Raleigh Mortgage News

As a client or partner - you have access MY circle of TOP professionals. 

I am very selective about the professionals I recommend to my clients.  I choose to work with those who are dedicated to serving at the highest level and I only want to work with those that are the most ethical and knowledgeable in their area of expertise.

The professionals in my circle include: realtors, insurance agents, home inspectors, financial counsel, financial planning,  home improvement, home staging, only to name a name a few.  I never want to recommend someone that I don’t know and trust. My circle of top professionals will always have your best interest at heart.

Check out my preferred vendor links on my website.

Experience the Difference with The Natalya Hill Team 

The Triangle's Premier Lender & Real Estate Expert

 

 

Posted by Natalya Hill on July 30th, 2018 4:00 PM
Posted by Natalya Hill on April 29th, 2018 7:37 PM

Ever wonder what happens to your credit score if multiple lenders all do a credit check? This question comes up a lot so let’s get down to the basics on how mortgage credit inquiries really affect your credit score.

First things first: The effect of a mortgage inquiry on your credit score is small.

Here’s why: Your FICO® Score is typically used (credit scores rank from 300-850) with a mortgage credit inquiry estimated to lower your credit score a mere 3-5 points. This small hit to your credit should fade away in within a year if everything else on your credit report remains in good shape.

  • 65% of that score is linked to two things—your payment history and your credit utilization (the ratio of your credit card balance to your actual credit limits)
  • 15% of your credit score is tied to your credit history (how long you’ve had credit in your name)
  • 10% is linked to the type of credit that’s maintained (usually auto and mortgage loans fall into this category)
  • The remaining 10% is any new credit inquiries/new credit you may have

Quick tip: Shop for your home loan within a 14-day period.

If you shop for your home loan within this 2-week period, you can have your credit checked by an unlimited number of lenders within this time with potentially only one single credit score penalty. With mortgage applications, you only get one approval for that specific home loan, unlike if you apply for three credit cards, you can get approved and use all three cards. Make sense?

Additional information: Credit inquiries can be confusing, so learn the basics.

A credit inquiry is a formal request to review your credit report through the three credit bureaus (Experian, Equifax, and TransUnion). Credit inquiries come in a variety of forms but here are the most common:

  • A credit check for a mortgage loan
  • A credit check for an auto loan
  • A credit check for a credit card application
  • A credit check for a store credit card, or consumer loan

Each of these credit inquiry types receive different treatment by the credit bureaus. For example, a credit card application carries more weight than a mortgage loan and can cripple a credit score. This is because credit card debts tend to be higher over time, which weakens your overall credit position. Mortgage debt, by contrast, eventually pays down to $0

Posted by Natalya Hill on April 19th, 2018 5:19 PM

 

6 ways to boost your credit score

Pay more than the minimum. Paying the minimum just covers the interest. Paying over the minimum can help credit scores.

Pay on time. Late payments can hurt credit scores. For help, sign up for notifications from creditors, your bank or online services.

Keep balances below 30% of your limit. If your limit is $3,000, your credit score can suffer if the balance hits $900. Make sure balances are below 30% of the limit on all credit cards.

Close unused accounts, but keep an old one. Even if you’re not using cards, lenders worry you might. Close unused accounts, but keep an old one, and pay it promptly. Responsible behavior over time can raise credit scores.

Come back to cash. Use cash for gas, beverages, even groceries. Watch your credit card statements shrink.

Don’t open new credit cards and don’t make big purchases. Wait until after you close on your home.

When you need a mortgage, or you want to refinance for a lower rate or to pay for improvements, please text, email or call us any time…. Have a great day!

P.S.: Mortgage rates are still low, but don’t wait to contact us about today’s excellent options.

Posted by Natalya Hill on April 18th, 2018 10:43 AM

In my EOS (Explanation of Services), I state clearly that my mission is to provide “an enjoyable and referable experience.” Part of this includes making my clients aware of pitfalls in the mortgage process; Do’s and Don’ts like, return document requests as soon as possible and don’t quit your job. This education also includes how to protect themselves from mortgage wire fraud.

It is always better to be safe than sorry. This short video provides helpful information on how to avoid becoming a victim of wire fraud when buying or selling a home. Protect yourself!


https://youtu.be/ek4TwC9owwY

Posted in:Buying a home
Posted by Natalya Hill on October 11th, 2017 2:28 PM



FACT:  It is in your best interest to have a Buyer Agent represent you whether you purchase a new or existing home.

Myth:  If I go directly to the Builder Rep or Listing Agent - I will get a better deal. WRONG.  Did you know the Builder Rep and Listing Agent are being paid by the Seller to represent them and get them the best deal for the Seller/Builder? Did you know if you go directly to the Builder Rep or Listing Agent they will most likely get paid double commission for NOT representing you? 

Fact: The Listing Agent/Builder Reps are there to sell the Seller or Builder's home at the BEST price for the Seller/Builder.  They will not tell you what is wrong with house, the lot, or the neighborhood.  I have seen this happen many times over the years.  They cannot advise you when making an offer on things such as price, closing costs, upgrades, and other important things.

Question: So why would you NOT want a Buyer's Agent to represent you (and not the Seller) when there is no cost to you? 

Note: The Commission has already been set by Seller/Builder with the Listing Agent/Builder Rep.  The Seller pays the Buyer Agent.  So if you do not have a Buyer Agent then the Listing or Builder Rep makes more.  Talk about taxation without representation. 

If you do not have a Buyer's Agent and would like a Recommendation, then please Call/Email me. Mobile: 919-614-0388 or Email:  natalyahill@bellsouth.net.  I will connect you with an Experienced Buyer's Agent that can help you find your dream home and negotiate the BEST deal for you at NO Cost to you!! 



  

Posted in:General
Posted by Natalya Hill on September 6th, 2014 9:09 AM

What is Rate Alert?  It is a service some lenders use that provides them with real time MBS (Mortgage Backed Securities) Trading updates as to what is going on with the Bond Market. There are other companies that offer a similar service.  These type companies charge the lender to provide the updates and news feeds but it is well worth it for their clients.
  

Why is it important for the lender to use a service like this?  It provides the lender with information on what is going on in the market so they can advise their clients to lock or float their rate.  This allows the client to lock into the best interest rate at the best time.  Many times it can save their client thousands of dollars.

If you have questions, please feel free to contact me at: natalyahill@bellsouth.net or call 919-614-0388.

Posted in:General
Posted by Natalya Hill on April 21st, 2014 4:19 PM
Posted in:General
Posted by Natalya Hill on December 4th, 2013 12:29 PM

I recently found this video that although humorous reflects many truths.  Hope you enjoy!  http://youtu.be/4rif6r0vwyE

 

Posted in:General
Posted by Natalya Hill on June 22nd, 2013 6:03 PM
Posted in:General
Posted by Natalya Hill on June 1st, 2013 11:00 PM