Qualifying for a mortgage involves: an acceptable credit score, sufficient assets and stable income. These are to show you can support a mortgage payment, plus other liabilities. You must have a balance of all three to successfully qualify for financing. The following is what you must know when trying to qualify with “paper losses” on…
Contrary to what you may hear or read, your credit does not have to be stellar to get a mortgage. Most banks and lenders require at least a 640 credit score. However, not all lenders are created equally. Here is what you need to know if you are trying to get a mortgage with bad…
If you are like most consumers, you want to have a clear understanding of the fees associated with a mortgage. The closing process, lender fees, title fees, etc. This is so you know exactly how all the numbers add up. Here is something you need to know regarding getting title insurance when purchasing or refinancing…
If you are trying to get a mortgage, or have tried in the past, you know the process is detailed and very paperwork heavy. The following is what you should know and stay clear of. Banks do not take kindly to situations that involve scenarios that do not make sense. It has to pass…
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 in 2017 or beyond. The reality is that the mortgage industry screwed up America, and the better part of the world, and paved…
Are you looking to afford a mortgage? A 50 year mortgage may be an option, but here are some things to consider when looking at a long mortgage term. These loans are not bought and sold by Fannie Mae or Freddie Mac. They are smaller banks and portfolio lenders that offer unique financing and as…
Are you buying a home? This common mortgage mistake can end up creating more unnecessary challenges for you during the underwriting process. Here are the things you should look out for… When you are buying a home, you need to show your lender that you have a down payment and access to funds to close.…
Your ability to save money can become compromised by the financial obligations you are paying in your life. If you have a mortgage and consumer debts, this article will help you determine: Should you stay the course or take action to start getting control of your cash? The nuts and bolts of a good financial…