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Why Inspect? Check These 5 Reasons and You’ll Come Correct!

Even if you’re ready to sign the papers and close the deal on your new dream home, it’s important to make sure one more thing gets done: the home inspection. Why get a home inspection BEFORE buying the home? While it might seem like overkill, getting a home inspection performed can help you avoid five pretty major mistakes moving forward. 1. Losing Leverage The information you learn during a home inspection can help make sure that you have leverage when negotiating a deal moving forward. If you didn’t know that information before, it become more difficult to get the deal...
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Need a VA Loan in St. Louis? It’s as easy as 1, 2, 3!

If you’re a veteran, you’ve probably heard of VA loans. But do you know exactly what it takes to get one? And what the benefits are when you do? Here at Liberty Lending, we’ve got years of experience providing veterans in the St. Louis area with VA loans, so we know how to break it down. Here’s the formula for VA loans: Service Record + Credit Score + Income Level = No Down Payment, 100% Financing and Great Fixed Rates Let’s explore how everything comes together. First, this is what goes into a VA loan. Service Record When applying for...
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Everything you wanted to know about USDA loans but were afraid to ask

When applying for a loan, it can be difficult to get the information that you need to narrow down your options. Even once you’ve determined the type of loan you need, such as a USDA loan, the questions about qualifications can seem endless. Here at Liberty Lending, we want to make the mortgage process as clear as possible. Our highly-trained consultants are always ready to have a conversation that can help you figure out what works for you. If you’re interested in a USDA loan, here’s how a conversation with us might go:   Homebuyer: So I think I’m finally...
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Where were you on the night of the third?… and other questions to ask your mortgage broker

If you’ve started looking into getting a mortgage, you’ve probably realized that it’s a lot of work. But that’s no reason to worry—that’s why mortgage brokers exist. Every day they’re helping people just like you make the most of their mortgage. But before picking a partner that can help you do the same, it’s important to get a few answers. Here are some questions to ask any potential mortgage broker before you sign the dotted line. What is the application process like? Applying is more than half the battle when it comes to getting a mortgage, so you want to...
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So Many Mortgage Brokers! Eeny, Meeny, Miny, Moe…

One of the most difficult decisions you’ll possibly make when it comes to your home mortgage is the lender to select. Nowadays, there are numerous mortgage lenders ready and eager to accept your home loan application. However, just because a mortgage lender accepts your loan application doesn’t mean it’s the best for you. Since you will possibly get saddled with the mortgage for many years to come, it’s important to ensure that you look around and pick the right mortgage lender all for your loan needs. Here are several things to assist you in selecting a suitable St. Louis mortgage...
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St. Louis Vets are Seriously Underwater—and It’s Not Their Fault

With underwater homes in St. Louis and across the nation at their lowest rates in years, homeowners seem optimistic about the housing market, as any St. Louis mortgage broker would agree. However, one core group of Americans has not felt this relief, and in St. Louis, a closer look at the data tells a different story. The term “seriously underwater” is as grave as it sounds, and it applies to a shocking number of St. Louisans. “Seriously underwater” is here defined as a home where $1.25 is owed for every $1 the home is worth. In their year-end home equity...
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My credit score is low, but I don’t want a high-interest loan!

  Credit scores have a reputation for being rather complicated and frustrating. Whether or not you understand the details of how they work, it’s important to understand that credit scores determine your ability to take out loans. A bad credit score can prevent you from making important financial decisions. But before you have to worry about getting a loan in St. Louis with bad credit, let’s focus on the steps for establishing good credit.     It’s important to remember that ending up with bad credit is easier than you think. Just a couple of months of missed payments can...
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From Zero to Closing in Just 7 Steps

While it can be said that lenders have varied criteria regarding their approval or denial of loans, there are common threads between each. We’ve compiled a handy list of actions and things to be aware of during your mortgage approval process. Gather Documentation – Before applying for any type of mortgage loan, you can save time by gathering the necessary documentation beforehand. Any lending institution will have a list of required documents on their website, or they’ll have a toll-free number to call. It also helps to have a head start on documents that require some shipping or clerical work to...
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