This video breaks down what impacts your monthly mortgage payment and what is included in the payment. Primary factors that affect your mortgage payment: Size of loan amount Term for repayment (e.g. 30 Years) What is included in your monthly…
This video illustrates how mortgage lenders use your credit score to determine: Do you qualify for a home loan based on your Debt-to-Income ratio? The interest rate you qualify for (lowest interest rates are typically reserved for higher credit scores)…
Looking to buy a home but concerned about your credit score? Your credit score is one of the key factors in determining what type of mortgage and interest rate you qualify for. Of course, the higher your score the lower…
Having student loan debt does not automatically preclude you from qualifying for a home loan. There’s a range of home loan programs that vary in requirements. Depending on your goals, you more than likely qualify for at least one of…
Fall is arguably the best time of year for many reasons. The weather becomes cooler, the leaves begin to change, football season begins, and pumpkin-flavored everything is in abundant supply. But there’s another great reason to love fall that might…
The consumer credit reporting industry is a vital component of the American economy and the seamless transaction of business on a daily basis. GMFS, like other members in the mortgage financing industry, is committed to the effective and secure reporting…
After deciding to buy a home and getting your credit in order, what’s next? You should speak with a GMFS Mortgage Loan Officer to determine how much home you can afford. This will help give you a good picture of…
Daniel Bortz is a Realtor in Maryland, Virginia, and Washington, DC, who has written for Money magazine, Entrepreneur magazine, CNNMoney, realtor.com and more. If you’re about to embark on the home-buying process, you want to know how to buy a…