Your credit score can make the difference between whether or not you qualify for a mortgage. It can also affect your interest rate and how much home you can afford. Click the image below for 3 tips to help keep your credit score healthy!
For information about what's in a credit score, check out our video.
2 tablespoons olive oil
12 ounces uncooked shrimp (peeled and deveined)
½ teaspoon salt, divided
1 medium shallot, diced
¼ cup chicken or vegetable broth
¼ cup dry white wine
2 tablespoons fresh lemon juice
¼ teaspoon ground black pepper
4 tablespoons fresh chopped parsley
3 tablespoons drained capers
2 tablespoons butter, diced
Lemon slices (to serve)
Heat the oil in a large skillet over medium-high heat. Add the shrimp and season with half the salt. Cook the shrimp until it turns pink and is slightly undercooked (about 3-4 minutes). Remove the shrimp from the skillet with a slotted spoon and set aside for later. Add the shallot to the pan and cook for 1 minute, stirring occasionally. Then add the broth, wine, lemon juice, pepper, and the remaining salt. Simmer for 5 minutes. Put the shrimp back into the skillet to finish cooking. Cook for 1 minute, or until the shrimp is completely cooked. Remove the pan from the heat and stir in the parsley, capers, and butter. Serve immediately (once butter has melted) over the pasta of your choice, rice, or zoodles and top with lemon slices.
One common misconception about buying a home is that you need a 20% down payment. While there are some benefits to putting more money down, it may be possible to get a zero-down home loan.* This could help you purchase a home if you have a steady income but have not been able to save enough for a large down payment. Understanding what zero and low-down payment options are available is the first step in figuring out what program best suites your needs. Whether you are a first-time home buyer or a repeat buyer, at Homestead we have many options to suit all borrowers. With every option there are qualification requirements, so it is best to ask your Loan Originator for more details about these programs. The chart below reviews few of our best flexible options.
*Down Payment will be based on program type. Each program has certain qualification restrictions. Contact you Loan Originator for program qualifications.
At Homestead, we know that the health and safety of the children if your life are top priorities on your list. This time of year can get very hectic for parents and guardians - from purchasing school supplies to shopping for new school clothes, there is a lot to accomplish before the first bell of the season rings! As we look forward to the upcoming school year, elementary age and even older children need to be reminded of about safety when attending school.
Below are some helpful tips and safety rules to remind children about when they head back to school.
Have a great 2018-2019 school year!
As you move through the home buying process, there are many things you should keep in mind. Here are the Top Ten financial pitfalls you should avoid when purchasing a house.
#1) Do not change jobs.
Change in your job status will cause your file to be re-underwritten and reconsidered. This may cause a delay with your loan process or possible denial of your loan application.
#2) Do not co-sign a loan for anyone.
During the loan process, changes to your credit report or status could negatively affect your ability to close your loan on time or at all.
#3) Do not buy a vehicle.
Applying for credit to purchase a vehicle will be recorded as an inquiry into your credit. This may decrease your credit score or decrease the amount of money that you may qualify for when purchasing a home.
#4) Do not use charge cards excessively or make late payments on ANY of your accounts.
Excessive use of credit cards can have negative effects on your credit rating. Inquiries are recorded by credit bureaus and balances on credit cards exceeding 35% both affect your debt to income ratio and decrease your credit score. Also, late payments of any type can decrease your credit score, increase your home loan interest rate, delay loan closing, or cause loan denial.
#5) Do not spend money you have set aside for closing.
Most conventional loans require 2 months of reserve money to be verified in your available financial accounts. Once it has been verified for use at closing, spending these reserve funds may result in loan closing delays or loan denial.
#6) Do not omit debts or liabilities from your loan application.
Please be honest and clear about ALL of your debts or liabilities early in the loan application process. Having the right information will allow your Loan Originator to provide you the best qualifying loan value. Unrecorded debts or liabilities that are found later in the process may affect the amount of money you qualify for in addition to causing delays or denials of your home loan.
#7) Do not buy furniture, appliances, or household items before closing.
Large purchases causing deductions in your banking accounts or additional debt on credit cards can negatively affect your loan process resulting in delays or denials.
#8) Do not originate any inquiries into your credit.
Multiple inquiries into your credit may decrease your credit score and any credit checks could negatively affect your ability to qualify for a home loan.
#9) Do not make large deposits without first checking with your loan originator.
Abnormal deposits or large deposits into checking, savings, or any financial account beyond normal payroll deposits must have money sources verified by Underwriting. Making these deposits could result in loan processing delays or denials.
#10) Do not change bank accounts.
Because the loan process requires a 2-month history of reserve funds, opening new financial accounts near a closing date may void this history. New bank accounts will not have the 2-month history available and cannot be used. This may result in loan closing delays or denials.