Know Before You Owe: Why Your Dallas Mortgage Lender Will Love 2015

"A new mortgage form is coming soon to a Dallas mortgage lender near you. Officials promise that it'll make mortgages a whole lot easier to understand. Part of the reason for Americans' mortgage woes can be traced to the presence of jargon. Does my loan come with a penalty for paying early? How much will I pay for at closing day? Studies show that a third of American home buyers don't have a clue about mortgage and its nature."

http://dallas.churchillmortgage.com/industry-news/know-before-you-owe-why-your-dallas-mortgage-lender-will-love-2015/

Exercise Caution About Paying Early, Dallas Mortgage Lenders Advise

"Prepayment may sound like a good idea but only if the contract tells you that it's fine. Certain Dallas mortgage lenders, for instance, may impose prepayment penalties that are prevalent in low-interest loans. The amount varies by lender, but experts estimate it can reach up to six months worth of interest. Prepayment policies, for this reason, should be included in your list of questions when shopping for mortgage. Read the terms of Dallas mortgage loans from providers like Churchill Mortgage to the letter; a lot of people have been caught off-guard in their mortgage policies due to the simple mistake of not reading the fine print. Don't be one of them."

http://dallas.churchillmortgage.com/industry-news/exercise-caution-about-paying-early-dallas-mortgage-lenders-advise/

Dallas Mortgage Companies More Flexible with Mortgage, Study Shows

"The news is a welcome relief for many in Texas, whose credit scores aren't as perfect as local mortgage companies in Dallas, TX would want it to be. Texas has the third lowest average credit score in the country at 718. Despite recent improvements, the Center for Public Policy Priorities reported major cities in the state having average credit scores below 700. As of 2012, Austin has the highest average credit score of 699 among the six cities in Texas with a population of over 500,000. Fort Worth has the lowest at 666. The largest gain went to Dallas with three points, from 667 in 2011 to 670 in 2012."

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-companies-more-flexible-with-mortgage-study-shows/

The Importance of Good Credit Scores in Securing Home Loans in Dallas

"The average buyer may not be able to pay for big-ticket items in one lump sum; for that, they need a loan. Your chances of getting a good deal, however, are as good as your credit score. Two Dallas home loans may have the same amount and terms, but the interest rate fluctuates with every rise and fall of the credit score. Credit scores of 700 and above put you up for an interest rate of no more than 4.24 percent, according to credit scoring company FICO, based on a $200,000 loan. At 640 and below, the interest rate for the same loan increases to more than 5 percent."

http://dallas.churchillmortgage.com/industry-news/the-importance-of-good-credit-scores-in-securing-home-loans-in-dallas/

Choose Only Trustworthy Dallas Mortgage Brokers When Buying a Home

"The practice of buying property on behalf of someone else is called “straw buying,” and is often done when the real buyer has poor credit ratings. The real buyer will just reimburse the straw buyer and may even give an incentive to the latter for letting them “borrow” their good credit. While straw buying isn’t technically against the law, it can be used by fraudsters to buy properties that are illegal for them to purchase, as was the case above. No reliable Dallas, TX mortgage company will approach clients with offers that are too easy or too good to be true. Similarly, all incentives borne from shady dealings like straw buying should be rescinded on the spot. Leading companies, like Churchill Mortgage, offer honest and dedicated mortgage services to qualified people only with the reliable backgrounds on debt payments."

http://dallas.churchillmortgage.com/uncategorized/choose-only-trustworthy-dallas-mortgage-brokers-when-buying-a-home/

Dallas Mortgage Loan Nixed? Key Factors to Lower your Credit Scores

"One such company, Lenddo, determines if you’re friends on Facebook with someone who was late paying back a loan to Lenddo. If so, that’s bad news for you. It’s even worse news if the delinquent friend is someone you frequently interact with. Aside from the friends you keep on Facebook, other not-so-obvious factors can also negatively affect your creditworthiness. Below are a few things that can cause an unexpected dip in your FICO score and get your Dallas mortgage loan rejected:"

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-loan-nixed-key-factors-to-lower-your-credit-scores/

