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QUESTION: What are the advantages and disadvantages to an interest only loan? I like the lower payments!
February 15, 2019
QUESTION: I wanted to get an ARM loan for the lower payments since I will not have the home that long. My lender is telling me that it is harder to qualify for an ARM than a fixed rate loan?? Sounds wrong to me!
February 15, 2019

QUESTION: I have been told that credit inquiries can really lower my credit score? How much does it hurt me if I have an inquiry.

Answer:

Credit inquiries can lower your credit score but normally by only by a small amount. If you have multiple inquiries, that can lower it further but if they are for car or mortgage shopping that is also taken into account so those would not have as much affect. Credit inquiries will also fall off your credit after 120 days depending upon the credit cycle.

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