How To Buy A New Car With Bad Credit In Houston

Bad Credit Houston

Bad Credit Houston

Step 1:   Guidelines

Most car dealerships require a 620 credit score to qualify for 100% financing.  If your one of your scores is not a 620, you may need to put a down payment.  If you are unable to put a down payment, it may be wise to find a car with rebates.  As an example, dealerships advertise $2000.00 rebate or 0% financing.  You would choose the rebate as you have the option of using this as a down payment.

Step 2:  Financing A Car With Bad Credit In Houston

If you have a great relationship with your credit union, you may want to stop by and inquire with them.  Credit unions provide great rates as their money is for the people by the people.  Many times car dealerships have great deals with credit unions.  Since they do an abundance of business together, it may be wise to take advantage of their buying power.  Either way find out what is going to be the smartest financing option for your situation.  When your bad credit in Houston gets better, you will be able to choose the lender with the best rate instead of having people tell you which bank will finance your deal!

Step 3:  Choose The Vehicle That Works Best With The Bad Credit Situation

Don’t fall in love with color or car.  Remember, this is a temporary fix. Eventually you will be able to get the car of your dreams with an impeccable rate.  Figure out what car will work.  Get a price from a high volume dealership.  Make sure to ask for the best price from the sales manager or fleet manager.

Step 4:  Shop And Compare Pricing

Take the price the first dealership gave you and call another high volume dealership.  Let them know what you are looking for.  Give them the make, model and year along with the preferred color.  Let them know what your price is with the other dealership.  Ask if they can beat the current pricing structure.

Step 5:  Compare One More Time

Once you have the price from dealership #2, contact a third high volume dealership.  Present your latest deal and ask if the third dealership can beat the deal.

Step 6:  Choose Your Dealership

If they can beat dealership #2, you may choose to purchase your vehicle from dealership #3.  Or you may take the numbers from dealership #3 and see if dealership #1 can meet the deal.

Step 7:   Purchase Your New Vehicle With Bad Credit In Houston

Purchase your vehicle at a less desired interest rate, knowing things will improve soon.  This is a temporary vehicle.

Credit is an essential of life.  Bad credit in Houston will cost you alot of money.  Be smart, do your research.  Find the right credit repair company in Houston to assist you in achieving your future goals.  Impeccable Credit Services can help.  Call 281-419-6811 for a free consultation.

 

 

 

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5 Ways To Avoid Bad Credit In Houston

Bad Credit Houston

Bad Credit Houston

1.Manage Debt

Get all the late payment caught up even if it is 29 days late do not let it get to 30. Once it gets to 30 days late it will report to your credit report and drop your credit score 45 points! It takes more than getting this late payment removed or deleted to add an additional 45 points to the credit score.  Be wise, get into the habit of paying your bills on a certain day of the month every month.  This way you are 100% sure there are no 30 day late payments on your credit report!!

2.Only Purchase What You Can Afford

Credit cards are great for emergencies and building credit. When they are used for frivolous spending you might be paying off that shopping spree for over a year, leading to bad credit in Houston. You should only spend what you have on a credit card. Although it is a line of credit, it is cheaper to pay it off when the bill comes in rather then waiting until the interest hits. Once the interest hits that total increases until the bill is paid.

3.Collections

Do not let anything go into collections. A collection and/or several collections can lead to bad credit in Houston!  They appear to potential creditors as if you are not responsible to pay your current bills.  Creditors want to see a potential client has the ability to pay bills on time without derogatory accounts.  Your credit score paints a picture of who you are.  As a company does not know you personally, they judge you by your habits on paper.  They determine your ability to fulfill obligations by your credit report.  Collections show a person has been irresponsible and can not fulfill the promise to pay.  Many times several collection accounts lead to bad credit in Houston.

4.Save On Rates

Try to get the best rate on everything. The difference between having the worst rate on a house compared to the best rate could save you almost enough to buy another house (mentioned in “It Could Be Time For A New Home Mortgage Loan, Refinance in Houston?” blog) Even credit card rates, apply for cards with secured low rates rather than the high 21% interest rates. The reason to avoid such high rates is not just to save money, but to avoid getting into debt.

5.Fix It!

