Give A Quick Boost To Your Credit |
November 20, 2023 |
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Hi, Home Buyer and good morning!
It's a slow week coming up with Thanksgiving here, but time doesn't stop for real estate and mortgage.
The holiday season is a popular time for first-time buyers to start a home search. We're here to support you on your path to homeownership.
One idea worth sharing is this: you can increase your success as a buyer by building up your credit score. Many people know that credit scores matter, but don't always know how to make them higher.
So, in our most recent article, "Improve Your Credit Score for Mortgage Approval,"
we partnered with our friends at StellarFi to share straightforward advice you can use to raise your credit score up and improve your success as a buyer.
Curious to learn more? Check out the full article on our blog.
Happy Homebuying!
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Dan Green
NMLS #423065
See today's mortgage rates here
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HOMEBUYER.COM STATISTIC OF THE DAY
Source: Federal Housing Administration
FHA FICO Score Distribution for FY2023:
Data based on all FHA mortgages funded in fiscal year 2023 except streamline refinance loans which do not require a credit score.
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SHORTS FROM OUR YOUTUBE
Today's story: Home builders aren't building any faster.
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Every business day, we
make a 60-second video for our customers, highlighting the latest and most important stories in mortgage and real estate.
Subscribe to our YouTube channel for this and more.
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MORTGAGE RATE CALENDAR
Upcoming events that may change the direction of mortgage rates
November 21, 2023: Existing Home Sales
November 22, 2023: Jobless Claims
November 22, 2023: Durable Goods
November 23, 2023: Markets closed for Thanksgiving
November 24, 2023: Markets close early
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FIRST-TIME HOME BUYER PROGRAMS
Status of select first-time home buyer bills in Congress
The Downpayment Toward Equity Act
A cash grant up to $25,000 for first-time, first-generation home buyers.
- Last Action in Congress: June 21, 2023
- Status: Not yet passed
- Alternative Mortgages: Conventional 100, 100% USDA
The DASH Act
A $15,000 first-time home buyer tax credit.
- Last Action in Congress: March 7, 2023
- Status: Not yet passed
- Alternative Mortgages: HomeReady, HomePossible
The HELPER Act
A 100% mortgage for teachers & first responders.
- Last Action in Congress: May 10, 2023
- Status: Not yet passed
- Alternative Mortgages: Conventional 100, VA Mortgage
The LIFT Act
A mortgage that builds home equity faster.
- Last Action in Congress: June 22, 2023
- Status: Not yet passed
- Alternative Mortgages: None
The Middle Class Mortgage Insurance Premium Act
A bill to make mortgage insurance tax deductions permanent for homeowners earning less than $100,000/$200,000.
- Last Action in Congress: June 13, 2023
- Status: Not yet passed
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