Cheryl Karr - Your Solid Source Realty Agent

    If you would like to refinance your current home loan but lack the credit score to snag a low rate, this article is for you. Here, we'll suggest ways you can improve your current interest rate, even if your credit is less than perfect. Can you refinance your mortgage with bad credit? The short answer is maybe. It's certainly not out of the question. If you're looking for a conventional refinance, you'll likely need a credit score of 620 or higher. Don't let that discourage you if you're not quite there, though. A mortgage lender will also consider factors like how much you earn and your cash reserves (to determine whether you can cover financial emergencies). Even if your credit score is low, a lender may be willing to take the risk as long as other aspects of your application are strong. But first, you need to know where to start. Speak with your current lender Let your current lender know that you'd like to refinance and find out if it offers ...

  Being a first-time home buyer can be intimidating. Not only do you need to navigate the house-hunting process, but you also need to find yourself a loan to finance that purchase. And if you don't know much about mortgages, you may have a hard time getting approved for a home loan. With that in mind, here are a few key pieces of information you should have if you'll be applying for a mortgage in the near term.   1. Your credit score matters – a lot Mortgage lenders generally require a minimum credit score of 620 for a conventional home loan. But that's just the minimum, and lenders can insist on a higher score – and deny you a loan if you don't have one. Also, the higher your score, the better the interest rate you're apt to snag on your mortgage. So it pays to approach the application process with solid credit.   2. Keep your existing debt to a minimum Mortgage lenders will want to make sure you're not too overextended with your debt before loani...

  Have you seen this latest infographic from Keeping Current Matters? Strong buyer activity is hopefully coming soon!    

  Paying off debt is one of the most worthwhile financial goals you can set for yourself. If you free yourself of obligations to your creditors, it comes with a whole host of benefits. You may be able to raise your credit score, you'll no longer waste money on interest, and you'll free up the cash you were devoting to your monthly payment. Unfortunately, it can take a lot of effort to achieve freedom from debt – especially if you owe a lot of money. As such, you can't afford errors that make the process even more challenging. In particular, here are four big mistakes you'll definitely want to steer clear of. 1. Tapping your retirement accounts Perhaps you're struggling with debt while your retirement account balances are growing. You may be tempted to just pull the money out of your 401(k) or IRA to pay back your creditors and kiss your debt goodbye for good. Unfortunately, this is almost always a really bad idea. First and foremost, if you're under 59...