⏩How To Increase Your Preapproval When Buying A House - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-c79hNpA2Gf4.html ✅Get connected with us or to a local expert in your market at www.theeducatedhomebuyer.com/expert
Another video on point... 5 years before buying in 2021, I got out of debt, invested/saved and spent wisely and my credit was on the high point. When it came to get my home, all processes with lender were fast and on point. My lender even mentioned that I was the model borrower and they wished more borrowers were like me. I ended up getting great service and even lower fees and pmi due to doing the work prior to even applying for a mortgage. Thanks guys for all the knowledge. I am a homeowner now but still listening cause there is always that golden nugget of information that is dropped.
I have a 780 FICO-8 and the interest rate on all of my cards is 29%+ I'll only take out consumer debt if it's interest free these days .. 30% will crush you
Thoughts on CPI report? Seems like this deficit spending is seriously strong upward pressure on prices. I know yall have expressed the view that inflation should tick down first half 24 so just curious. Obviously it's only one month.
Big picture we think the January CPI figures will prove to be noise but you have to play the cards you're being dealt. We now only have 1 PCE and 1 CPI report prior the the March meeting. Even if both were amazingly low, it shouldn't be enough to force the Fed off their intended path of holding at the next meeting. So, the question now is May or June (no April meeting). Good chance we get enough softening before May to get a cut but it will all be about the data between now and then. To get a cut, we need improving PCE, not just flat at the current levels. BTW, deficit spending can put pressure on treasuries but over the long run has been shown to drastically reduce productivity and economic growth which should lead to lower inflation despite the fact that excessive supply of treasuries with limited buyer demand could/would push rates higher. Bottom line - it's all clear as mud right now.
If i have a 734 (credit karma) and I want to go conventional, is it worth waiting to buy so i can get a better score? Or will it not really effect the rate I get?
You can definitely do a conventional loan with a 734. There will be some amount of loan level price adjustments since the tiers no longer stop at 740+. You have 740-759, 760-779 and 780+. How much of a difference will depend on your down payment. At 5% down, a 734 FICO would have a .875 point adjustment. If you jump over 740, that drops to .625. At 760, it’s better still at .500 and the best tier of 780+ only pays .250. The bottom line is your best case savings if you jumped all the way to 780+ is .625 points, or roughly .125% in rate. With that, it’s probably not enough of a difference to put off a purchase if you’ve already decided now is the right time for you to buy. When you get preapproved, ask your loan officer to review your credit report with you and see if there are any easy moves you could make to get you over 740 or 760. Good luck with your purchase and thanks for watching!
