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Articles Tagged: Credit

Home Buyers Guide Mortgages & Financing

Your FICO score and how it affects your mortgage

January 15, 2021

Your FICO score

Are you about to apply for a mortgage loan in order to buy a home? If so, you may be curious about your FICO credit score and how this might affect your financing.

Here’s a look at how FICO scores can affect your mortgage and ways that you can boost your score to ensure your mortgage application is approved.

What is a FICO Score?

The Fair Isaac Corporation (FICO) is the country’s leading producer of credit scoring information and the primary source most lenders will check to assess how much risk you present. FICO combines information from credit bureaus such as TransUnion, Experian and Equifax and produces a score ranging from 300 to 850. The the better your credit history, the higher your score, and the lower the risk you present to lenders.Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Credit, FICO Scores

7 things to avoid after applying for a mortgage

November 5, 2020

7 Things To Avoid After Applying for a Mortgage!

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home.

But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan. Following is a list of 7 things you shouldn’t do after applying for a mortgage! Some may seem obvious, but some may not!Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Credit, FICO Scores

Applying for a mortgage? Be prepared for these questions

July 28, 2020

Applying for a mortgage? Be prepared for these questions

When you apply for a mortgage, you expect your lender to have some questions. But the truth is, your lender is going to have a lot of questions — and if you know what to expect before you start the application process, all of those questions can feel a lot less jarring and invasive.

A recent article from Realtor.com outlined a variety of questions you should expect when applying for a mortgage, including:Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Credit, FICO Scores, Home Loans

Are mortgage myths holding you back from buying a home?

September 5, 2019

Getting a mortgage might be more attainable than you originally believed.

A recent survey from Fannie Mae finds that a huge percentage of Americans are overestimating what it takes to secure a mortgage — and those misconceptions about mortgage qualifications could be holding people back from purchasing their dream home.

Fannie Mae’s survey aimed at exploring how well consumers understand the basic requirements for obtaining a mortgage. And what they found were a lot of misconceptions. Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Credit, Down Payment, FICO Scores, Home Loans

Past Bankruptcy? You could buy a home sooner than you think

June 12, 2018

Dealing with a Past Bankruptcy? You Can Still Buy A Home—And Sooner Than You Might Think

In the past 6 years, more than 5 million Americans filed for bankruptcy. And while many people believe that filing for bankruptcy causes long-term financial ruin — and will keep them from ever being able to purchase a home — it turns out that might not be the case.

According to The Cost of Bankruptcy, a recent study from Lending Tree, within a year, 43 percent of people with a bankruptcy on their record are able to get their credit score to 640 or higher, which is the credit level typically necessary to qualify for a home loan. Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Bankruptcy, Credit, FICO Scores, Home Loans

No… You do not need a 20% down payment to buy a house

February 26, 2018

You do not need 20% down to buy a house.The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still confused about what is required to qualify for a home mortgage loan in today’s housing market.

According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In reality, there are many loans written with a down payment of 3.5% or less.

Many renters may actually be able to enter the housing market sooner than they imagined with new programs that have emerged allowing less cash out of pocket, such as an FHA loan with as little as 3.5 percent down.

And, if you’re planning to buy a primary residence in Green Valley or Sahuarita, you may qualify for a USDA loan, which offers great interest rates and $0 down payment options. This is a great option for anyone on a fixed income or first-time buyers who want to limit their out-of-pocket expense. For veterans, be sure to investigate a $0 down payment VA backed loan.

Filed Under: Tips for Home Buyers Tagged With: Credit, Downpayment, Home Loans

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"Russ was always very responsive and returned calls in timely manner. Was extremely Calm and rational when going gets jiggy. Keeps any drama from becoming dramatic. His experience in executive management is an asset when dealing with the variety of challenges related to closing the sale. I Highly recommend him to handle complicated transactions. "
- M.L., Tucson AZ
"He is very personable, knowledgeable and reliable. Anytime we had a question or concern, he was right there with the answer. Our buyers were from out of state and had only 1 week to see the house and schedule all inspections. It could have been very stressful for us, but Russ took care of everything in professional and timely manner."
- S.S., Green Valley AZ
"Very professional approach to all aspects of our transaction. His handling of this purchase allowed us to have total confidence that we were being represented by the best real estate agent for us. I would have no reservations in recommending Russ Fortuno to anyone else looking for a RealEstate Agent! "
- D.L., Green Valley AZ
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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