Alpha Mortgage

read moreBefore deciding on what terms they will offer you a loan (which they base on their "risk"), lenders want to know two things about you: your ability to pay back the loan, and your willingness to pay back the loan. For the first, they look at your income-to-debt obligation ratio. For your willingness to pay back the loan, they consult your credit score. The most widely used credit scores are FICO scores, which were developed by Fair Isaac & Company, Inc. (and they're named after their inventor!).

read moreYour credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, its important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home.

read moreWith interest rates at all time lows, there's no better time to refinance to lower your monthly payment, decrease the term of your loan, access cash or consolidate debt. What is the most common misconception about refinancing? MYTH: The lender you make your mortgage payment to holds your home loan. FACT: Most home loans are owned by Fannie, Freddie, FHA or VA. The lender you make your mortgage payment to most likely only provides customer service for your loan, such as collecting payments. When considering refinancing, regardless of where you go, it's most likely going to be a new loan with all new paperwork even if using your current mortgage lender.

read moreCredit report errors occur for a number of reasons but they can all have a negative impact on your eligibility for any future credit. It's important to stay on top of your credit report to avoid any mistakes made by the creditors and credit bureaus -Equifax, Experian and TransUnion. No matter what the reason, the erroneous information could reflect poorly on your credit file, thus causing approval problems when the time comes to apply for a job or obtain a mortgage. If you find errors, no matter how small, be sure you get them fixed, and make sure that you contact all three credit bureaus with your change.

read moreSince we live in an automated world, it's not surprising that your ability to repay your mortgage boils down to just one number. Credit reporting agencies use your history of paying all types of loans to create this score. Each of the three credit reporting agencies has its own formula for building your credit score. The original FICO model was developed by Fair Isaac and Company. While Experian still calls its score "FICO", TransUnion calls its score "Beacon" and Equifax uses "Empirica." Did you know?

read moreEven though it may seem like it sometimes, there are not as many loan options as there are borrowers! We can help you select the loan program that will fit your situation the best. There are several questions to ask yourself as you review your options. We will treat you with the respect due an esteemed customer and give you the personal service you deserve. We understand the big commitment you are making in buying a home, refinancing a mortgage, or cashing out your home equity. So we make a commitment to you: we will help you qualify, apply and be approved for the ideal mortgage for you.

read moreWhether you are a first-time buyer or a repeat buyer, we can help by explaining all loan options and programs that could be financially beneficial. There are far too many variables in the lending business to guarantee a one-size-fits-all transaction. We will gather all of your financial information, determine which loan is right for you and walk through the lending process together. From approval to closing, Alpha Mortgage will make sure purchasing your home, vacation home or investment property is a stress-free experience.