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Credit Reports: What You Should Know

Questions & Answers  How do lenders determine who is approved for a credit card, mortgage, or car loan?  Why are some individuals flooded with credit card offers while others get turned down routinely?  Because creditors keep their evaluation standards secret, it is difficult to know just how to improve your credit rating. It is important, however, to understand the factors and to review your credit report periodically for any irregularities, omissions, or errors. Reviewing your credit report annually can help you...Continue Reading!

FHA Loan Limits Are Going Down Soon!

Buy or Re-Fi now! As of September 30,2011 the new FHA loan limits will be going down. Please remember though that this means the loan limit and not the sales price. FHA requires at least a 3.5% down payment on every loan. For a single family home in El Paso county, the new FHA loan limit will be $271,050 instead of the current $325000. I personally do not see this as a problem in the Colorado Springs area. (more...)Continue Reading!

Financial Tips

Back to School means getting organized! Fall is the time to start getting organized after a summer of fun and relaxation. Rose Kelly of Professional Mortgage Associates gives us a few tips to help get started. Read on below and get started! Prepare a Post-Mortem Letter Review or prepare a post-mortem letter to your spouse spelling out the location of your assets and property (assets of a deceased are often lost because a spouse may not be aware of them or know their...Continue Reading!

“Do’s” and “Don’ts” Make Getting a Mortgage Easier

Waiting for your closing day? During the processing of your loan there are certain things to keep in mind that may impact your loan transaction. During the loan approval process, your credit history, income and assets are verified for the initial approval and oftentimes just before your loan closing.  (more...)Continue Reading!

Are You Ready To Buy Now?

Is It Time to Buy a House? By Guest Blogger Rose Kelly  If you are in a place where you want to buy a home, now may be the right time to start thinking about it. The banks and government are simply overwhelmed with homes that have been repossessed, and it looks like there might be as many as 2 million more homes to come onto the market. Prices in many areas are going to continue to fall, and if you can...Continue Reading!

VA Loan Rate Update for Colorado Springs

Low Low Low Low! Rose Kelly of ULC Mortgage has just sent me today's VA Mortgage Rates. They are still crazy low! (more...)Continue Reading!