Mortgage Companies in Dallas Can Help Finance Your Dream Home

"Before you apply for a loan from reliable mortgage companies in Dallas, you need to understand the mortgage market and consider your credit health, your income and debt payments, and your budget in order for you to get the best possible loan. As an article in Money Under 30 reminds home buyers: Even as the real estate market begins to recover, the mortgage crisis has left its mark. Mortgage underwriting—the criteria banks use to determine whether to make a loan—is more stringent. And home buyers who have shaky credit scores or small down payments will definitely have a harder time finding a loan."

http://dallas.churchillmortgage.com/info-article/mortgage-companies-in-dallas-can-help-finance-your-dream-home/

Apply for Home Loans in Dallas, Pick the Best, and Get Your Dream Home

"During the shutdown, home buyers expected some delays in the processing of mortgage applications without the Internal Revenue Service issuing the necessary Form 4506-T that verifies the reported incomes of the home buyers. Economists also say that they can expect things to look up and slowly transition back to normal, due to the reinstatement of the federal government only two weeks after it was shut down. So if you are a home buyer looking to take out home loans in Dallas, you can minimize your worries about challenges in obtaining your mortgage in a timely and efficient manner. A mortgage loan is a real estate loan from a financial institution or mortgage lender that is to be paid back in installments, with interest, over a certain period of time. The interest rates and the length of time the loan can be carried out varies according to the type of mortgage. The most common type is the fixed interest mortgage, where a set length of time (usually 10-30 years) remains unchanged thro

http://dallas.churchillmortgage.com/industry-news/apply-for-home-loans-in-dallas-pick-the-best-and-get-your-dream-home/

So You're no Longer Burdened with Dallas Mortgage: How To Have A Great Open House

"Many people deem it fit to sell their home if they have already paid off the outstanding Dallas mortgage for their home in the city of the Mavericks. If you want to have a great open house, there are certain rules of thumb you should follow when it comes time for you to showcase your Dallas home. The guidelines listed below will help you pull one off seamlessly: Don’t attend your own open house. This might seem like a good idea at first, but trust me, it isn’t. Some homeowners think that if they attend their own open house, they can easily answer any questions that potential buyers may have. The problem here is that buyers will come in with their agents and pick apart your home, bit by bit. They will have very frank conversations with their agent while trying to determine if they can live there. And if the homeowner is hovering around, they may not feel safe to be so candid. Which means they won’t get their questions answered and may leave without planning to make an offer. "

http://dallas.churchillmortgage.com/industry-news/so-youre-no-longer-burdened-with-dallas-mortgage-how-to-have-a-great-open-house/

After Securing Dallas Home Loans: House Hunting Like a Pro

"According to an article in bankrate.com, mortgage calculators have different purposes as well. A mortgage calculator can help homeowners if they're planing to pay off their mortgage early. For instaOnce you’ve secured your Dallas home loan, the real heart of the journey begins when it comes to finding your dream home. This process can either be smooth or bumpy, depending on how well you prepare in advance. But if you find yourself in a market competing against many buyers, you will need to employ strategies that other buyers aren’t aware of. Hopefully by this point you’ve already taken care of your budget, since you've already got the search for affordable Dallas home loans in the bag, so you are well aware of what you can afford. The market is really hot in Texas right now, so it’s going to take a bit more savvy on your part to nail down the house you really want. Knowing your budget isn’t enough – you need to be able to invest in some research if you want to stay on top of every

http://dallas.churchillmortgage.com/industry-news/after-securing-dallas-home-loans-house-hunting-like-a-pro/

Battling Mortgage Fraud With Reputable Dallas Mortgage Lenders

"A study spearheaded by global credit report company Experian revealed that cases of mortgage fraud are increasing at a rapid rate. Harder economic conditions and a stricter criteria for obtaining a mortgage are being seen as two possible reasons why borrowers resort to such dishonest behavior. While many would find the news alarming, others consider this a good thing, as the identification of those guilty of mortgage fraud will hopefully raise awareness on the matter and encourage vigilance among lenders and borrowers alike. Due to the increase in mortgage fraud, lenders have began to tighten tests and checks before approving applications. A worsened economic climate has also made mortgage brokers look more closely into the applicants' income and source of wealth. These are only some of the positive impacts of mortgage fraud incidents to reputable Dallas mortgage lenders and their peers in other areas."

http://dallas.churchillmortgage.com/industry-news/battling-mortgage-fraud-with-reputable-dallas-mortgage-lenders/

