Q.
How do I get started buying a home?
A:
The
first step is to obtain a pre-approval from LA
Mortgage Services. Next we will show you a
simplified step-by-step guide to buying a home.
Our pre-approval process and guidance has saved
thousands of dollars for our customers in
comparison to those proceeding with our good
advice. We will help you analyze your finances
and identify a program that best fits your
personal needs.
Q.
What should I do if I get turned down for a
loan?
A:
Increasing
numbers of loan applications are finding ways to
buy their own home despite past credit problems,
a lack of a credit history or debt-to-income
ratios that fall outside of traditionally
acceptable ranges. Ask the lender for a full
explanation, and then appeal the decision in
writing.
Q.
How can I improve my credit?
A:
There
is no easy way to fix your credit rating. Any
delinquencies may remain on your report between
7-10 years. The first step is to request a copy
of your credit report and review it carefully.
If you feel that there are any charges on there
that are not yours, and then dispute them by
calling one of the agencies listed above. If you
have any outstanding accounts, we recommend you
clear them up first.
Q.
When is the best time to refinance?
A:
When
rates are lower than your original loan. if you
would like to use the equity that has built up
in your home, if you wish to decrease your
mortgage payment period, or you have an
adjustable rate and you want to convert it to a
fixed rate.
