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What is a Thin Credit File? What does it mean when a funding institution denies you for “weak credit” or “thin credit file”? Basically it means, that you do not have enough credit history to rate, that you do not have enough loans, credit cards, mortgages, or car loans to generate a score high to get any funding. So when a financial institution pulls your credit and there is not enough history, the credit bureaus send out an alert that you have a “thin file.” A “thin file” means you don’t have much of a track record with credit. Either [&hellip

Purchase Your Dream Home with Just 1% Down Stop renting and buy your dream home California Loan Associates Inc. is excited to offer the conventional 1% down with equity boost loan program You put down 1%, your lender contributes 2%*, giving you 3% equity at closing Great low rates Close in 30 days or less Conventional 30-year fixed program Available with no monthly Mortgage Insurance    *2% lender contribution may only be applied to down payment There’s no reason to wait. follow link today and get the home you’ve always wanted. Check out the video about the Dream Home Loan: [&hellip

Refinancing an ARM Loan Adjustable Rate Mortgage can be a ticking time bomb Find out if refinancing an ARM loan is the best choice The Federal Reserve recently raised interest rates, and if you have an Adjustable Rate Mortgage (ARM), it may be a good time to consider refinancing your home. There’s no one-size-fits-all answer to whether you should refinance, so here are a few of the key thoughts. How long does your introductory rate last? Most ARMs have a fixed rate for the beginning of the mortgage. This is an introductory period (usually 3-10 years) when your rate will [&hellip

Five Tax Opportunities for Homeowners   Owning your own home has many advantages. Some of the benefits of home ownership is financial. Here are five tax opportunities for homeowners. Note with any tax information talk to your tax experts to evaluate how it will impact your personal tax situation. Mortgage Interest Deduction: This has long been one of the most valuable deductions for homeowners, especially with a new mortgage where the payments consist of mostly interest. Home Improvement Loan Interest: The same way your mortgage interest is deductible, so can be the interest on a home improvement loan. Consult your [&hellip

5 Ways to Enhance Your Credit Checking your credit report and credit rating is vital, especially if you’re considering purchasing a home. Here are five tips for enhancing your credit. It’s not about quick fixes, but responsible financial activity over time. 1. Get a credit card: Credit cards can build good credit. This may seem counter-intuitive, but let me explain. When used correctly, a credit card can be an effective tool for building credit. Charge a few budget-conscious purchases each month, and pay the balance off before your due date. 2. Keep your balance low: This is the other side [&hellip

First Time Homebuyer Infographic This first time homebuyer infographic is a visual shorthand for the steps to secure the mortgage to buy the 1st home. The home loan process is presented quickly and clearly. It will illustrate the process but for more information check out Sacramento Housing Magazine first time home buyer resource. The first-time homebuyer has a thrilling journey ahead. The applying for the first mortgage loan and navigating a complex housing market can be intimidating. The old saying knowledge is power can all so state knowledge gives understanding. And understanding the home buying process for the first time [&hellip

Foreclosure -vs- Short Sale and the affect it has on your Credit Score Pam Standlee owner of Credit Come Back shares this blog about the impact of foreclosure versus short sale and the affect on the individual’s credit score. The common alternatives to foreclosure, such as short sales, and deeds-in-lieu of foreclosure are all “not paid as agreed” accounts, and considered the same by the scoring models. This is not to say that these may not be better options for you from a financial perspective, just that they will be considered no better or worse for your credit score. The above [&hellip

5 Steps To Improve Your Credit Score By Pam Standlee 1.      Check Your Credit Report: Credit repair begins with your credit report. You can request a free copy of your credit report(s) by going to (the only official site): www.AnnualCreditReport.com.  Your credit report contains the data used to calculate your score and it may contain errors. If you find errors on any of your reports, dispute them (in writing) with the credit bureau and the creditor that is reporting the error. 2.      Errors to Look For/Dispute Include: Account not mine, wasn’t late, duplicate account, incorrect balance, past due amount (a [&hellip

Fannie Mae and Freddie Mac Bail out update   The U. S. government made money in the long run but is it worth it.   The federal government bailed out the two housing finance giants commonly known as Fannie Mae and Freddie Mac almost six years ago. The government seized the two so-called “government-sponsored enterprises” amid loan losses that threatened their solvency in the financial crisis of 2008. U.S. taxpayers gave Fannie Mae and Freddie Mac for more than $187 billion. This helped prop up both Fannie and Freddie. They have returned to profitability and have paid more than $213 [&hellip

The benefits of a 20% down payment For many conventional mortgages, you need to have a down payment of at least 5 percent of the purchase price. However, putting less than 20 percent down can have significant financial implications. Not only could a 20 percent down payment save you hundreds of dollars on your monthly payment, but you’ll build equity in the house more quickly and save a considerable amount of money on interest. One of the areas you will save the most money is PMI. PMI (private mortgage insurance) is what you pay to a lender to avoid loan [&hellip