Read more…]
As most lenders will tell you, it’s a good time to refinance your home and take advantage of low-interest rates particularly if you live on Long Island. Part of the refinance process includes having your property value assessed by a licensed home appraiser. This individual will visit your home and evaluate the interior and exterior condition to determine its worth in today’s real estate market. Since this assessment has a major impact on the loan amount you’ll qualify for, it’s a good idea to take all the legal and ethical steps you can in order to get the highest appraisal amount possible. Here are five tips from Cliffco Mortgage Bankers to help make that happen. [Read more…]
If you live on Long Island and you’re thinking of refinancing your mortgage, it’s important to thoroughly research the pros and cons. In doing so, you may discover that a mortgage refinance can positively impact your financial standing and your bottom line. Let’s discuss the many ways a refinance may be able to help you. [Read more…]
One thing we do well as Americans is to help those who served finance the American Dream. Unfortunately, there is a lack of education and understanding about the VA Mortgage Program among real estate professionals and veterans alike.
Here are seven of the biggest benefits of VA mortgages:
Credit is a crucial component to more than your mortgage application. Your credit score impacts almost every financial aspect of our lives from credit cards to insurance costs. Cliffco Mortgage Bankers has some credit score tips you should keep in mind to keep your score at its optimal best.
Homebuyers who buy an older home or foreclosure often are frustrated by the difficulty of financing necessary repairs and renovations. However, a Federal Housing Administration (FHA) home loan program may offer assistance.
A 203(k) Rehabilitation Loan dealing with the Mortgage Insurance Program allows borrowers to wrap the cost of repairs and improvements into their home financing. This loan option is ideal for borrowers who are interested in buying a property that needs repairs or would benefit from remodeling. It is also ideal for homeowners that need funds to rehabilitate/remodel their property.
Which type of 203K Loan is right for you?