Q & A with Mortgage Loan Officer

The Asurent sat down with Amber Harding with, People’s Bank of Commerce, for a quick Q & A session on mortgage loans. What is happening in the mortgage world? Below are just a few questions we asked her. If you would like to contact her directly please click here.

Asurent What can people do to prepare for their first home purchase?

Amber Get Prequalified to know what you can afford or to get a game plan going on how you can achieve your dreams. You can let me know your goals and I will work with you to understand what needs to happen to make those a reality (examples-saving money, working on your credit score, etc.). Minimize your credit liabilities, don’t open new car loans or credit cards when trying to get prequalified for a home.

Asurent What are some ways you can boost your credit?

Amber Pay off any items that are in collections/derogatory. It was initial hurt your credit by doing this, but it will climb fast once these are paid off (you normally see a difference with in just a couple months). We work with Informative Research (credit pulling agency), they have some handy tools that allow me to show you what your credit score “could” look like (I give you examples of what it could look like within 2-6 months after payments) if you pay of certain items off.

Asurent What is the average home loan rate?

Amber Rates can change daily, and a lot gets factored into a rate. Someone’s credit score, down payment, loan to value and loan program are some of the biggies.

Asurent What is the lowest down payment percentage?

Amber For First Time Homebuyers you can go as low as 3% down (this would be for a Conventional loan), depending on our credit score.

If you are interested in knowing more about what is happening in the mortgage world or purchasing a new home, refinancing or buying your first home call Amber at 541-608-8925.

She can also be reached by clicking here