Prepare for Your Purchase: How to Get Ready to Buy a Home

Becoming a homeowner can be thrilling, but it can also be stressful if you are not prepared. Follow the tips below to make finding your dream home an easy and fulfilling experience.

Know Your Credit Score

Your credit score plays an important role in qualifying for a mortgage. Knowing your score and correcting any errors on your report will help you achieve the lowest mortgage interest rate possible. You are able to view your credit report from the three major credit bureaus free once annually, and if you notice a problem, you can dispute it by contacting the bureau directly. Your credit report will not include your actual FICO score, however, you can obtain this for a small fee from each of the bureaus.

Find Out What You Can Afford

Looking for a home without knowing what you can afford can lead to disappointment. Getting in touch with a local, dedicated Cambria Mortgage consultant can help you determine how much house you can afford and the monthly payment you feel comfortable with. Once armed with that knowledge, the process of looking at homes will be much less stressful.

Start Saving

Once you have your credit in line and know what you can afford, it is time to think about your down payment. A popular choice is to have 20% of the home price available for the down payment as that will save you from paying for private mortgage insurance (PMI), however, this is not the only option for homebuyers. There are multiple options for down payments at a lower percentage and your Cambria Mortgage consultant can work with you on options and give you a better idea of a target to save towards.

Get Preapproved for Your Mortgage

With the spring housing market heating up, many buyers are finding the homes they are interested in have multiple offers. In this situation being preapproved by Cambria Mortgage can make all the difference. In fact, in certain low inventory environments, it is common that a seller will not accept an offer without a preapproval. Getting your preapproval can be completed quickly and there is no cost or obligation. Show the sellers that you have been working with a Mortgage Consultant and are ready to make the purchase.

Call Cambria Mortgage

To get started, call Cambria® Mortgage™ at 952-942-0110 or visit Our team of experts will provide personal, hometown service with sound advice and impeccable attention to detail at every step of the process.

Back to Basics: How to Create (and Stick to) a Budget

For many, the recent global health crisis has thrown us a financial curveball. With any budget, and especially with the amount of uncertainty at large, it’s important to periodically examine your finances to make sure you are optimizing your assets and preparing for the future. If you do not currently have a budget, this is a great place to start. Read on for tips to create, and live by, a budget.

Preparing to Purchase: 5 Things to Do to Get Ready to Purchase Your New Home

Buying a new home is an exciting prospect. The spring and summer housing market is heating up and rates are low ‒ you are ready to take the leap…right?! If you are feeling compelled to ‒ or maybe just pondering the idea of ‒ making the move into a new home purchase, make sure you don’t hit any potential bumps along way by following our tips below.

Tips to Maximize Your Credit Score

When looking at your financial portfolio, credit score is a vital piece of the equation. Maintaining a solid credit score is not difficult, but it does require management. If you have had struggles with your credit in the past, it could take some time to rebuild, but it is a worthwhile effort. Here are some tips to help you maintain, or repair, your credit score.