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When you’re shopping for a home, choosing the neighborhood that works for you is just as important – possibly more important – as choosing the right home. Knowing what you’re looking for is half the battle, and knowing where to look to get the information you need can help make your decision easier.
1. What is a Credit Score?
A credit score is a three-digit number used to determine the creditworthiness of an individual and is created by the Fair Isaac Corporation (FICO). The score is calculated based on an analysis of a person's credit history and files.
You may have checked your credit score once or twice over time as you applied for credit cards, loans, or even new jobs. But have you thought about it much since then? As you reach the point of thinking about homeownership, it’s important to learn about your credit. Your credit score is an important piece of obtaining a home loan. We can help you by sharing some common credit mistakes to avoid.
If you are thinking about buying a home, it’s a good idea to know your credit score and understand how that score will affect your interest rate and payments. You can take the right steps now to improve your credit score, so you have more options when the time comes.
You’ve heard about credit scores and know that they are considered important, but why should you care about your credit score? Your credit score is looked at for multiple reasons - sometimes by employers, landlords, your bank, but also anytime you apply for a loan, including a home loan. Understanding credit scores and how they’re calculated will help you check into and improve your own score so you can have better credit when you are ready to purchase or refinance your home.
American Pacific Mortgage has long been a supporter of the Veterans community, having provided VA loans for most of our history. We have an entire division dedicated to education, training, and assistance for loan originators so that we as a company are providing the very best possible service to our Veterans.
Doctors, dentists, surgeons, veterinarians and medical students have some of the highest student loan balances, and therefore may have a difficult time qualifying for a mortgage, when compared to other professions. Lenders underwrite loan transactions using a calculation for student loan payments that can work to keep these highly trained professionals out of the housing market.
Buying or building a home can be a time consuming endeavor - especially in a tight market. American Pacific Mortgage offers our SecureLock® option for all qualified borrowers, allowing for longer lock periods, while still being able to play the market.
If you’re a Veteran thinking about purchasing a home, are you aware of the benefits available to you? Not only are there special loan programs through approved VA lenders like American Pacific Mortgage, but there are also special programs and Veterans grants in various states.
If you have been contemplating buying a house, we are here to help you think through the possibilities.
Are you a police officer and considering a home purchase sometime soon? We know that police officers, as well as correctional officers and other everyday heroes, work hard for our communities. As our way of saying thanks for all you do, we designed the STaR Home Loan program...
As a first-time home buyer, it can be overwhelming to hear all the stories from friends and family about home loans. Often times you’re left with a lot of assumptions and not all of the facts about the process, possibly keeping you from taking the steps toward getting the home you’ve been dreaming about.
It’s that time. Your current home isn’t working for your family anymore and you’re ready to make the move to buy your next home. But maybe you’re nervous about trying to sell your current home while buying your new home. Do you sell first, then buy? Or buy first, then sell? No need to worry - APM can help you through the process with our Bridge Loan programs!
We know how it goes - looking at houses online in your favorite neighborhoods and wondering if this is the right time to buy. Many buyers wonder if they should purchase a home now or wait a few months to see if that makes better financial sense. But interest rates have been on the rise so now might be the time to buy a home.
The home buying process can seem long and drawn out, but are there ways to speed up the process and buy a house fast? Definitely! No matter what your situation is or why you need to close a loan quickly, there are steps you can take to make it happen sooner.
You’re ready to become a homeowner! It’s an exciting time and now you may be wondering what exactly is included in a monthly mortgage payment, and how much it will actually be. We are here to help you with that so you won’t be surprised by the monthly expense.
Been looking at homes for sale in your area? If you’ve been considering a home purchase this year, you’ve probably been focusing on saving up your money for a down payment. But you might be wondering how much you really need to save up and what the average down payment size is for borrowers like yourself.
You may feel like a higher priced home or a home in a high-cost area is out of your reach. Trying to save up a 20% down payment for these homes can seem almost impossible. APM introduced programs last year to maximize options for borrowers looking for higher balance loans. Our Jumbo Solutions loan program can help you with a more affordable down payment as well as possibly reducing your monthly payments.