You do not let the plumber fix your cavity, you go to a dentist. Credit restoration companies specialize in bad credit in Houston. People get skeptical about companies and just avoid fixing their bad credit. Just like looking for a dentist, babysitter, plumber, any kind of service requires research. Read reviews, visit the office, if the company makes you feel comfortable and legitimate let them fix your bad credit. Impeccable Credit Services does not just fix bad credit in Houston, we give you the knowledge and tools to succeed and know how to avoid bad credit once you are done with our services.

Even if your credit is average there is always room for improvement. Avoid unnecessary debt and bad interest rates, save where you can, research and get the knowledge to have Impeccable Credit!

 

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How Do I Rent A Home With Bad Credit In Houston?

Bad Credit Houston

Bad Credit Houston

 

  • I lost my job
  • My spouse got sick
  • We had to move out of our apartment
  • Broke our lease
  • Car payments went late and eventually repossessed

We moved in with our parents a year ago. We want to get our life back, but do not know where to start. We are unable to rent a home with bad credit. We are both finally employed. What do we do? Where do we start?

These are the cries of many people affected by life itself, and do not know where to begin.

Bad Credit in Houston Is A Result of Being Irresponsible?

Many people think bad credit comes from being irresponsible. However, in reality any unexpected emergency or change can result in bad credit in Houston. For example, a catastrophic illness, cancer, a sudden disability, are all circumstances that lead to unemployment.

Many Employees Are Not in Control of Company Lay-Offs…

With all the lay-offs occurring in the oil field it maybe difficult for an employee to avoid the ax. This is a occurrence that is beyond their control.

How Do I Get My Life Back?

In the above listed scenarios the first step is stability.

Step two is putting the pieces back together.

Of these many pieces fixing bad credit in Houston and finding a stable place to live are at the top of the list. However, you cannot rent a home to live without having Impeccable Credit.

Can I Rent An Apartment With Bad Credit In Houston?

You cannot rent a home with a credit score less than 535. If you have any type of eviction or broken lease on your credit report you will not be approved by most apartment complexes. In this case, you must either settle the collection or judgment with the previous apartment complex or get the item removed from your credit.

Can I Rent A Home With Bad Credit In Houston?

If you are seeking a place to live, a rental home is going to be the best option. You must have first and last months rent, and the willingness to be honest with your Realtor. Most Realtors are willing to work with you as long as you are honest, and let them know about your situation.

What About My Dog?

Be sure to disclose in advance any factors that may hinder you from leasing a property. Such as if you have a big dog, let your realtor know in advance and be prepared to pay a pet deposit and possible pet rent.

Everyone Has A Past

Most of the time a realtor is happy to accommodate your circumstance knowing you are being truthful about your past. In the event your past looks spotty and your realtor catches you in a lie, your chances of finding a place to live become slim to none.

Be Honest

Being upfront is sometimes embarrassing. Realtors and people in general can relate more when given the full story. This helps them help you with your problems and they already know that everyone makes mistakes.

It’s Time To Move Forward !

Get into your rental property. Fix the damage your dog causes to the property. Get your bad credit in Houston repaired. Begin saving your down payment to purchase your dream home!

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Trying to Work with Bad Credit in Houston

Bad Credit Houston

Bad Credit Houston

Credit Is An Essential of Life

Your credit affects every aspect in your life; it is an essential that most overlook.  Many people do not realize their credit may be the reason for unemployment. When applying for most jobs in today’s society, employers pull a credit report prior to hiring applicants.

Why Would An Entry Level Position Check Bad Credit In Houston?

Entry-level jobs such as retail associates, bank clerks, and security guards will ask to pull credit before hiring.  The reason employers check for bad credit in Houston, alongside background checks, is to make sure you are capable of balancing a job with everyday life.  Bankers do not want to hire people who cannot qualify for the lines of credit that they offer.

Righting Wrongs on Bad Credit In Houston Prior to Employment Is A Requirement

Firefighters, police officers, accountants, loan officers and bankers are among many professions who check credit before hiring.  Those who hire the above listed professions are requiring any outstanding collection to be paid or settled if they are appearing on the credit report.  They are basically painting a picture; anybody in any of these professions with bad credit in Houston must right their wrongs.  In other words, future employees who may have run into rough times in the past must clear up any outstanding debt before an employer in these fields may consider employment.

