Getting a Mortgage in Today’s Environment

Getting a Mortgage in Today’s Environment
Thank you, Sandy Melton of Century Mortgage Co.

Divorce your rate campaign!  When shopping for a mortgage, you need to know that you will be able to “perform” per the terms and conditions of your contract.  I have been originating for over 30 years, and I have worked with the largest banks in the country, owned my own company, and I must say, I am thrilled to be with Century Mortgage Company, which is the largest originator in this region.  I can say with confidence and experience that Century Mortgage has been the best decision I have made as far as my industry.  Remember, rate is one thing, but the APR (annual percentage rate) is what you are really paying.   If you got this fantastic rate with a huge bank, but you can’t close, what good did this do you.

Mortgages are a good kind of debt, and one of the only that are tax deductable.  Many of you only do this every 5 or 7  years, and remember, what you read on the internet is not gospel.  If so, we would ALL lose 30 lbs in 30 days, guaranteed.  You want to depend on someone that does this every day of their life!

Speaking of divorce, if you are finding yourself in this situation, call me and we can go over the options of refinancing.   Many folks in Kentucky qualify for “first time homebuyers” mortgages that offer down payment assistance, even though you may have just sold a house, or had to quit claim it over to an ex spouse, so don’t panic if you have the  money for a down payment, there are programs designed for your needs….as long as your credit score is over 640 and you have a steady job, you can get into a home.

Credit scores are a tricky, frustrating requirement that lenders require, and typically it must be 620 or greater.  If you or a child are trying to build a credit score, we can guide you in the right direction with the tools to accomplish your needs.  You must have three trade lines that have been active for typically a year.  A trade line is revolving credit such as a VISA card, and an installment loan such as a car loan.  Do not close your revolving credit cards, this will lower your score!

Sandie Melton
Loan Originator
Century Mortgage Company

502-753-4162 (Office)

Century Mortgage, Bruce Moore Realtor Louisville





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