Mortgage | All posts archived in 'July 2019' — Page
Menu

More on Mortgage

From monthly archives: July 2019

We are pleased to present below all posts archived in 'July 2019'. If you still can't find what you are looking for, try using the search box.

Seven Ways to Boost Your Credit Score

For many, the summer is the best time of the year to buy a new home. Plus, rates are currently at a two-year low, so now is a great time to buy! First Bank Mortgage would like to remind clients of the importance of knowing their credit score before shopping for a new home. Whether you’re renting or buying, your credit score is significant. It is important for you to responsibly manage your debt levels and maintain good credit reports so that you are more attractive to mortgage lenders. First Bank Mortgage suggests the following tips to improve your credit score: Request a copy of your credit score report – and make sure it is correct. Your credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other loans, such as a mortgage. Everyone is entitled to receive a free copy of his or her credit report annually from each of the three credit reporting agencies, but you must go through the Federal Trade Commission’s website at www.annualc ...

Five Important Questions When Choosing Your First Home

Moving into a new home can be exciting and frightening at the same time. The American Bankers Association suggests considering the following questions when choosing your own home. How much money do you have saved up? Start with an evaluation of your financial health. Figure out how much money you have for a down payment or deposit on a rental. Down payments are typically 5 to 20 percent of the price of the home. Security deposits on rentals are usually about one month of rent and more if you have a pet. But, be sure to keep enough in savings for an emergency fund. It’s a good idea to have three to six months of living expenses to cover unexpected costs. How much debt do you have? Consider all of your current and expected financial obligations like your car payment and insurance, credit card debt, and student loans. Make sure you will be able to make all the payments in addition to the cost of your new home. Aim to keep total rent or mortgage payments plus utilities to less than 25 to 30 ...

Archive

Disclosure

All First Bank blog information and content is strictly informational. It is not intended to be specific investment, tax, or legal advice. If you need detailed financial, investment, or tax advice, please contact a First Bank qualified professional. Please note, First Bank occasionally shares third-party content we find to be relevant and helpful to our audiences.