“If you are a first-time buyer, you will be required to go through a homeownership education program,” adds Tabitha Mazzara, director of operations at MBANC, a mortgage lender.
“They’re going to have to up their budgets,” says Mayer Dallal, managing director at mortgage lender MBANC.
“Interest rates are going to keep creeping up, and home prices may either continue to rise or may flatten, but I don’t see them going down anytime soon. A budget that was reasonable a couple of months ago may not be as interest rates climb.”
“It gives customers better control… [and] allows them to access more services,” said Desh Weragoda
chief technology officer for MBANC, a specialized mortgage lender for self-employed business owners and investors. MBANC uses open banking technology to allow customers to share their financial data more easily.
“The immediate thing that comes to mind is people don’t trust it right now,” he said.
“And even if people did trust it, exchanging crypto is a bit difficult. Think about the processes you have to go through just to take money and turn it into some type of crypto — it’s kind of intimidating and it’s a big hurdle.”
You can’t improve your score if you don’t know what it is. “Pull a copy of your credit report from each of the three major national credit bureaus: Equifax, Experian, and TransUnion,”
says Mayer Dallal, managing director at MBANC. “It’s free once a year. Then, review each report to see what”s hurting or helping your score.”