Jim The Mortgage Man Blog

Jim Pettit - The Mortgage Man Akron OHMy name is Jim, better known as “The Mortgage Man,” which stems from my 30+ years helping people get the best financing for their new home purchase or mortgage refinance.

I have been in this business a long time.

In good times, and bad.

I have basically one primary goal … home ownership with the very best financing that meets each of my client’s individual needs.

With decades of experience in executive banking and lending across the country, I have a unique perspective into all the factors that should be considered when you seek financing.

I truly understand that purchasing or refinancing a home is a major decision, and that this business is fraught with misleading information and confusing numbers.

This is the reason I strive to make certain the loan decision is made based on full understanding, with full disclosure and transparency.

Your happiness is far more valuable than a less-than-perfect mortgage. I could not sleep at night unless I knew I had done the absolute best for you, my client.

That’s why I have so many repeat clients.

And why I sleep very well.

Let’s Talk

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Tips That All Credit Card Users Must Know

TIP! It is wise to have two or three different credit cards available for your use. This helps build up your credit, particularly if you pay your cards in full monthly.

In many financial instances, it is possible for a credit card to be a lifesaver. Do you need to pay for something, but have no cash on you? No worries at all! Pay with your credit card, and there is no problem. Do you want to improve your credit score? It’s very easy with a credit card! Continue reading for more great tips.

TIP! Learn how closing the account associated with your credit card will affect you before you shut it down. Many times closing an account can lower your credit score and will show up negatively on your credit report.

Do not close credit card accounts until you understand the impact it may have. Sometimes, closing a card can have a negative impact on your credit scoring and this is something nobody wants. In addition, it’s good to keep the bank cards associated with your credit history active and in good standing.

TIP! Keep track of your purchases made by credit card to make sure that you do not spend more than you can afford. It is quite easy to lose track of what you are using your credit card for, so you should commit yourself to keeping track of all of these expenditures in either a notebook or on a spreadsheet.

Report any fraudulent charges on your credit cards as soon as you see them. Immediate action you take gives your credit card company an upper hand in catching the thief. It will also serve to make sure you are not going to be held accountable for any false charges. It is fairly simple to report erroneous charges, either with an email or phone call to the credit card company.

Credit Card

TIP! A useful tip for all consumers is to hold off making a payment to your card immediately after charging your purchase. Instead of paying right away, only pay when your statement comes in.

Don’t buy things that you can’t pay for on a credit card. Just because you desire to have a new TV, it does not mean that buying using your credit card is a good option. If you cannot pay the charges off at the end of the month, you will pay a lot of interest and may run the risk of not being able to afford the monthly payments. Make a habit of waiting 48 hours before making any large purchases on your card. Talk to the store if you still want to buy a big-ticket item after thinking it over. You may be able to get financing in the store, and many times this is a better deal than using your credit card.

TIP! A lot of people don’t get credit cards so it looks like they have no debt. Credit cards build credit, so you really should have at least one.

As it has been indicated, bank cards have a variety of uses. They are a great convenience so you don’t have to carry cash and they can be a great tool for improving your credit score. Put the information presented in this article to good use.

In Need Of Advice About Student Loans? Read This

TIP! Make it a point to be aware of all the important facets of your student loans. You need to be mindful of your balance levels, your current lenders and your repayment status of each loan.

Student loans can help to alleviate the frustration of college costs. Still, you must remember that loans are not simply given to you with no strings attached. You will have to pay this back at some point, with interest. This article will detail how to deal with your debt responsibly.

TIP! Stay in touch with your lending institution. Make sure they know your current address and phone number.

Watch for the grace period which is available to you before you are required to repay the loan. This is the amount of time you have before the lender will ask that your payments need to start. Keep this information handy and avoid penalties from forgetting your loans.

TIP! When paying off student loans, do it using a two-step process. Start by making the minimum payments of each loan.

Private financing is something that you may want to consider. Although there are a variety of public student loans, it can be difficult to obtain them due to competition and demand. These private loans are not tapped into as much, which means they contain smaller increments of money due to lack of awareness and size. Speak with people in your local area to find these types of loans, which at the very least can cover some of your expenses.

