• Wappingers Office
    (845) 297 4700
    (845) 297 8178
  • Lagrange Office
    (845) 485 2700
    (845) 485 2703
  • New Paltz Office
    (845) 255 6163
    (845) 255 6757
  • Commercial Real Estate Division
    (845) 297 4700
    (845) 567 8333

Home Mortgage Financing

Preparation Is Key for First-Time Home Buyers

We know that buying your first home can be very intimidating and even a bit scary. If you hope to buy a home within the next year, there are things you should be doing right now to prepare yourself for the process. In order to make the best decision for your future, it's extremely important that you are equipped with all the knowledge needed to achieve your goals. Tackling each challenge one at a time may get you there faster than you think!

Your Credit Score Might Have Just Gone Up

If you are thinking of buying a home, then one of the most important pieces of information to know is your credit score. A better score will allow you to qualify for a larger loan, as well as grant you access to better interest rates. The result is that a credit score increase could end up saving you thousands of dollars in interest payments over the course of your mortgage, regardless of if it is a new loan or an old one being refinanced! Thankfully, millions of American consumers have seen significant bumps in their score over the course of the last year as the major credit reporting agencies introduced new regulations in how they calculate credit scores. Keep reading to learn why you might want to double-check your score if you haven't done so in a while!

Co-Signing A Loan . . . What Can Go Wrong?

Have you been asked by someone to co-sign on their loan? Before saying yes, even if it is a close relative, you should be aware of the many potential consequences to your own financial situation which could result from the decision. Here are some facts that you should consider:

► As a co-signer, you are essentially taking the loan out yourself. You share in all the responsibilities that go along with the loan. The borrower couldn't get the loan without your "guarantee", so essentially the lender cares more about you than the other borrower. It directly affects your credit and your ability to qualify for your own loans during the period that the loan is outstanding.