Impeccable Credit Says A Future Employee Is Capable Of Overcoming Small Obstacles

Impeccable credit confirms to the employer, an applicant may be able to overcome small obstacles in unexpected circumstances.  For example, if your car breaks down, your employer wants to make sure your credit score will be able to sustain getting a new car, or the cost of maintenance or repairs.  This may seem like something minor.  However it becomes a big deal when an employee must miss work due to lack of vehicle.

Employers May Paint The Wrong Picture Based On A Credit Report

Why would an employer hire someone who does not know how to manage their credit?  Or better yet, how can a banker or loan officer advise a client to make smart banking and or mortgage choices if he/she has not made wise choices in the credit department?  If a future employee has bad credit in Houston they may not make the best choices resulting in possible theft from the company in order to resolve unpaid debts and/or collections.  It isn’t legal for a company to not hire based off of your credit score/report, but they have no legal way to prove the reason why they did not hire someone.

Trading Places With Your Future Employer?

Something to keep in mind before joining the job hunt is to make sure your credit report is dignifying as an applicant. If you were an employer, what picture would you paint by reviewing your credit report?

Know Your Credit Prior To Applying For Employment

AnnualCreditReport.com is a good way to keep an eye on the activity on your credit report. Most online credit monitoring services are helpful as credit data may be close to accurate. However, the credit score on most are not accurate.  Keep in mind, Employers generally pull the data on the credit report report, not the score in most cases.

Request A Copy Of Your Credit Report

You may request to have a copy mailed to you at the time of the paperwork, prior to agreeing to pull credit.  If there is something that you are not familiar with, or that you are dissatisfied with on your report, it is recommended you seek professional credit restoration help.

Credit Repair Is An Investment

Although money may be tight, it is best to work alongside professionals, than to attempt fixing your own bad credit.  It is possible to restore your own credit.  However, it may take longer than you expect with less desirable results than you may have expected.  People do not administer their own surgeries to avoid complications; this is the same with credit restoration.  Restoring bad credit in Houston does not happen overnight.  But with the right guidance most people should be functional again within a year.  Make sure to research Impeccable Credit Services Blog to find the right credit repair company for your needs.

Impeccable Credit Helps to Exude Confidence

Before embarking on the job hunt and interview process to make sure your résumé and credit report are up to par, dress to impress, and do not be afraid to pass up opportunities.  Confidence is the key to success overall.  Once you achieve confidence in your credit score you will be able to focus on what career path fits your lifestyle.

 

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Authorizing Users On Credit Cards Can Lead to Bad Credit in Houston

Bad Credit Houston

Bad Credit Houston

Who Do I Trust?

Those of whom we trust are not always the most responsible.  Although emotions play a special role in our lives, one must choose to separate business from personal to avoid having bad credit in Houston.

What Is An Authorized User?

When acquiring credit cards, there is usually an option to place someone as an authorized user.  Although a social security number is not needed to add somebody as an authorized user one must be extremely careful when making a decision to add an authorized user on a credit card.  Once an authorized user is added to a credit card, the authorized user assumes the credit of the borrower on the specific credit card in which they are added.  Technically the authorized user is allowed to purchase on the credit card.   However an authorized user is not responsible for paying the bill.

Why Add An Authorized User To A Credit Card?

This may seem like a great idea to build credit for some young teens and young adults who have yet to establish a credit profile of their own.   What one must consider when adding an authorized user is “do I trust this person to give a credit card and allow them to spend on my account?”  The details of this credit card is going to have an effect on the credit of each person.

Choose An  Authorized User Carefully

If someone asks to be an authorized user consider his or her relationship to you. Do terms such as reliable, dependable, and/or responsible arise when you think of said person? People typically think putting someone on their credit card, as an authorized individual is beneficial. This is not always the case. Family, friends, and even spouses can ruin one’s chances of ever getting the infamous AMEX card or vice versa.

Think Twice Before Becoming An Authorized User

Also keep in mind when being added as an authorized user to a credit card, may result in bad credit in Houston, in the event the borrower is late on a payment.  If the borrower fails to pay the account and it ends up in collections, the account will have a negative effect on the authorized user’s credit as well.

Can An Authorized User Be Taken Off An Account?

A borrower may take an authorized user off an account before it goes late.  However, once the account has been late, a borrower can not remove an authorized user resulting in bad credit in Houston for the authorized user.

