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Things to Know Before Getting Your First Mortgage

Apply with us today online! "Here are 12 things to know before getting your first mortgage:Meet with a mortgage officer before looking at homes. This will help you determine whether you have credit problems that need to be solved first. It will also let you know how much house you can afford before you begin your search. Pay off as much debt as you can first. This will help keep what’s known as your debt-to-income ratio down. Lenders look at your income and all your debts – student loans, car payments, credit card debt – to determine how much you can ...

March 29th, 2017 Things to Know Before Getting Your First Mortgage

What to do when you have a low Credit Score?!

Apply with us today online! Well for you at Northern States Mortgage we can help credits 580 and above!Credit scoreA number, roughly between 300 and 850, that summarizes a consumer's creditworthiness.The higher the score, the more able and willing a consumer is to repay a loan, lenders believe. The best mortgage rates and terms go to borrowers with credit scores of 740 and higher. Generally, a "low" credit score is in the "fair" to "poor" ranges below.740 and higher = excellent  661 to 739 = good  601 to 660 = fair  501 to 600 = poor&nbs...

March 29th, 2017 What to do when you have a low Credit Score?!

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March 29th, 2017 Check Out Some of Our Reviews!

Tips on Qualifying for a Mortgage with Less than Perfect Credit

If you have a less-than-perfect credit score (say 620 or less) and you want to buy a home, you may find that some lenders will avoid your business. Your credit score says a lot about your spending habits and your responsibility as a borrower. If the score is low, you will be a bigger risk to a lender because of your payment repayment history.  Fortunately there are plenty of lenders that are willing to take on this type of risk and they offer bad credit mortgages. They will definitely charge you more in interest than they would a borrower with good credit, but you can still get into a ...

October 21st, 2014 Tips on Qualifying for a Mortgage with Less than Perfect Credit