The Mortgage Learning Center

One of our passions is education. We believe that knowledge is power. Since buying a house is likely the largest financial decision you make in your lifetime, it is important that you feel like you have a handle on it. While we prefer to sit down with you in person when you are buying your first home, we also felt it was important to create a place on our website where you could get all the information in one place. From credit scoring, to interest rates, closing costs, down payments, how to structure your contract and just about any subject relating to home buying or obtaining a home loan, we have it covered. Enjoy our vast library of material but don’t forget to get with us in person so we can educate you as it relates to your own individual situation.

Mortgage Calculators

Use Our Free Mortgage Calculators (familyga.com/mortgage-calculators)

Access our free mortgage calculator to determine your monthly housing payment and amortization schedule, including principal, interest, PMI, taxes, insurance and HOA fees. You can also leverage these additional free loan calculator tools: Loan Affordability Calculator, DTI Calculator, Interest Only Calculator and Loan Comparison Calculator. Try them now!

Mortgage Tips Videos

Watch Our Free Mortgage Tips Videos (familyga.com/mortgage-tips)

Access our free mortgage tips video library including topics such as: interest rates, housing market updates, loan scenarios and comparison examples and other mortgage loan how-to’s.

Credit Resources

Access Our Credit Repair Resources (familyga.com/credit-repair)

To get the truly free report that you are entitled to each year, go to www.annualcreditreport.com. There are many that give you a free report if you sign up for xyz services. This site is strictly for you to order what you’re entitled to. It is entirely your choice whether you order all three credit file disclosures at the same time or order one now and others later. The advantage of ordering all three at the same time is that you can compare them. (However, you will not be eligible for another free credit file disclosure from that particular credit reporting agency for 12 months.) On the other hand, the advantage of ordering one now and others later (for example, one credit file disclosure every four months) is that you can keep track of any changes or new information that may appear on your credit report. Keep in mind that you will not get your score this way (they are not free) but you will know if there is anything “fishy” going on.

ABC’s of Credit Scoring

When you apply for credit – whether for a credit card, a car loan, or a mortgage – lenders want to know what risk they’d take by loaning money to you. FICO scores are the credit scores most lenders use to determine your credit risk. You have three FICO scores, one for each of the three credit bureaus – Experian, TransUnion, and Equifax. Each score is based on information the credit bureau keeps on file about you. As this information changes, your credit scores tend to change as well. Your 3 FICO scores affect both how much and what loan terms (interest rate, etc.) lenders will offer you at any given time. Taking steps to improve your FICO scores can help you qualify for better rates from lenders.

For a complete description of what makes up your score, we have provided you a link within myFICO.com to assist you in better understanding your score. I call it the rules to the game! If you know the rules, it is much easier to play and play well. It’s about time someone shared! Go to www.myfico.com.

Credit Tips – Blog Posts

Read our Credit-Related Blog Posts (familyga.com/category/credit/)

Read all about Credit as it applies to home mortgages in this dedicated blog post section. Here you’ll find everything you need to know on reports, scores, debt, credit cards, deferments, payments, student loans, repairs, disputes, inquiries and more.