What Happens If The Credit Card Is 30 Days Late?

Any late payment will affect both parties credit score on the credit report. Things get sticky if there is any chance of untrustworthy situations such as break-ups, fallouts and life happening. For instance, if one’s  significant other is an authorized user on all credit cards, both would be at risk if the borrower decides not to pay.

The Creditor And Credit Bureaus Do Not Acknowledge Breakups and/or Divorces

If the ex goes on a shopping spree and leaves you with the bill, always stay accountable for ALL  cards, your name is associated with. Every credit card or installment loan in your name is usually located on your credit report, including late payments and negative activity.  If you signed for the credit line, you are responsible for the payment!  The creditors and credit bureaus do not acknowledge breakups and/or divorces.

Choose Authorized Users Wisely

Lenders use your credit report to determine your eligibility for credit cards and lines of credit. Examples of this include: credit cards, loans, apartment complexes, and car dealerships. Choose your authorized users wisely!

Be Conservative So You Do Not Become A Person In Houston With Bad Credit!

Overall, try your best to be conservative when it comes to authorized users. Make sure to keep yourself accountable, as well as the person who is an authorized user on your account. It is best to prevent bad credit in Houston before bad credit is occurs.

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Shopping, A Lover’s Loss; A Bad Credit Houston Shopaholic Tragedy

Bad Credit Houston

You’ve Got Mail

“Congratulations you have been approved for (an outrageous credit limit) based on your credit score!” We’ve all been there, opening a crisp envelope and seeing that shiny piece of plastic. Before you know it, you’re calling to activate and accept this mysterious gift. A trip is made to the mall, and without hesitation that piece of plastic starts depreciating in value.  This marks the beginning of the history of bad credit in Houston.

Houston we have a problem; Bad Credit

Every purchase is just an IOU to the credit card company with an added 1-22% interest.  In the life of a shopaholic,  it doesn’t matter when it comes to that brand  new pair of shoes.  Debt slowly starts to creep in as the shopping addiction increases. It’s a euphoric feeling once the card is swiped and the transaction goes through. Like a brand new car riding off the lot, a credit card can easily depreciate in value, depending on the interest rate.

Facts About The Bad Credit Houston Shopping Addiction

Shopaholics are usually impulse buyers. Most likely something has to trigger the impulse to shop. In most cases it is the empowerment they gain when given the opportunity to shop without worrying about the bill at that moment. Most credit cards build a consumer’s credit score if they are properly used.  Bad credit in Houston is usually a result of consumers carrying a high balance on their revolving accounts. Many times anxious consumers may pay the credit card 30 days late or completely forget about the credit card bill.  When this happens, the credit card is sent to collections and the bad credit pattern begins.

How do I avoid bad credit in Houston?

Credit cards can be a valuable tool to build and maintain an impeccable credit score when they are used and maintained properly!  A credit union is a good source for secured or unsecured credit cards.  As their money is “for the people, by the people”, they do not have ridiculous interest rates and fees.

Say No To High Fees On Credit Cards

If you have little or no credit, do not apply for credit cards with high fees for a small unsecured credit limit.  You are better off getting some secured credit cards as you begin building your credit.  Later as you establish credit, you may apply for unsecured credit cards with no fees.

Recovery.

As a recovering shopaholic, the key to success is not to cut off all shopping sprees, but to shop responsibly. Do not spend more than you can afford, even if it is on a credit card.  A good rule of thumb is to be able to pay off the credit card within 30 days.  This way you will not be accumulating interest on the balance.   If paying off the balance within 30 days is not an option, after charging up your card, put it away until it is paid off.  Some may even consider freezing their credit cards.  The goal is to avoid debt over something like a pair of shoes and to be able to be in control of your financial future and success.   Avoid maxing out credit cards and if possible, do not use high fee credit cards that will eventually lead to financial disaster.

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Love. Bad Credit. Marriage

Bad Credit Houston

Bad Credit In Houston

In The Beginning

In today’s society people are constantly progressing in their personal lives and growing their careers.  It is now the norm to get married after college while beginning in a specific career field. During the engagement and honeymoon process people discuss only the finances of the wedding and honeymoon.

What About Those Bad Credit Skeletons Houston?

