FHA loans have gotten a bad rap in the last few years. Here is the Granddaddy Truth about FHA loans, you should really consider if you are looking for mortgage options! FHA … [Read More…]
Expectations home buyers should have in today’s mortgage environment
Getting a mortgage is every bit as arduous as you might think. The paperwork can be technical and complex. Here is what you should expect if you plan to buy a home … [Read More…]
How to score a jumbo mortgage with less than 20% down
Looking to finance a big mortgage? Here’s some tips you can take to the bank… Most jumbo investors still have tight credit guidelines. Jumbo loans are any residential mortgage sizes greater than … [Read More…]
Can I buy a house if I have a rental late payment?
No you cannot have a rental late in the last 12 months if you are gunning to buy home. Mortgage lenders may do what’s called a verification of rent (VOR)-to make sure … [Read More…]
Are Credit Reporting Services Accurate For Getting A Mortgage?
No, credit reporting service companies want you to feel like you’re in control of your credit score. Some services even allow you to run statistical tests to see what actions you can … [Read More…]
Should I Be Concerned About A Light Documentation Loan Offer?
Absolutely yes, here’s why… On January 10, 2014, qualified mortgages took shape for the entire mortgage industry mandating lenders specifically document of borrowers ability to repay. Because of of these new regulations, … [Read More…]
How To Document A Foreclosure, Short Sale Or Bankruptcy For Mortgage Lending
Getting a mortgage after foreclosure, short sale, or bankruptcy, or even a combination of the two is absolutely doable. However depending on the credit circumstance different documents could be needed for properly … [Read More…]
Can I buy a house 1 year after a short sale?
Yes under the FHA Second Chance Program. The program allows a home buyer to repurchase just 12 months after a foreclosure or short sale. In order to qualify, there must be a … [Read More…]
Why Is My Mortgage Rate On My New Loan So High?
In short risk-based pricing, the higher the risk the lender incurs the higher the mortgage rate you will be quoted on the new mortgage. This is especially true with conventional mortgages, not … [Read More…]
How do collections affect my chances of getting a mortgage loan?
Collections negatively affect your chances of getting a mortgage loan, but it’s not impossible to be successful on getting approved for a mortgage despite having previous bad debts. When you apply for … [Read More…]
