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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 months of missed payments can put your... Read More

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... Read More

What Happens After You’ve Signed The Dotted Line?   So you finally did it – you got the loan you needed to make the impossible possible, whatever your possible might be. But what happens now? Before doing anything, it’s a good idea to start thinking about how you’re going to repay this loan in as little time as possible. Because not having a plan (or not sticking to it) will cost you in the long run. If you’re finding yourself without a solid path forward, check out the tips below for quickly repaying loans in a way that won’t rack up... Read More

  To understand the impact of loans on your credit score, we must first take a step back to understand the foundation of loans and credit. When someone borrows a loan, they agree to make a certain number of payments for a certain amount by a particular date each month. A credit score represents the amount of trust lenders have that someone will be able to repay their debts and financial obligations on time. A good, or higher, score suggests they are very timely with payments, whereas a bad score suggests they are not very trustworthy with repaying what is... Read More

A large part of a successful partnership between house buyers and mortgage consultants hinges on communication. For the mortgage broker, it means sharing all relevant details about home ownership with the client from start to finish. For the client, it means asking the right questions to ensure you’re gaining all the information you can before signing on the dotted line. We’ve put together a list of the five most relevant questions you can ask your mortgage broker. What will be the interest rate? This question is an important one, and the answer depends on a number of factors. It isn’t... Read More

Now is a good time to buy a home in the United States. The average mortgage rates in 2016 were around 3.5 percent, an all-time low. By comparison, mortgage rates exceeded 15 percent in the 1990s and hovered around 8 percent throughout the 2000s. The housing market has recovered from the difficulties of the recent recession; in other words, it is a buyer’s market. As a future homeowner, you can take even more steps to ensuring your rates are as favorable as possible. This requires planning far in advance of signing, however, so we provide steps you can start taking... Read More

So you’re ready to buy yourself a new home. But before you can start picking out the carpet and the color of your walls, you’ve got to get your finances in order. And unless you’re lucky enough to be paying in cash, you’ll need to get some help with financing. Here at Liberty Lending, we’re ready to help you with every step of the process. A good place to start? This step-by-step guide.   Step One: See What You Can Borrow First, you’ve got to figure out not only what you need to borrow, but what you can borrow. Determining... Read More

There’s no way around it – getting a mortgage is a big decision. And like most big decisions, there are a lot of things to consider. So where do you start? And how do you make sure that you’re doing things the right way? At first, you might consider going to a bank. After all, you already trust your bank with your money. But when you think about all of the intricacies that come with getting a mortgage, you’ll want more than just an institution you can trust. You’ll want something personal. You’ll want help from people that not only... Read More