Neither the bride nor groom ever wants to discuss their debt circumstances until after the honeymoon. This is because they  have accumulated bad credit and debt typically before they met their significant other. Whether it is a shopping addiction, student loans, or medical bills,  everyone has a skeleton in their closet.  This all  leads to bad credit in Houston.  When a newlywed couple applies for a home loan in order to purchase the home of their dreams, those skeletons rear their ugly heads on the credit report. This bad credit in Houston can bring even the brightest dreams to a screeching halt.

Financial Problems Before Happily Ever After?

Before one knows it, reality has kicked the door in. This roadblock could have been avoided simply by being honest and up front in the relationship. It is better to discuss one another’s  debt before getting married.  As soon as the simple phrase “I do” is said, ones bad credit in Houston becomes a financial issue for two.  Prior to planning the wedding or honeymoon each person’s credit should be sufficient to qualify for a home loan.

Should We Really Charge Up Our Credit Cards On Our Dream Wedding?

In the optimal situation, all credit cards should be accounted for and paid to a zero balance. Avoid charging them on the “ultimate dream wedding.” The wedding and the honeymoon itself can accumulate debt if neither party is prepared for the financial expense.  Ask yourself and your fiance, “Do we really want to begin the rest of our lives in debt?”

Can We Afford Our Dream Wedding?

Citizens of the United States, on average, spend roughly $26,444 on the wedding alone.  This is according to costofwedding.com.  This statistic doesn’t even factor in the honeymoon!  The majority of the population doesn’t have a cool $30,000 lying around to blow in one day, especially when they are at the beginning of their respected careers.  This alone can lead to bad credit in Houston!

How Do We Avoid Financial Problems Before The Big Day?

Primarily, debt can ruin some marriages before they begin. Manage your debt together and be honest with each other before committing to a lifetime of stress. No one wants to wake up and worry about paying student loans belonging to their spouse, accumulated back when he or she wasn’t old enough to understand what a 20% APR was. Be honest with yourself and your partner before the credit report puts both of you to shame with added disappointment.  Save your money, save your marriage, and save your credit.

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Fit Credit 2015

 

Best Credit Repair Company Houston

Best Credit Repair Company Houston

Correcting bad credit can be compared to losing weight. It takes time, patience and is not always easy.

 

 

*Step 1: Obtaining an accurate credit report: Where can I find an actual credit score?

You may pull a credit report online, however be aware that the data will probably be correct but the score will not be accurate.

Which Credit Score is Accurate?

The only accurate credit score is usually pulled by a mortgage company or a bank. You may ask for a copy of your credit report from the bank or mortgage company at the time of a purchase, some will give it you to you others will not.

*Step 2: Verify accurate and in accurate information on the credit report

Go through your report and make sure all addresses and names are correct, make sure that all accounts reported belong to you. If there are unfamiliar accounts on the report you may be a victim of identity theft.

What if my Father has the Same Name, and His Credit Appears on my Report?

Many people with similar or identical names as other family members may experience cases of mixed identity for example Bob Smith Senior may have accounts on his credit report that do not belong to him however he notices the account belongs to his son, Bob Smith Junior.

*Step 3: Choosing the BEST credit repair company in Houston:

*Find a local company, make sure they have an office with normal office hours.

Do I Trust A Home-Run Business?

Somebody who is doing business out of their home may not have stability. You want to be able to walk into an office and meet with the representative if you have a question.

**Experience-

Use a credit repair company who has many years in the credit business, look online for reviews on the company you choose. If there are bad reviews or complaints against the company that you are not comfortable with, ask the company to elaborate upon the situation. Make your determination based on how you feel about the company’s response

**Cost

Although bargain shopping is great, you do not want to choose the best credit repair company in Houston based on the cheapest price. In this instance if you go for a discounted price you may not get results is simply a waste of time and money. Most of the best credit repair companies in Houston will offer an affordable payment plan.

**Updates

Make sure the credit repair company of your choice has a system to update you on your progress. Many clients seeking the best credit repair in Houston pay money and are not updated on their progress in a timely manner.

**Building Good Trade Lines

Credit repair is only 1 of 3 parts to having good credit. You must establish good trade lines in order to build the best credit score. Make sure your credit repair company of choice has this included in the price of services.