Tips from Dallas Mortgage Companies: Different Ways to Use a Mortgage Calculator

"People use mortgage calculators to evaluate and estimate the payments needed for their mortgage from leading Dallas mortgage companies. A mortgage calculator can also give you an idea about your mortgage payments and your schedule of amortization. This will help busy homeowners like yourself in bypassing math equations and calculation tasks that could eat up a lot of time and brain cells. According to an article in bankrate.com, mortgage calculators have different purposes as well. A mortgage calculator can help homeowners if they're planing to pay off their mortgage early. For instance, after paying for a 30-year fixed rate mortgage, there is a chance that the total interest payments are even larger than the loan. To find out ways on how to shorten the term and to earn more savings by devoting extra money toward their loan's monthly principal, consumers can use the “extra payments” option that most online mortgage calculators have."

http://dallas.churchillmortgage.com/industry-news/tips-from-dallas-mortgage-companies-different-ways-to-use-a-mortgage-calculator/

Dallas Mortgage: Improved Real Estate Market Brings Good News for Veterans

The real estate market is back on the rise, with Dallas being listed within the top 20 of best-performing markets across the US. And with the increase in population and a higher employment rate, there are more reasons for prospective owners to purchase homes in the area. However, buying a home is never easy, especially when it comes to funding. This is why first-time home buyers choose to take on loans from Dallas mortgage companies. But what about those who are unable to work, thus can't get enough money to purchase a home? In a recent report from CBS DFW, war veteran Curtis Zachary, who was declared 100% disabled after suffering an injury from his deployment in Iraq, was awarded a mortgage-free home from non-profit organization Defenders of Freedom. While not everyone has this opportunity, buyers can still work with local loan companies to select affordable loan options so they can purchase their own home.

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-companies-discuss-the-revitalized-real-estate-market-giving-back-to-veterans/

Why Dallas Mortgage Lenders Say Math is a Borrower's Friend

According to an article written by Les Christie for CNNMoney.com, home buyers may need to sharpen their math skills to avoid defaulting on their mortgage payments. Christie writes that borrowers who perform poorly at math are 5 times more likely to default on payments. The statement is supported by a study by Columbia Business School associate professor Stephan Meier. Participants in the study were borrowers who were issued mortgages in 2006-2007 who were asked to solve several math problems. Results showed that 25% of borrowers with the lowest scores and only 5% of borrowers with the highest scores defaulted on payments within 5 years of getting the loans. Purchasing a home involves a lot of math, and while reputable Dallas mortgage lenders have the responsibility of doing most of the computations, borrowers are still responsible for other matters. These include building a strong credit, reducing debt and saving money to make a down payment.

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-lenders-say-brushing-up-on-math-skills-can-deter-foreclosure/

Rise in Home Prices & Revitalized Real Estate Market: Great News for Dallas Mortgage Companies

The housing market in Dallas is showing brighter signs of revitalization, as homes are being sold quickly despite the rise in prices. In a report made by Claire St. Amant for the CultureMap Dallas, home prices in Dallas increased by 7.4% since 2012, which indicates a rise of about 12.1% in a nationwide scope – figures that are last seen in 2004. Prospective home buyers are advised to seek the expertise of Dallas mortgage companies to give them flexible and secure mortgage options and programs. Moreover, Dallas residents who are interested in building wealth must take no-mortgage investments into consideration. It is an all-cash home purchase that creates diversified portfolios of common stocks. Mortgage or no-mortgage, people who are planning to purchase properties must talk to their trusted mortgage companies to help them attain their specific goals.

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-companies-discuss-rising-home-prices-the-revitalized-real-estate-market/

How Self-Employed can Apply and Secure Safe Dallas Home Loans

According to the report done by Ryan Starr of The Star, self-employed home buyers are having more difficulty in applying and securing safe Dallas home loans. Freelancers are experiencing lengthier screening processes when applying for home loans as compared to employed ones. This is because rank-and-file's salary is supported by official figures and financial statements, whereas self-employed borrowers need to be more credible in declaring their income. Self-employed folks need to present the right papers to support their income claims, which demands that a business owner should be running his business for at least two years to become a stable customer for lending companies. The whole proceeding can be daunting, but assistance from a reputable mortgage company is going to make the weigh lighter.

http://dallas.churchillmortgage.com/industry-news/how-the-self-employed-can-secure-flexible-dallas-home-loans/