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It’s often said that things improve with age. A lot of people don’t realize that this is also true as it pertains to your credit score. Credit scores don’t take age into consideration, however approximately 50% of a credit score is based on length of credit history and payment history.
We’ve all heard how important our credit score is. But have you really thought about the lasting effects it could have on your future ability to borrow? Have you taken the time to monitor your credit reports and really understand what they mean? We’re here to help break it down for you!
Don’t get overwhelmed by your next move. Creating a moving plan and executing it in advance can save you time, money, and stress.
For many people, homeownership is synonymous with the American Dream. It’s also one of the biggest financial decisions they will ever make, which can be daunting. So, how do you really know when it’s time to make the jump and purchase a home? One thing you can do is take stock of the benefits of homeownership and decide if they make sense given your current situation. Sure there are additional costs, like regular upkeep and unexpected repairs, but often times the benefits outweigh the associated costs. Here are a few.
You’ve finally found the perfect home, put in an offer, and had your offer accepted. Congratulations, you’ve bought a new home! Almost.
Buying your first home is a big decision, but the process doesn’t need to be a daunting one. Taking the time to ask yourself these ten key questions and doing your research prior to your home purchase can assist in taking stress out of the buying process.
If you're in the market for a new home, it's easy to only focus on two figures: 1) the asking price and 2) the down payment. But there's another number you should factor into your home buying budget – mortgage closing costs.
Searching for the perfect home can be exhausting, especially when none of the online virtual tours come close to your design preferences or budgetary needs. Many home shoppers realize that getting their dream home might mean building their dream home.
If you're in the market for a new home, submitting a mortgage loan application should top your to-do list. Unless you plan on paying cash, you'll want to know upfront how much you qualify for and at what interest rate and terms. This could quickly help narrow your home search and ensure you find a loan that fits your budget. But if you don't have the documents ready to submit with your mortgage loan application, it could cause unnecessary delays.
After careful thought and planning, you’ve decided to take the plunge into home ownership. You have a pretty good idea in which area you want to buy and are about to start interviewing Realtors. At this point, many first-time homebuyers pause and ask themselves, “What exactly is the first step I should take when buying a home?” At ENB, we recommend setting up a meeting with a Mortgage Expert to discuss prequalification.
