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/