TIP! If you are considering paying off a student loan early, start with the loans with high interest rates. If you get your payments made on the loans that have the lowest or the highest, it can cost you extra in the end.

There are two steps to approach the process of paying off student loans you have taken out. First, make sure that you meet the minimum monthly payments of each individual loan. Then, those with the greatest interest should have any excess funds funneled towards them. You will reduce how much it costs in the long run.

TIP! Select a payment option that works best for your situation. Many loans offer a ten year payment plan.

Make sure your payment option fits your specific situation. Many loans offer payment over a decade. If this isn’t right for you, you may be eligible for different options. It is sometimes possible to extend the payment period at a higher interest rate. Therefore, you should pay it once you make money. On occasion, some lenders will forgive loans that have gone unpaid for decades.

TIP! Reduce your total principle by paying off your largest loans as quickly as possible. The less of that you owe, the less your interest will be.

By going over what you’re learning here, you can make sure that you know all you need to know about student loans. Finding a great loan is something that’s hard, but it’s easy with good information. Be patient and use the advice this article has given you.

Everything You Ought To Know About Home Mortgages

TIP! Avoid getting a loan for the maximum amount. The formulas used by the lender may not accurately reflect unexpected expenses that may come up in your real life.

Are you looking for information on home mortgage information? Perhaps you are unaware of the many types of mortgage loans that make home ownership more affordable. It doesn’t matter what your reasons are for reading this; these tips can improve anyone’s knowledge about home loans.

TIP! Pay off your debts before applying for a mortgage. A higher mortgage amount is possible when you have little other debt.

Most mortgages require you to make a cash down payment. Some mortgage providers use to approve applications without asking for a down payment, but most firms require it nowadays. You need to know your likely down payment before applying.

TIP! Quite a while before applying for your loan, look at your credit report. Credit requirements grow stricter every year, and you may need to work on your score before applying for a mortgage.

Adjust your budget so as to not pay out more than a third of your monthly income to a mortgage note. This will help insure that you do not run the risk of financial difficulties. You will have your budget in better shape when your payments are manageable.

Interest Rate

TIP! You should not enter into a monthly mortgage that costs you anything over 30 percent of your total income. Taking out a mortgage that eats up an excessive amount of income often leads to serious financial difficulties.

Search for the most advantageous interest terms possible. The bank’s goal is to get you to pay a very high interest rate. Don’t let them take you for all you are worth! Shop around to find the best interest rate available.

TIP! One denial is not the end of the world. There are other lenders out there you can apply to.

Prior to refinancing a loan, make sure you get all terms in writing. This ought to encompass closing costs and other fees. If the company isn’t honest or forthcoming, they aren’t the one for you.

TIP! Always shop around to get the best terms possible before finalizing any mortgage contract. Ask loved ones for recommendations, plus check out their fees and rates on their websites.

Ask those close to you to share their home mortgage wisdom. You will likely learn a lot from their prior experience. You may be able to benefit from negative experiences they have had. Talk to as many people as possible so that you get many points of view.

TIP! Know exactly what kind of home mortgage that you require. There is more than one kind of home loan.

Make comparisons between various institutions prior to selecting a lender. Check for reviews online and from your friends, and find information about their rates and hidden fees. You can choose the best one as soon as you learn more about them.

Interest Rates

TIP! Make sure you have done a little research on your chosen financier before you sign anything with them. Don’t just blindly trust in what they say to you.

Keep an eye on interest rates. Interest rates determine the amount you spend. Make sure to understand rates and realize the impact they have on monthly payments. You could pay more than you want to if you don’t pay attention.

TIP! Prior to buying a home, close some of your credit cards. Too many credit cards make you seem irresponsible, even if you don’t have too much debt on them.

Maybe you have been thinking about all different types of home mortgages but were unsure about what fits well for your situation. Thankfully, the article here gave you great tips to help guide you along. Getting the right mortgage can allow anyone to buy the home they have been dreaming of. Use these tips when looking for your dream home.