I’ve been sitting in my office pondering the back of our “Corporate Identity” card, the one with our name/logo on the front, and our mission, vision, and values on the back.
See the attached video on how to raise your credit scores fast!!
5 Tips to Raise Your Credit Scores Fast!
http://www.youtube.com/watch?v=CQyK0vWMYHQ
Gary Bussard
Envoy Mortgage
There's nothing more exciting than opening the door to your first new home and knowing that it's actually yours, that you actually own it! No landlord bothering you about every little thing. No silly rules about what colors you can paint or what renovations you want to make. Finally you can do whatever you want to do in your home!And while this is a great feeling, and the pride you feel is natural and well deserved, don't allow yourself to get too carried away with your newfound freedom. You worked hard to earn this opportunity and you don't want to potentially jeopardize your investment by letting your emotions get the better of you.If you've recently bought your first home or you plan to do so soon, take a few moments to think about the practical side of home ownership before you start making any major changes or renovations. Doing this will help ensure that your first home becomes the personalized place you always wanted and worked so hard to get.Get properly insured – Before you decide to build or tear down anything, be sure that you are properly insured. Even if you enjoyed the full $8,000 tax credit for first-time home buyers (or the full $6,500 tax credit now available to qualified "repeat" buyers), sit down with your insurance provider and make sure you're covered on all fronts before you do anything. It doesn't make sense to spend your tax money upgrading your home if you're not protected in advance.Maintenance before makeover – It's true that you no longer have a landlord looking over your shoulder for every little thing. But, you also don't have a landlord to turn to if something should go wrong. So, before you think about beautifying your new home, think first about fortifying it. Invest in necessary repairs first and avoid surprises down the road.Go with the pros – When the time does comes to make those changes, be sure to hire the best, most qualified people. This doesn't mean you can't paint or do the little things that can make a big difference. But when it comes to the big stuff, hire the pros for the best results and to avoid injury. Remember, your new home is an investment and it deserves the highest care and attention you can give it.
We can help you find your new home and help with the financing! Give us a call at
(314) 993-6690 for more information.
Here are a few websites that will help you find the best deals on services or products and let you keep more cash in your pocket.InsuranceRates.com. This new site from the folks at InsWeb.com lets you shop for auto insurance rates without divulging too much personal information. Insurance expert Kimberly Lankford says the site provides quotes from a lot more companies than InsWeb did. It also lets you request your top priority for the quotes -- established company, multi-policy discount, ability to buy online or just price.MiNeeds.com. If you're looking for a contractor, lawyer, photographer or any service provider, you could get out the phone book and call every listing to get price quotes. Or you could post your need on MiNeeds.com and get bids back from local providers, along with credentials, ratings, reviews and more. This site helps take the hassle out of finding affordable service professionals. However, MiNeeds.com really caters only to major markets (although its cities by state list includes practically every city).Mr. Free Stuff. The name pretty much says it all: The site lists offers for free stuff daily. What we really like is the site's blog, which has loads of ideas on how to get or do things for free – such as free date ideas, free ways to burglar-proof your house and free things to do in Orlando.Netted. Sign up at this site, which launched in February 2010, to get free daily e-mails that highlight Web sites, smartphone applications and services that make life better. Many of the recommended online tools will help you save money, but be forewarned that Netted isn't dedicated solely to discovering personal-finance related sites. But that's okay -- saving money isn't the only thing that makes life better.eDeals.com. This coupon code site isn't new, but it just teamed up in February with direct marketing company Valpak to provide printable, local coupons. Shoppers click on the printable coupons tab at eDeals.com, which recognizes their location and provides coupons for services and restaurants in that area.Be sure to give us a call or check out our website: www.4stlloans.com for current mortgage rates and information or call us at (314) 993-6690.
