Blog - Page 5 - Barrett Financial Services-Mark Crunk-Mortgage Specialist

Understanding the Impact of Credit Scores on Mortgages

When it comes to buying a home, your credit score is more than just a number—it's a crucial factor that can significantly affect your mortgage options and financial future. This is especially true for FHA loans, a popular choice among homebuyers due to their lower down payment requirements and greater leniency with credit scores. Today, we'll explore how different credit scores can influence your mortgage terms, specifically for a $300,000 home purchase with a 30-year fixed FHA mortgage.

Published on 01/10/2025

Understanding Automated Underwriting: What It Is and What the Results Mean

When applying for a mortgage, one of the key steps in the process is the automated underwriting system(AUS). But what is it, and why does it matter for homebuyers?

Published on 01/10/2025

Expert Predictions for the 2025 Housing Market

Find out what the experts are anticipating for 2025 housing

Published on 01/10/2025

How to Boost Your Odds of Receiving an Approve/Eligible from an Automated Underwriting System (AUS)

As your loan officer, my goal is to guide you through the mortgage process and help you achieve that all-important "Approve/Eligible" decision from the Automated Underwriting System (AUS). Whether it’s Fannie Mae’s Desktop Underwriter (DU), Freddie Mac’s Loan Product Advisor (LPA), or another system, the AUS evaluates your application based on several key factors. Here’s how to significantly increase your chances of approval.

Published on 01/08/2025

How to Buy a Home with Low Income: Yes, It’s Possible!

Learn how to buy a home with low income using practical tips, loan programs, and expert advice. Discover affordable options and assistance programs to make homeownership possible!

Published on 12/11/2024

Affordable Homeownership: 6 Questions to Help Lower Costs

Affording a home in today’s market can feel overwhelming, but there are actionable steps you can take to make it easier.

Published on 12/04/2024

Fall for Savings: Why the Holiday Season Might Be the Best Time to Buy a Home

While spring and summer are traditionally popular for real estate transactions, the fall and holiday months offer unique advantages that can make buying a home during this period particularly beneficial.

Published on 11/27/2024

Why It Might Be Time to Trade Living with Your Parents for a Place of Your Own

While living with parents can be a practical solution in certain circumstances, exploring homeownership can offer long-term financial benefits and personal growth.

Published on 11/20/2024

Mortgage Rates, Inflation, and a Buyer-Friendly Market: How to Navigate Your Next Home Purchase

While economic indicators like inflation and Federal Reserve policies are important, the current increase in housing inventory and slower price growth present a promising opportunity for homebuyers.

Published on 11/13/2024

What the Fed’s Expected Rate Cut Means for You—and Four Key Questions to Watch

Explore how the Fed’s expected rate cut and recent election outcomes could impact economic policy, inflation, and job growth—what this means for borrowers and the broader economy.

Published on 11/06/2024

Debunking Scary Myths About Buying a Home

Buying a home is one of the biggest financial decisions you’ll make, but it doesn’t need to be scary.

Published on 10/30/2024

How Non-QM Loans Work: A Smart Alternative for Non-Traditional Borrowers

Learn how Non-QM loans provide flexible home financing options for self-employed individuals, freelancers, and those with non-traditional income. Discover if this alternative mortgage is right for you.

Published on 10/23/2024

Is Now the Right Time to Refinance Your Mortgage?

Considering refinancing your mortgage? Learn how refinancing can improve your financial situation, when it makes sense to act, and what factors to consider. Contact us today for personalized refinancing options!

Published on 10/16/2024

The Surprising Factors That Could Make Your Home Worth More!

Discover the top factors that can increase your home's value, from location and upgrades to market trends. Learn how you can boost your property's worth and when refinancing might make sense!

Published on 10/09/2024