If you were recently denied for a mortgage application, it doesn’t mean you can’t get approved somewhere else. There are some application issues that are fixable. The first thing you’ll want to know is why you were denied. We can take a look and shop for other loans options.
Credit issues are a common reason for getting denied. The first thing to do is to examine your credit report to see if there are any errors that can be fixed. There are also other loan programs if your score doesn’t fit conventional loans.
Debt to income ration or DTI that is too high is another common reason to be denied. The first thing if possible, would be to pay down debt. Another common source of debt is student loans – you may want to look into applying for the new student loan forgiveness program.
Simply being denied once does not mean the end of the road, we can consider multiple loan options. A co-signer is another option to consider, although this will make the application process less streamlined. Complete our quick qualifier and we can schedule a consultation to see what you can qualify for and for how much.

The three consumer credit bureaus (Experian, Exquifax, and TransUnion) have announced two important changes to the way medical debt in collection will be reflected on credit reports:

• Any paid-off debt ($0 balance) will no longer be reported to bureaus.
• Debt with higher than $0 balance will not be reported until 12 months have elapsed.

What this means to you is that:

1. Once you have paid off a medical collection, it will disappear from your credit report entirely and will no longer hurt your credit score. Previously, this could remain on a person’s credit report for up to 7 years even after being paid off, hurting their score.
2. You now have more time to address any medical collection debt you do have (this was previously reported to bureaus after only 6 months, rather than 12).

This is great news for consumers who have accrued troublesome debt due to unplanned medical expenses – which may be almost half of all Americans, according to one recent survey.

However, it should be noted that you should still plan on paying off medical collection debt as much as possible before one year has elapsed, or else that debt will hurt your credit score until you pay the balance down to zero.

As we enter beach and pool season – a lot of people ask if a swimming pool will add value to their home (to be clear we are talking about in ground pools here). The answer is it depends.
Studies show that it can add 5% or more to the value of your home (but these studies are pre-Covid). If you are in a warmer climate like Texas or Florida, pools can add more value and be more desirable. In fact if your home is in a high-end area where most homes have pools then it can lower your home’s value if you do not have one. Of course you have to take into account building and maintenance costs, as well as if your yard has enough space to accommodate a pool and still have enough area left over. It’s probably a good idea to want a pool for enjoyment rather than just building one to increase resale value. If you want to get more feedback on your property and how it fits in the market feel free to schedule a consultation with us on our website for more details and the latest market conditions.

If you are a first time home buyer and looking for help with your down payment and closing costs, there are actually a number of grant programs both nationally and on the state and local level.
Grants are not loans and not required to be paid back. Qualifying for different grant programs varies, it often requires you to be a first time home buyer and you must live in the residence (not rent it out).
You may also need a minimum credit score as well as fit income criteria.
Give us a call or schedule a consultation on our website and we can see what grants and programs may be available to you.

If you are ready to purchase a house – you are going to be excited and maybe a little nervous. Here are 5 important things to do on a walkthrough to help lower any anxiety or future surprises.

1. Look for Wet Spots
Check the ceilings for wet spots (rings or circles) and discoloration around windows. They can cause issues down the road and be hard to fix!

2. Check The Wiring
Turn on the switches and dimmers, check the doorbell, and garage door; basically check it all. If things are not working right, there could be an overall wiring issue.

3. Inspect the Bathroom
Again look for water damage around toilets, showers, and tubs. Also, make sure everything is working properly, flush the toilets, and check the showers and faucets to make sure the hot water works.

4. Test the hardware
Check everything from fans to the washer and dryer. Make sure it all works.

5. Run the heat and AC
You want to make sure the heat and AC are working properly – turn them on and let it run for a few minutes.
Finally, make a checklist for all the items to be included in the sale and have the owner sign off or initial it so there’s no confusion or disagreements at closing.