LAREDO, Texas (June 8, 2018)
- In recognition of American Housing Month, IBC Mortgage is providing consumers with valuable housing information throughout the month of June. Tips for both renters and homeowners include choosing the right housing option, getting a loan, improving your credit score, going green and saving for a down payment.
IBC Mortgage provides a variety of resources to help educate consumers on the process and options of housing, including:
The five questions to answer before buying a home
The five questions you should ask yourself before you consider buying your first home:
1. How much money have you saved?
2. How much can I afford?
3. What is your credit score?
4. Have you factored in all of the costs?
5. How long will you stay in your starter home?
An IBC Mortgage consultant will discuss each of these questions in detail to enable you to come up with an answer that will help you decide when the right time is for you to invest in the American Dream.
Ways to boost your credit
IBC Mortgage has suggestions to help you boost your credit score…
Here are some suggestions:
Set up automatic bill pay: The longer you pay your bills on time, the better your score — and you're saving trees! Think low when it comes to your credit cards and "revolving credit." Prompt payments are good, but exorbitant balances will still hurt your credit score. Also, don't be quick to say "yes" to that retailer offering you a 10-percent discount when you open a new account. Be willing to talk to a counselor. There are legitimate, nonprofit credit counselors ready to help you if you're in financial straits. Don't be ashamed to ask for help. For more information, go to www.nfcc.org.
Ways to Save
When it comes to buying a home, the money you put down today will affect your housing expenses for years to come. From developing a budget and a timeline to monitoring your expenses, and even shopping for ways to reduce your monthly expenses, IBC Mortgage has some advice on how to save up so you can make a substantial down payment — and thus save yourself some larger expenses down the road.
If you're looking to make that leap to homeownership, IBC Mortgage is ready to serve you. Visit ibcmortgage.com for more information.
IBC Mortgage is a division of International Bancshares Corporation (NASDAQ: IBOC), a $12.1 billion multi-bank financial holding company headquartered in Laredo, Texas, with 188 facilities and more than 291 ATMs serving 90 communities in Texas and Oklahoma. In 2016, IBC celebrated its 50th anniversary since opening its doors for business in 1966. IBC Bank's slogan "We Do More" reflects the bank's dedication to the growth and success of both the customers and the communities it serves. International Bancshares was ranked 19th on Forbes' prestigious list of 100 Best Banks in America in 2018. MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION. Equal Housing Lender. More information is available at ibcmortgage.com.