November 2016

Written by Robert H. Ruth

Ask potential first-time homebuyers to share their biggest concern during the home purchase process and many will answer “finding the most favorable interest rate.”  That’s because homebuyers understand that even a quarter percent difference in the interest rate on their loan will cost (or save) them money.

What many would-be homeowners don’t realize is that a negative credit report, and the low credit score that results from it, can have a significant impact on their ability to qualify for a loan, the interest rate the lender offers, and the cost of repaying the mortgage over the life of the loan.

While there may not be much you can do to prevent the Federal Reserve from raising interest rates, there are some

Written by Robert H. Ruth

The first step in buying a home is deciding how much of a payment you can afford. This is usually done with the help of a loan officer who will try to get you pre-qualified for the necessary financing to buy a house. Getting pre-qualified before you go and look at houses is the best option in my opinion for 3 reasons:

1)  You'll go out knowing how much you can afford which saves time.

2)  You’ll be less likely to look at houses that are beyond your ability to purchase...nothing is worse than falling in love with a house only to find out that you cannot get the financing because it is beyond your means financially.

3)  Your Realtor will be able to negotiate more effectively for you due to the fact that you