Paramount Mortgage - Lender's Blog

5 Mistakes that can Hurt your Credit Score

1. Paying More Than 30 Days Late
Late payments can hurt a credit score, but what a lot of people don’t realize is that everyone gets a 30-day grace period before a lender can report delinquency to the credit bureaus. Even if you get hit with a late-payment fee from your credit card issuer, you can still save your score if you pay within this grace period.

Top 5 Financial Reasons to Own a Home

1. Homeownership is a form of forced savings – Paying the mortgage each month allows the homeowner to build equity in their home that they can tap into later in life for renovations, to pay off high-interest credit card debt, or even send a child to college. As a renter, the landlord is the person with that equity.

Thank You, Veterans!

November is widely known as the month to give thanks. Before we gather around the table to express our gratitude for family, food, friends and all that we have, we pause to give a special “thank you” to those who have served. After all, we owe our freedom to their commitment and sacrifice.

How Much Home Can 200k Buy in Every State

According to Zillow, the median price for a house is $200,400, up 7.4% over last year. So, how big of a house can one afford with a mortgage of $200,400? The chart below from howmuch.net answers this question on a sliding color-coded scale. Each state is broken into a grid with 25 boxes, representing 2,500 square feet – that’s a large home with at least 3 bedrooms and 3 bathrooms. Green boxes indicate affordability and orange and red boxes mean it’s expensive.

A Little Mortgage / Real Estate Humor

 

Monstrous Credit Mistakes: 5 Scary Credit Moves

Be afraid. Be very afraid. In recent blogs, we’ve been exploring some scary homeowner experiences, from creepy creatures to ghostly sounds. Today, we’re stepping into the truly frightening realm of low credit scores.

Best Small Cities to Raise a Family

Missouri figures prominently in this list of the best small cities to raise a family in America – with three cities in the top ten! Lee’s Summit came in second, while O’Fallon and St. Charles took third and 10th, respectively. These cities offer good employment opportunities and are relatively affordable, and scored well when it comes to childcare costs.

Things That Go Bump in the Night

Friday the 13th passed last week, and Halloween looms on the spooky horizon. Surely scary movies, haunted hayrides and frightening stories are on your mind. We even discussed frightful houseguests in a recent blog that may have sent chills up the homeowner’s spine.

The Hours Americans Work to Pay a Mortgage

Many people define the American dream as owning your own home, having a comfortable lifestyle, healthy children, and a secure retirement. But the ability to afford a home varies by location and earnings. This makes apples-to-apples comparisons across the country very difficult.

Best Time of Year to Buy Starter Home

Historically, one time of year stands out above the rest with starter home inventory generally higher and prices typically lower. According to a new Inventory and Price Watch report from Trulia, the best time of year to buy a starter home is fall, or between October 1 and December 31. During this time, 70 of the largest 100 U.S. metros see peak levels of starter home inventory, and home prices begin to fall, eventually hitting their annual lows in January through March.

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