What is my FICO Score and Why Does it Matter When I’m Buying A House?

If you’re thinking of buying a home in the Colorado Springs area, and you’re not paying cash (and how many of us are doing that?), you will need to know your FICO score. The FICO score is the most widely used measure of credit worthiness in the U.S. and it is the primary factor lenders consider when you apply for a mortgage. FICO was first introduc...
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What is Title Insurance and Why You Absolutely Must Have It.

Title insurance is just one of the many things that appear on your home buying settlement sheet, but it’s also one of the most important. The Colorado Springs property you are buying has probably gone through several changes of ownership over the years (unless it’s new construction). One of the necessary procedures during the home buying process is...
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Choose Your Colorado Springs Title Insurance Company Wisely

When buying or selling your Colorado Springs home you most likely do the appropriate research before choosing your real estate agent, your lender, your moving company and others. But did you know that you also have the right to choose your title company? In our previous posts we explained the importance of title insurance and how the costs are dete...
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How to Assess Title Insurance Rates and Fees for your Colorado Springs Home

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  In our last blog post we talked about the necessity of buying title insurance for your home purchase .  Now, we want to discuss the cost of title insurance, how it is calculated and how a little legwork on your part can save you money. The title insurance industry is unique in that regulation by the state serves as a natural check on pr...
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How are Title Costs Determined?

The title insurance industry is unique in that regulation by the state serves as a natural check on profits. Rates by title companies are ultimately set in response to competition in the marketplace. However, if the competition does not lead to fair rates, the state steps in stating that rates cannot be “excessive, inadequate, or unfairly discrimin...
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How to Improve Your Credit Score and Get the Best Mortgage Rates

As part of your Colorado Springs home buying process, you will mostly likely be applying for a mortgage. And one of the most important components lenders will consider is your FICO credit score. There are many factors that contribute to that score—some of them seemingly counterintuitive. For example, when you open a new account, your score is negat...
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Keep Your Eyes Open During the Final Walk-Through

You’ve found your dream home…the offer was accepted…the loan is secured…your inspector has given the thumbs up…and you’re about to sign the closing papers. There’s one more important step I urge you not to overlook before you receive the keys: the final walk-through. This should be done the day before, or even the day of, your closing. The final wa...
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Credit Dings Might NOT Stop Your Home Buying Dreams

Applying for a mortgage can be one of the more frustrating aspects of buying your Colorado Springs home. And if you’ve suffered a bump in the road credit wise, you may be hesitant even to try to obtain a home loan. But, fear not! Armed with some knowledge and a bit of patience, you can join the ranks of homeowners in the Colorado Springs area. Cred...
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Everything You Need to Know About Radon

You've found your home, you've written an offer, it's been accepted and you are “Under Contract”. Now it's time to find out what the real condition of this property is. In order to accomplish this you are going to want to do a "Property Inspection". When you schedule the inspection, you should be asked to decide if you want the inspector to pe...
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