Housing Price Market Update with John Bloss

You’re probably sick of hearing about how great the market is and how you need to make your move now. Has anyone ever told you why you should make your move now? Interest rates and home prices are increasing, and with each increase, there is a decrease in your purchasing power.

Are you a first time homebuyer?

Are you a first time homebuyer?

Are you a first time homebuyer? Are you thinking of buying in the spring or summer? Now is the time to come and talk to us. We can help you with a strategy and make sure you’re approved. Find out more about how we can help you get ready to buy your first home!

4 Ways to Improve Your Credit

Welcome back! For the past few videos I’ve been telling you everything you CAN’T do, but now I have a list of different things you can do to improve your credit.

•    Join a credit program. It may have a slight cost, but these programs alert you when there are any unauthorized uses on your card. Stop any damage before it starts.

•    Make your payments on time. One missed car or mortgage payment can terminate the loan process immediately.

•    Use your credit normally. Continue to use your card and pay on time as normal, just don’t overcharge.

•    Keep in contact with loan originator. If you receive a collection letter or anything that you think may affect your credit, notify your lender immediately.

If you have any questions about how to improve your credit, give me a call. Thanks for watching!

More Credit Don'ts

Welcome back to my video bog! Last time I talked about things to avoid when you are applying for a mortgage. Well, I have a few more tips for you!

The first is do not go out and make new purchases. Just last week I had a couple that was all set for their loan. Then they cosigned for a relative’s car purchase. Because of that new $425 monthly payment, they were no longer approved for their loan. So, please do not go out and purchase a car, furniture or cosign for anyone!

Secondly, do not consolidate your credit cards. Some people think if they close their cards and consolidate to one payment their credit will be better. In reality, though, when you close a credit card, you lose all your credit history.

Thirdly, do not max out or overcharge your credit accounts. These two things can damage your credit by as much as 100 points. Plus, it can take months to untangle.

If you have any more questions about applying for a mortgage, please give me call! Thank you for watching!

Top Three Credit Don'ts

Hi everyone; welcome back to my video blog.

Today, I want to talk to you about the top three credit donts; things you should never do during the mortgage process because they can damage your credit and possibly prevent you from getting your home.

1.    Don’t apply for any new credit. Avoid the “you have been pre-approved” scams. Don’t apply for any new credit cards. Guard your social security number with your life.

2.    Don’t pay off collections or charge-offs. Looking at collections on your credit report can be embarrassing. A lot of people’s first reaction is to go and pay off any bad reports. Paying off a collection that is more than six months old can damage your credit by 20 to 50 points. This could completely knock you out of the box for any type of home mortgage financing.

3.    Do not close credit cards accounts. This may surprise you. When you close out your credit card accounts, you immediately lose the credit history or the depth involved with creating your credit score.

Help your loan officer and yourself by not doing anything crazy to your credit score. If you want my top 10 dos and donts of credit, please contact me on Facebook: Diamond Residential Mortgage.