Stephen Gallo's (stephengallo) Blog

 Is it Worth Paying Points and Fees? The refinancing of home mortgages caught on like wildfire in the 1990s with the advent of the no-cost loan. Once people realized they could save thousands of dollars and refinance their home to get a better interest rate, and do this with no out-of-pocket cost...

 Payment History has a 35% impact. Paying debt on time and in full has a positive impact, and late payments, judgments and charge-offs have a negative impact.  Outstanding Credit Balances have a 30% impact. Debt ratio of outstanding balance to available credit is important.  Keeping that below 50...

 Here Is A Step-By-Step Walkthrough 1.   Pre-qualification - Lenders are encouraging buyers to get pre-qualified for a mortgage even before they begin looking for a house. This way, buyers know ahead of time how much house they can afford. 2.   Loan Search - Although buyers often use a lender rec...

The most important factor to consider when selling your home is the price.  How much is your home worth?  You don't want to overprice.  The  longer your home is on the market, the less appealing it becomes.  After just 3-4 weeks interest in your home fades.  Pricing boils down to supply and deman...

Keep in mind the actual lender will pull their own credit report at closing, and if your credit scores have dropped, you may no longer qualify for the rate that was underwritten and the final approval may come back with a higher rate. Unfortunately, all lenders qualify you by your credit score as...

Important questions to consider before you buy a home. Exactly how much of a home can I buy?By getting pre-approval before you make an offer, you will be certain of the amount of the loan you will qualify for.COMPANY NAME can provide you with full credit approval in advance, which will allow you ...

 Increasing Your Credit ScoreGood credit translates to lower interest rates for borrowers. Here are just a few quick tips that can help put you in a better position under the discerning eye of an underwriter!•·  Do you have past due balances that have been neglected? If they are showing up on you...

Market Update*Monday, November 12th, 2007From Stephen J. Gallohttp://www.sgallo4loans.com/  Last Week In Review"I CAN SEE CLEARLY NOW, THE RAIN IS GONE..." Johnny Nash hit number one on the charts with this classic tune in 1972...and 35 years later, Fed Chairman Big Ben Bernanke is singing the sa...