**Education

The credit repair company of your choice should not have a problem educating you, the goal should be to get your credit score up and give you the knowledge to maintain an elite credit score. A truly Impeccable Credit Repair company in Houston does not want you as a return client.

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Adjustable Rate Home Mortgage Loans In Houston: Good Idea?

Home Mortgage Loans HoustonWhat is an Adjustable Rate Mortgage (ARM)?

An adjustable rate mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes.

What is a 5/1 Adjustable Rate Mortgage?

A 5 year Adjustable Rate Mortgage is a loan with a fixed rate for the first 5 years.  The rate changes once a year for the remaining life of the loan as the increase in rate is based on financial market conditions.

Many Houston Homebuyers Used Adjustable Rate Mortgages To Save Money On Payments In The Past

In years past when mortgage rates were higher many homebuyers considering home mortgage loans in Houston believed this was a great option for clients that needed to save money on their payment.

Adjustable Rate Mortgages Should Not Be Used In 2011, Since Fixed Mortgage Rates Are Extremely Low

In the year of 2011 consumers should really stay away from Adjustable Rate Mortgage loans, since rates are so low in general.

Today’s Rates For Home Mortgage Loans Houston

 Today a 5/1 Adjustable Rate Mortgae rate is 2.99%,

15 year fixed mortgage loan rate is 3.39%

30 year  fixed mortgage loan rate is 4.26%.

Why Did People Purchased Adjustable Rate Mortgages In The Past?

Reason #1

People who were going to transfer their employment within the 5 year period.  People who know they are going to be relocated by their employer looked at these types of loans in the past. They knew they could take advantage of the lower payment each month instead of going with a fixed rate mortgage.

Reason #2

 The family is  certain  they will not be living in this home for more than five years.  Some families realize that they may need to upgrade or downside their residence within such time.  Children may be going to college.  Parents may be planning on having additional children.   Savings once again by purchasing an Adjustable Rate Mortgage is suited for this type of Houston Mortgage Client.

Reason #3

People were sold these adjustable rate home mortgage loans in  without clarification  on the rate increasing once  the five year term is up.  In some cases, this was explained to the client, however the urgency of improving the credit score and refinancing the home was not understood  by the client.  The outcome for the buyer is never positive when this occurs.

In Today’s Market Adjustable Rate Mortgages Are Bad Idea!

Rates are so low, the amount of risk in an Adjustable Rate Mortgage does not  justify the benefits.  Saving less than .50% on a loan per month on your rate is not worth the risk.

What Are The Risks Of An Adjustable Rate Mortgage?

What happens if you do not get that job transfer as promised?  Even worse, what happens if you are laid off  due to economic conditions?

What  Risks Can Occur At The End Of The 5 Year Adjustable Rate Mortgage

What happens if you cannot sell your house with in that five year period as you planned from the start? What happens if house values fall and you cannot unload it, simply because you do not have the funds to bring to closing to make up the difference to pay it off?

The  Most Common Problem Of Adjustable Rate Mortgages

What happens if your rate goes significantly higher due to financial market conditions.  When this occurs, if you are unable to afford the new payment as the rate increases, and are unable to improve your credit to refinance your home may end up in foreclosure. 

What Is The Best Option On A Home Mortgage Loan In Houston Today?

Your best financial move is to take a 15 or 30 year mortgage.  Know exactly what your payment is going to be. Let life’s decisions be made without adding the stress of your mortgage rate changing.  Fixed rate mortgages are the best way to go in today’s market.

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It Could Be Time For A New Home Mortgage Loan, Refinance in Houston?

Mortgage Loans Houston Listed Below Are Mortgage Rates Of The Past

Mortgage Rates in the 1980’s

 In the 1980’s interest rates were around 18%

Mortgage Rates in the 1990’s

In the 1990’s interest rates were around 10%

Mortgage Rates in the year 2000

In the year 2000 interest rates were around 8.5%

Mortgage Rates in the year 2010

In the year 2010 interest rates were around 6%

Mortgage Rates Today

Today interest rates are 4.25%.

The Above Listed Rates Are All Based On A 30 Year Mortgage Loan In Houston

What Would The Principal Payment Be On A $200,000.00 Home Today?

If the median home price is $200,000 in your area, your mortgage principal payment without taxes and insurance would be $983.88.

