St Louis Real Estate Search

Nine Credit Score Myths

Tyler Frank,Paramount MortgageNMLS ID 942420

We hear lots of advice these days about how to improve a credit score. However, not all advice is good advice. Here are nine credit score myths that could actually do more harm than good:

Myth #1 – Closing out old, inactive accounts will […]

Important Changes to FHA Home Loans Now In Effect

Tyler Frank,Paramount MortgageNMLS ID 942420

The Federal Housing Authority (FHA) has made some changes for 2014, which took effect January 1 and affect FHA home loans. First and foremost, you will see a drop in the maximum allowable loan. In the St. Louis metro area, for example, the new max loan amount for […]

What is QM?

Tyler Frank,Paramount MortgageNMLS ID 942420

On January 10, 2014 the mortgage world is going to go through some changes. These changes will affect consumers and their ability to qualify for a home loan. Is it doom and gloom? Not really.

A “Qualified Mortgage” or QM, is something we at Paramount Mortgage […]

St Louis Mortgage Companies Seeing Fixed Rate Jumbo Mortgages Make Comeback

Tyler Frank,Paramount MortgageNMLS ID 942420

St Louis Mortgage companies were not making many 30-year, fixed-rate jumbo mortgages a year ago, but now many St Louis Mortgage companies are offering fixed jumbos – with very competitive rates, including my firm, Paramount Mortgage.

As interest rates start to rise, homeowners are thinking they […]

How Long Do You Have To Wait To Get A Home Loan After Foreclosure, Short Sale or Bankruptcy?

Tyler Frank,Paramount MortgageNMLS ID 942420

Since the real estate market crash, millions of homeowners have lost their homes in a foreclosure, been forced to do a short sale to get out from a home they were underwater on or file bankruptcy as a result of financial hardship as a result of the the […]

Survey Shows One-Third Of Homebuyers Lack Info Needed To Get Mortgage

One-third of Homebuyers Surveyed Are Ill-prepared to Get a Mortgage

Tyler Frank,Paramount MortgageNMLS ID 942420

According to a survey recently conducted by Zillow, many homebuyers are really not armed with the information they should have before attempting to obtain a mortgage.  For example, over one-third (34 percent)  of the prospective homebuyers surveyed did […]

Real Estate Recovery "On Its Way"

Tyler Frank,Paramount MortgageNMLS ID 942420

“The (real estate) recovery has been much more like the tortoise than the hare,” said Stephen Blank, a senior resident fellow of the Washington-based Urban Land Institute. “We’ve become used to slow relief. But we have finally turned the corner.”

Real estate markets on both coasts in places […]

Housing Boom Era Home Buying Strategies Returning

Tyler Frank,Paramount MortgageNMLS ID 942420

Housing Boom Era Type Home Buying Tactics Reappearing in St Louis Real Estate Market

During the home buying frenzy of the housing boom, which peaked in 2006, it was common to see home buyers, in an effort to beat out other buyers fighting for the same home, […]

Home Prices Set To Rise, Thanks To The Fed

Tyler Frank,Paramount MortgageNMLS ID 942420

Home Prices Nationwide Shooting Up Faster Than Anyone Thought Possible Not Long Ago

The US housing market has broken out of a deep slump, and prices are shooting up faster than anyone thought possible a year ago.

Prices of existing homes rose 10% in February nationally from […]

Free Credit Scores As A Result of New Act

Tyler Frank,Paramount MortgageNMLS ID 942420

Free Credit Scores are Not Part of the Free Annual Credit Report Consumers Currently Receive

Consumers currently have the right to request their free credit report once a year, but a credit report does not include free credit scores. These two items are often confused to be […]