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Mortgage Avdvice | The Keenan Carter Group, Keller Williams Realty CC Blog

Friday, June 21, 2024   /   by Dick Keenan

Worried About Mortgage Rates? Control What You Can

You've likely been hearing a lot about mortgage rates lately, especially with recent discussions about the Federal Reserve’s (the Fed) meetings. However, it’s important to understand that the Fed doesn’t directly set mortgage rates, despite what some headlines suggest.

Mortgage rates are influenced by various factors, including geopolitical events, inflation, and the overall economy. Predicting when these elements will align to bring rates down is quite challenging.

Instead of trying to time the market, focus on what you can control to make your homebuying plans a reality. Here’s what you can do:

Your Credit Score

Your credit score significantly impacts your mortgage rate. As CNET notes:

“You can’t control the economic factors influencing interest rates. But you can get the best rate for your situation, and improving your credit score is the right place to start. Lenders look at your credit score to decide whether to approve you for a . ...

  home buyer, home purchase, home ownership, housing affordability, mortgage rates, mortgage, for home buyers, lending, mortgage avdvice

Friday, December 11, 2020   /   by Traci Pimentel

6 Things To Avoid After Applying For A Mortgage

Once you've found the right home and applied for a mortgage loan, there are some KEY things to avoid so you continue to qualify for your loan when it's time to close on your home.
#1. DON'T Deposit Any Cash Into Your Bank Accounts Before Speaking
To Your Banker Or Loan Officer.

While normally we celebrate depositing money into an account, you don't want to put any 'sizable' amount of funds in an account while you're waiting for a mortgage loan.  Unless you can prove the deposit is legit, that additional money can lead to the Underwriter denying your loan.
#2. DO NOT Make Any Large Purchases, Like A New Car
Or Furniture For Your Home!

We know it's tempting to want a new ride to park in your new garage or want to furnish your new pad ... WAIT!!!  This can affect both your credit score and debt to income ratio, which can cause the amount you initially qualified for to be reduced.  Not to mention, racking up additional debt before factoring in a mortgage payment m ...

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The Keenan Carter Group
Richard Keenan And Narlene Carter Keenan
350 James Way, Ste 130
Pismo Beach, CA 93449
805-773-7711
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Based on information from California Regional Multiple Listing Service, Inc. as of July 14, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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