Blog

Sep 22, 2020
Did you know that lenders typically like to see one to two years of stable income history before you can qualify for a mortgage? In this video, our CEO and founder, Scott Gordon, discusses preparing early for your mortgage—long before you even start shopping. Some topics he discusses: Building/repairing your credit score Avoiding large credit […]
Sep 17, 2020
home interior
Your savings account is only one of several factors that determine how much money a mortgage lender lets you borrow. In this video, Open Mortgage CEO and founder, Scott Gordon, discusses ways to increase your buying power. Some topics he covers: Understanding debt to income ratio How your credit score can impact your interest rate […]
Sep 10, 2020
While low interest rates are known for attracting new homebuyers and driving up mortgage applications, they can also affect the housing market. Much like other aspects of the economy, an increase in demand can lead to a rise in prices.  Fortunately, it’s not all bad news for buyers who are still planning to take advantage […]
Sep 8, 2020
older man with backpack
While the act of retiring won’t directly impact your credit score, the accompanying changes to your financial habits can. Cutting back on your credit accounts and reducing your income could substantially lower your borrowing power.  Even if taking on new debt is not a part of your retirement plan, unplanned expenses are not uncommon during […]
Sep 3, 2020
In homes across the country, going back to school this fall will rely on virtual learning, at least for a while. It’s not an ideal scenario for most families, but embracing a proactive approach can ease some concerns.  Before this unusual school year gets underway, spend some time creating spaces in your home that eliminate […]
Sep 1, 2020
Older couple
Longtime homeowners may be content with their home just the way it is, but home equity shouldn’t be overlooked as retirement nears. The ability to utilize tools such as a Home Equity Conversion Mortgage (HECM) or a Home Equity Line of Credit (HELOC) can be a valuable resource to support and maintain retirement plans.  While […]
Aug 27, 2020
home interior
The type of home you want now might not be what you need later in life. In this video, our CEO and founder, Scott Gordon, discusses looking for a home that fits your wants now and offers the flexibility to grow with your future needs. Some of the topics he covers: Planning for children or […]
Aug 25, 2020
Owning a home comes with more financial responsibilities than just your monthly mortgage payments. In this video, our CEO and founder, Scott Gordon, discusses important expenses that come with buying a home. Some of the topics he covers: Unexpected maintenance issues Property tax and insurance requirements Working with your lender to find the best solutions […]
Aug 20, 2020
Foreclosure Sign
Foreclosures are one of the worst experiences a homeowner can have. In this video, our CEO and founder, Scott Gordon, discusses ways to be a responsible homeowner and increase your chances of avoiding foreclosure. Some of the topics he covers: Forbearance as a helpful tool during temporary financial hardship Contacting your lender immediately if you […]
Aug 18, 2020
woman holding a We're Open sign
Buying a home takes preparation and documentation, regardless of the circumstances. Self-employed mortgage applicants may consider the task even more daunting. However, the process remains foundationally the same, even for entrepreneurs and small business owners.  Begin your self-employed house hunt with a clear understanding of what your lender will be looking for and how your […]
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