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  Types of Down Payment Assistance. Down Payment assistance programs allow you to buy a home with no money down. There are two primary types of programs one is a state sponsored program like MSHDA the other is a program offered by your lending institution. Gold Star Financial offers a conventional product called  Gold Star…

  When buying a home Closing Costs should be one of the main things to consider so I wanted to put down a brief summary of items that you will need to save up for. This is just a general purpose example. If your buying a condo r a new build you can have additional…

  The other day a Client asked me what was included in their payment? I replied everything. They asked again and I realized that although my Answer was correct they still didn’t know what I was talking about so here it is, the break down and a full explanation. You might here a mortgage professional…

  Payment history can have the largest impact on your credit scores. Making on time payments is the most important aspect of your score. Credit is King! Your credit works on a what have you done for me lately basis. The most recent late payment counts against you the most. A late payment in the…

Credit Utilization. Of the main area’s that determine your Credit scores Credit utilization is one of the most important. There are two types of debt, revolving i.e. credit cards and installment i.e. a home or car loan. The main focus here is your credit card debt. You need to know what your credit limits are and what…

Bank Statements do’s and don’ts . Bank statements are the number one pain point if you are buying a house. Your loan officer is going to ask for them over and over again and if you don’t provide the right stuff up front its going to be frustrating. Lets take a minute to understand exactly what…

When is an Escrow account needed? If you put less than 20% down you will be required to have an escrow account to pay your taxes and homeowners insurance. An escrow account is account your mortgage servicer will hold on your behalf to collect monthly amounts (included with your payment) to pay your taxes and…

Down Payment Sources. When purchasing a new home one of the biggest items you need to understand is your down payment. There are many different types of mortgage products that offer down payments as low as zero to as much as you feel comfortable with. We will stick with the most common trends for the…