Mortgage Information

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Mortgage Information

Be Careful When Obtaining Multiple Mortgage Pre-Approval's Online.

Many on-line loan companies offer free pre-approvals. Many people apply with numerous lenders online or apply with a company that sends your data to many lenders that compete for the best rate for you. This process could have a negative impact on your credit scores because all credit inquiries show up on your credit report and lowers your overall credit score. I can quickly and easily have you pre-approved for a mortgage at no cost or obligation. Just complete the form below or call me at 215-245-2108.

Click Here To Review Today's Average Mortgage Rates

Choosing A Mortgage Company

Many of my clients have experienced problems with some mortgage companies they were not familiar with, including some on-line mortgage lenders. They have experienced problems with receiving higher rates than quoted at time of mortgage application, funding that was not available at the closing, and unprofessional service. When choosing a lender, you should choose a company you, a friend, or your Realtor is familiar with and has done business with in the past.

Credit Score

Mortgage companies use your FICO credit score rating to how likely you are to pay your mortgage. Your FICO credit score is based on five factors:

Do you pay your bills on time?
How much do you owe?
How long have you had credit?
How many new credit card accounts have you opened in a given period?
What is the mix of your debts, such as your ratio of student loans to mortgages to credit cards?

People who score above 700 are considered good risks, while people who score below 600 are considered poor risks.

Learn How To Become Credit Smart - Curriculum is in English or Spanish

If You Earn A Salary, You Can Own A Home

Mortgage Process Flow Chart

Mortgage Pre-Approval

The first step in buying a home should be getting pre-approved for a mortgage.

Schedule your FREE, No Obligation Mortgage Pre-Approval Consultation Now!