DFW Relocation

Shopping for the Right Mortgage Finding a mortgage that's right for you should be easy. But there are often many different programs to choose from, as well as a myriad of ways to structure the loan in terms of the amount, term, payment, rate, closing costs...the list of options may seem endless. However, because there are so many options available, it's important to seek advice from an experienced mortgage professional who has your best interest at heart. The first step in determining which program is right for you is to ask yourself the important questions listed below. These questions can also help you confirm that you've chosen the right mortgage professional as well, because he or she should be asking you the same questions before trying to put any mortgage in place: How long do you anticipate living in your home? Do you expect any changes over the next few years, such as expanding your family or having children go off to college or even move away? Do you expect any c...

1. Who can get the tax credit ? If you are a first-time home buyer purchasing a new home or a resale-you are eligible for the tax credit. The purchase must take place on or after January 1, 2009 and before December 1, 2009 to qualify for the tax credit . As it applies to the tax credit, the purchase date is the date when the home closes and the title to the property transfers to the home owner. 2. What is the definition of a first-time home buyer? The tax credit law defines a "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. If you are married, both spouses cannot have owned a home. For example, if you didn't own a home but your spouse did, you do not qualify. For unmarried purchasers, the credit amount can be given to any buyer who qualifies as a first-time buyer, for instance, if a parent jointly purchases a home with a son or daughter. If you owned a vacation home or rental property not use...

.....What your credit rating can say about you! What is a credit score and a credit report? Your credit score is simply a snapshot of your credit use. It's a brief overview of seven years of your borrowing history. Your credit report is the detailed rundown of your borrowing habits. Credit reports are provided by three major credit bureaus: Equifax, Experian, and TransUnion. How is a credit score calculated? A credit score is a value assigned to several criteria used in making lending decisions. Criteria include the amount you owe on non-mortgage related accounts such as credit cards, your payment history, and credit history. Scorers take this information from your credit report and plug it into formulas that calculate a value representing the amount of risk you pose to a lender. That value takes into account the track record of other consumers with similar credit profiles. By looking at this value, or score, lenders are able to roughly gage whether it's a good idea to extend...