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Tag: credit

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Home Buying: Between Offer and Close There’s a Lot to Do

  • Posted on August 30, 2019July 26, 2022
  • by BrightDime

This is the 4th entry in our Home Buying series. There are links to the other entries at the end of this article. Buying a home can be a long,…

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  • Glossary

appraisal

  • Posted on August 29, 2019July 26, 2022
  • by BrightDime

An appraisal is a neutral third party’s estimate of the value of a specific asset. Appraisals in the home buying process are performed by professional, often licensed or certified, appraisers…

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  • Uncategorized

Mortgage Loan Estimates

  • Posted on August 23, 2019July 26, 2022
  • by BrightDime

When you apply for a mortgage it can be really hard to keep track of all of the different jargon and options (we have some help here.) Different lenders may…

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  • Uncategorized

Mortgage Pre-Approval: What It Means

  • Posted on August 23, 2019July 26, 2022
  • by BrightDime

Pre-approval. Mortgage pre-approval is a common first step to getting a mortgage, and shows sellers you’re serious about buying a home. You don’t have to have a specific home picked…

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  • Uncategorized

What You CAN Borrow Isn’t What You SHOULD Borrow

  • Posted on August 23, 2019July 26, 2022
  • by BrightDime

It can be hard to get a loan. Whether it’s a mortgage, a student loan, an auto loan, or even a credit card, getting a loan can be difficult. And…

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  • Glossary

underwriting

  • Posted on August 22, 2019July 26, 2022
  • by BrightDime

Underwriting is the process a lender undergoes to determine if a potential loan is an acceptable credit risk i.e. is the borrower likely to repay the loan? An underwriter will look…

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  • Video

Webinar: Debt – The Struggle is Real

  • Posted on August 1, 2019July 26, 2022
  • by BrightDime

Debt. It’s easy to build and hard to get rid of. We break down the different types, which details matter, and how to make a plan to pay off your…

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  • Glossary

collateral

  • Posted on July 3, 2019July 26, 2022
  • by BrightDime

Collateral is any item(s) of value (assets) designated as security to a lender when you take a secured loan. In the event that you’re unable to make payments, the lender…

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  • Glossary

installment loans

  • Posted on July 3, 2019July 26, 2022
  • by BrightDime

An installment loan is a lump sum borrowed all at once and re-payed over a fixed period of time.  Payments (known as installments) are typically monthly, but can vary depending on the…

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  • Glossary

secured debt

  • Posted on July 3, 2019July 26, 2022
  • by BrightDime

Secured debt is a loan backed by assets (collateral), such as a home or car which “secures the loan” with an item that the lenders can take ownership of and…

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