A Credit Hard Pull Versus a Soft Pull
What is a Pull and How Does it Affect You Credit Score? A “pull” is when a potential creditor pulls your credit report, also called an inquiry. People are told that inquiries can bring down your credit. This is true, but only by a few points. Other credit profile...
You Need a Minimum 3.5% Down to Buy a Home…FALSE
Myth Buster of the Week: You need a minimum 3.5% down to buy a home: FALSE! There is a program that allows only .5% down! That’s right! On a $400,000 loan you only need a $2,000 down payment. We can even do a no-cost loan on that program, with minimum 620 credit...
Can Get a Loan if You’re on a Fixed Income?
Myth Buster of the Week: True or False: Retired people, or people on fixed income cannot qualify for a Loan. False! It’s surprising to me just how many people think that being on social security or disability means you can’t get a loan. That is simply not true. As...
How to Increase Cash Flow Even if You’re Retired
A client called this week saying that he had to buy a property for his mother because she doesn’t have an income. I asked if she had social security, pension, IRAs and he said, “Yes.” We were able to save him .25% in interest by having her be the borrower and he as...