You're probably up to your neck by now in forms and paperwork as the April 15th income tax deadline approaches. Maybe you've already completed your taxes, paid your bill, or are awaiting your refund check. Either way, now is the perfect time to revisit the extended and expanded Home Buyer's Tax Credit.Why? Because now, as you calculate your tax bill or your refund, you can finally see in real terms just how beneficial a tax credit of up to $8,000 can be to your bottom line.Here's the basics:Qualified 2009 and 2010 first-time home buyers can get up to 10% of the home's purchase price or a maximum of $8,000. In November 2009, legislation extended a tax credit of up to $6,500 (or up 10% of the home's purchase price) to long-time residents of the same primary residence if they purchase a new main home. To qualify, eligible taxpayers must show that they lived in their previous homes for a five-consecutive-year period during the eight-year period ending on the closing date of the new home.Important details to remember:1) You don't have to pay it back (as long as you stay in your qualified home for at least 36 months).2) If you qualify for the credit, you can still apply it to this year's taxes, even if you've already filed your returns, or save it for your 2010 returns.3) This is a true tax credit, not a deduction. If you qualify for the full credit, there will be an actual dollar-for-dollar reduction of up to $8,000 (or up to $6,500 for qualified repeat buyers) on your tax bill now or in 2010.4) New income qualification limits have been put in place that expanded the pool of qualified buyers.5) If you purchased a qualified home or plan to after reading this article, you must have a contract in place by April 30, 2010 (with closing to take place by June 30, 2010), so don't wait!There are, of course, other details and qualification requirements and restrictions that you'll need to consider. But don't hesitate to give us a call if you have any questions. Also, if you happen to have your completed 2009 tax return handy, we'll help you calculate how much money you can get if you purchase a home and qualify for the full credit.
The Fed is meeting December 15th and 16th, and its actions could impact home loan rates! Don't Wait. Call me before the Fed acts so we can review your situation and determine if there's anything you need to do.
(314) 993-6690
To begin with, it's an awfully big investment - potentially, the biggest you'll ever make - and making the wrong choices can make it even more expensive. But it can also be one of the best and most satisfying decisions you'll ever make. So how to make sure you're making the right choices? Fortunately, there are some general guidelines you can follow that help ensure you're making a good decision.
One of the first things you should do when contemplating buying a home is get to know your local real estate market. Check out listings, both online and in the paper. Go to a bunch of open houses to see what's available in different price ranges around what you think you might be able to pay. At this point, you're not really looking for a home, you're getting a feel for what your money will buy.
Ask around, talk to friends who've bought a house, get a buyer's agent to represent you. In most states, the realtor's fees are paid by the seller, so there's no reason for you not to get one - plus they're supposed to look out for your interests.
Think carefully about this. A big yard is nice if you have kids or a dog, but will require more work to maintain. A fixer-upper may sound attractive, but how handy are you with tools? Those do-it-yourself shows and guidebooks make it look easy, but the unavoidable rule of any kind of home repairs are the unexpected little problems that inevitably crop up and which the books said nothing about. Don't expect a big lifestyle change just because you're buying a house - choose something that fits the way you live now, with a few enhancements.
How much house can you afford? The general guideline is that you can spend 28 percent of your monthly pre-tax household income on a mortgage payment, including taxes and insurance. But do you want to spend that much? Would you be happier with less house and more to spend on things like vacations or saving for retirement? You don't want to tie up so much in your house that it's crowding out the other things you want in life.
What else are you likely to buy in the next few years? Is your car getting old? Are you planning to start a family? Are you or your spouse thinking about going back to school? And don't forget home maintenance and repairs - a new roof, septic field or furnace can set you back thousands of dollars, in addition to the regular maintenance and occasional repairs all homes need. And the older the home, the more you need to allow for.
Yes, you might miss a great bargain now and then, but it's not likely. There are a lot of homes on the market right now. Some real estate agents will tell you that when you find a house you like, you should buy it. Of course they do. They want to sell you a house. The fact is, even if you miss out on this house, you'll more than likely find others that you like just as much, if not more, particularly in a buyers' market like we have today.
You can purchase this from one of the three major credit reporting agencies - Equifax, Experion and Transunion. You'll need to pay for the score itself - only your credit history is available once a year without charge. Once you have your score, you can see what average mortgage rates are for people in your state with your credit rating, which will help you in shopping for a mortgage. You can check with www.Myfico.com to see what the average rate is for someone with your credit score and see how rates in your state compare to others.
You don't want to just shop around for a house, you want to shop around for a mortgage as well. You'll want to get prequalified, so you'll know how much you can borrow and at what interest rate, as well as being able to make a concrete offer as soon as you find the house you like. But also, you want to find a lender that offers the best terms you can get on a mortgage. Compare loan offers from several lenders, be sure to consider closing costs and be leery of signing any agreement until you're ready to commit.
A mortgage broker can sort through a wide range of lenders to help you find he best offer. You'll typically pay a slightly higher interest rate than if you found the lender yourself - that's how the broker gets paid - but a broker's greater expertise and resources might still be able to get you a better rate than you could find on your own, particularly if you have blemished credit.
