If you are considering a new mortgage, refinance, equity mortgage, looking for debt consolidation or a reverse mortgage for retirement, let us help by getting a copy of your credit history from each credit agency, which you can do at www.myficoscore.com or from Brad. This is a good time to meet with us and assess your mortgage needs and payment comfort levels.
Write to each of the three credit reporting agencies (www.experian.com, www.transunion.com and www.equifax.com) to let them know of any discrepancy in the report.
It's never too soon to buy your first home. Some mortgage programs help you purchase a home with very little money down, if you have good credit. Talk to us about first-time home buyer mortgages.
If you can refinance a 30-year mortgage into a 15-year mortgage , you'll save thousands over the life of your loan.
Combine a first mortgage with an equity line If you know you're going to have to borrow money to furnish your home or purchase a new car, ask us to set up an equity line when you refinance or purchase your home. That way the interest on the money you borrow will be tax deductible.
A balanced retirement savings plan includes real estate, so consider buying a second home or an investment property. Watch interest rates and use equity wisely.
If you've lived in your home for two of the past five years, the first $250,000 (for singles) and $500,000 (married) of profit from your home sale is tax free. Instead of tying up that profit in your retirement home, set it aside for emergencies and use a mortgage to purchase your next home.
If you've got a home that's valuable and need monthly income but don't want to sell your home, consider a reverse mortgage. A reverse mortgage pays you something every month and you can continue to live in your home until your death. The National Reverse Mortgage Lenders Association www.reversemortgage.org has more information about this product.
Mortgages processed through Capital Hill Mortgage Services
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