Down Payment – How Much Do You Need To Save?

Kate MarroneFirst Time Homebuyer Info, Info on Home Financing Leave a Comment

What’s the #1 thing that prevents first timers from buying sooner?  You guessed it!  Saving for a down payment. It’s no secret that saving 20% can take a while… after all, it’s tens of thousands of dollars of your hard earned money. So what to do when it seems like you’ll never get there?   This great article from the …

Why Care About Credit Anyway?

Kate MarroneInfo for Home Buyers, Info on Home Financing Leave a Comment

Why care about your credit score, anyway? If you’re considering purchasing a home, here’s an example of the impact different credit scores can make on your interest rates… which translates to your monthly payments… which dictates the price of the home you can afford. Example: 719 credit score $1,900/month for Home “A” -40 679 credit score +$60 $1,960/mo for same …

Recipe for a “healthy” credit report

Kate MarroneInfo for Home Buyers, Info on Home Financing

What does a “healthy” credit report look like? I’ve read very similar opinions on the “ideal” credit report from a variety of courses including Money magazine, the free annual credit report website, a few different finance books, Kiplinger’s, and others.  The general consensus from experts regarding a “healthy” credit report is as follows: 2 installment loans – home mortgage and …

What is a Credit Score?

Kate MarroneInfo on Home Financing

What is a Credit Score? Your credit score is a number between 300 and 850.  This number represents the statistical likelihood that you will repay creditors.  Your score is based on 5 different areas, with some parts carrying more weight than others. 1.  Your payment history – makes up 35% of your credit score Do you pay your accounts on …

How to Review a Title Commitment… by Title Co. of the Rockies

Kate MarroneFirst Time Homebuyer Info, Info on Real Estate Transactions Leave a Comment

The link below will direct you to a great page by page guide to Title Commitment provided by Title Company of the Rockies.  Title Commitment is one of the first documents you will receive, as a buyer or a seller, after going Under Contract.  This primer breaks down each section of the document to help you understand what it all …