What Would The Principal Payment On The Same $200,000.00 Home Be In The 1980’s?

Compare the above listed figure from the 1980’s when rates were at 18%, the payment would have been $3,014.17.

What Is The Difference In Principal Payment?

The difference is $2,030.29, now that is a large amount of savings in today’s market.

Many Credit Repair Houston Clients Are Asking, “Is It Time To Purchase A New Home In Today’s Market Conditions?”

Each Consumer should evaluate their current situation prior to determining if now is the right time to purchase a new home.

National Housing Market Crisis Creates OpportunityFor New Home Buyers

We are all aware of the National Housing Market Crisis.  This Crisis has been devastating for homeowners who previously purchased mortgages on an ARM (Adjustable Rate Mortgages).

Home Values Down Since 2005

Prices of homes have fallen every year since the end of 2005. It is now 2011, homes are beginning to maintain their current values.

Many Credit Repair Houston Clients Ask This Question:

Is it true that homes prices will continue to rise and fall throughout our lifetime?

The answer is historically yes.

Taking A Closer Look At Mortgage Loan Rates

Rates are so low that you can actually afford the home that you always dreamed of at a fixed rate.

What Can My Family Afford?

Families should evaluate what they can currently afford with rates where they are in today’s market.  Do not worry about the value falling a few percent after purchase.

Family Budget Is Key

Family budget is always the key for success when making that choice to purchase the home.

Rates Will Rise Again

Rates will start going up as soon as the economy get’s moving again. Just look above and compare rates from the years past.

Renting vs New Home Purchase

Renting in today’s market is not a bad idea if you are unsure about purchasing a new home. It is a good idea to rent a home with a 6-12 month lease term.  This way you can plan your new home purchase carefully.

Consider Location When Prospecting Your New Home

 In the restaurant business location is key.  It is also key when purchasing a new home. Schools, hospitals, shopping malls, highway access are some of the key factors you need to study when purchasing a new home.

Make Sure Not To Rush Your New Home Purchase

Most families  remain  in their home for an average of 5-7 years. You don’t want to rush into this purchase, especially if your going to be there  longer than 10 years

Rates Are Projected To Stay Low For Another 1-2 Years From Now

It was just announced on August 9, 2011, rates should remain low for the next 2 years. Keep in mind, market conditions have the ability to change faster than projected.  In other words, Rates can increase at any time.

The American Dream Begins With Low Rates On Mortgage Loans In Houston

Rates are extremely low right now.  Families should begin to plan for their new home purchase in Houston. The American dream is all about owning your own home and raising your family in the best possible neighborhood. 

Take The Time To Make A List Of The Pro’s And Con’s

It is very important to take the time to sit down with your spouse or significant other and create a pro’s and con’s  list for this next journey in your life.

 With Mortgage Rates At An All Time Low, You May Be Able To Increase Your Living Space And Keep Your Current Payment

You may be wanting to upgrade from your current home.   With mortgage rates at an all time low, it may be possible to keep your current payment and increase your living space.

Take Advantage Of Mortgage Rates In The 3% Range, Refinance Into A 15 Year Fixed Mortgage Loan in Houston

Another option maybe to refinance your existing home into a 15 year mortgage.   Since rates are in the 3% range, credit repair houston clients will be saving roughly $100,000.00 along with taking 15 years off the term of the loan. 

Ask Your Loan Officer To Quote The 15 Year Rate

Ask your Loan Officer to quote the 15 year rate when purchasing your new home, or refinancing your existing home. Rates are so low credit repair houston clients may be able to fit the 15 year mortgage in your current budget.

Listed Below, Compare 15 Year Fixed to 30 Year Fixed = SAVINGS

A $200,000.00 mortgage loan at 3.5% interest, 15 Year Mortgage  Payment is  $1429.77  $17,158.00 Per year  Total for 15 Years is $257,370.00

A $200,000.00 mortgage loan at 4.25% interest,  30 Year Mortgage Payment is $983.88  $11,807.00 Per year Total for 30 years is $354,210.00

Savings = $96,840.00 by going to 15 year mortgage loan in Houston instead of 30!

Median Home Prices Are Up 4.7%

Median home prices as of July 2011, $222,000 are up from July 2010 4.7%.  It may be time to purchase!

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