Yes, it's an investment in that you'll have a lot of money tied up in it, but don't look at it as something that's going to make a profit. First and foremost, it's a residence. Besides, there are other places you can put your money that historically outperform real estate. Better to do that than sink extra money into a bigger house in hopes you can sell it for a fat profit a few years down the line.
I am both an Agent and a Broker - I can Save you money!! Call me at
314-993-6690.
If you're thinking about buying a home or refinancing your current mortgage, you're probably at least somewhat familiar with points. Basically, paying points allows you to get a lower interest rate. In essence, you're paying some of the interest up front, so you don't have to pay as much over the life of the loan.
It's a fairly straightforward concept, but one that can be confusing for a lot of borrowers. Part of this is because mortgages can be fairly complex transactions, with a lot of other fees and terminology involved, and points are just another thing to keep track of. But the bigger challenge tends to knowing whether or not it's worthwhile to pay for points in the first place.
A point one percentage point - that's where the name comes from. When you take out a mortgage, either to purchase or refinance, each point you buy costs you 1 percent of the loan total - or $10 per $1,000 of the mortgage value. In return, each point you pay reduces your interest rate by a certain amount - usually 1/8th of a percent, but that can vary from lender to lender.
So assuming you're taking out a $250,000 mortgage, each point will cost you $2,500. So if the lender is offering a 5.25 percent interest rate, paying two points would cost you $5,000 and enable you to bring the rate down to 5.00 percent, based on a reduction of 1/8th a percent for each point paid. As a result, your monthly mortgage payment is reduced.
But do you want to do this? The main question is, will you remain in the house long enough to make it worthwhile? That is, how long will it take to reach the "break even" point, where the savings on your monthly mortgage payments equal what you paid in points?
The answer is typically a long time, unless you're getting more than a 1/8th of a percent reduction on each point. In the example above, it would take you 130 months - almost 11 years - to recover the $5,000 you paid in points, based on a savings of $38.46 cents in interest each month (based on the example above, a 5.00 percent rate would produce a monthly payment of $1,342.05). For many, that may seem like a relatively small savings over a long time, particularly in light of the big chunk of money you're paying up front for points.
However, it's not quite that simple. The lower interest rate also enables you to pay down the principal more rapidly. To find out how quickly, you can use an amortization table, which is commonly offered along with many mortgage calculators, such as the ones offered at right on this site. Running the numbers on this loan, you can see that after 130 months, the balance">remaining balance on the 5.00 percent loan would be $1,618 less than on the 5.25 percent loan. So in reality, you'll hit the "break even" point a few years sooner that a straightforward calculation would suggest.
There are other factors involved as well, such as the deductions you can take on your taxes for mortgage interest payments, which will affect the final numbers. (Since points are essentially interest, you can deduct those as well, but only for the year when you close on the mortgage - you can't spread them out over the life of the loan.) But generally, you'll need to be in the home about seven or eight years to make it worthwhile to buy points.
It's generally not a good idea to buy points if you're not putting at least 20 percent down on your home purchase or have a loan-to-value ratio of 80 percent or less on a refinance. Otherwise, you're probably better off putting any money you might spend on points toward your down payment, to eliminate the need for private mortgage insurance or hasten the day you can get rid of it. Since private mortgage insurance typically costs about half a percent of your original loan value per year, the potential savings are typically greater than what you might save by paying points.
Please Call me with any questions! Gary Bussard 314-993-6690
Thinking about buying your first home? There's a lot of good reasons to do so right now - bargain prices, low mortgage interest rates and that $8,000 first-time homebuyer tax credit. But for the first-time homebuyer, it can be intimidating.
Ask around, talk to friends who've bought a house, get a buyers agent to represent you. In most states, the realtor's fees are paid by the seller, so there's no reason for you not to get one - plus they're supposed to look out for your interests. If you are searching for one, call us at 314-993-6023!
You can purchase this from one of the three major credit reporting agencies - Equifax, Experion and Transunion. You'll need to pay for the score itself - only your credit history is available once a year without charge. Once you have your score, you can see what average mortgage rates are for people in your state with your credit rating, which will help you in shopping for a mortgage. You can check with www.Myfico.com to see what the average rate is for someone with your credit score and see how rates in your state compare to others. Give Envoy Mortgage a call at 314-993-6690 and ask for Gary Bussard -
A Mortgage Broker like Gary Bussard at Envoy Mortgage, can sort through a wide range of lenders to help you find he best offer. You'll typically pay a slightly higher interest rate than if you found the lender yourself - that's how the broker gets paid - but a broker's greater expertise and resources might still be able to get you a better rate than you could find on your own, particularly if you have blemished credit.
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