You’re doing everything right, you’re paying your bills on time, you earn good income, and you’re applying for a mortgage with second thoughts. Maybe you’re trying to buy a new home, and something’s just not right, perhaps the proposed new payment is a financial squeeze. Paying attention to the signs means the difference between making…
To this day, there is still the general belief that in order to purchase a home, you need to have 20% down, and have good – stellar credit history. The good news is you don’t need a large down payment, your credit can be actually marginal, even “less-than-perfect” and you can still buy with competitive…
For anyone who has tried to apply for a mortgage and had student loans, they know whats it’s like to be scrutinized and questioned by the mortgage company over the validity of the those obligations. Like other forms of debt, like car loans or credit cards, student loans fall into the same classification, debt made…
If you are not a US Citizen, it can be a long and difficult road to obtain a mortgage. Many lenders won’t makes mortgages to people who don’t have social security numbers or permanent work stability. For the purposes of getting a mortgage, US Citizens and Permanent Resident Aliens are the same, with one subtle…
The housing market has certainly changed in the last six months. Many people who otherwise thought they did not have 20% equity actually do have 20% equity as the low supply of homes available in the market against the amount of determined buyers continues to drive home sales up. The newly fueled appetite for real…
Want to be 100% liable for someone else’s mortgage? Then cosign for them and you’ll be just as financially accountable for repaying the obligation as they are even though you are cosigning to simply assist the other party. When you cosign on a big-ticket item like a home loan, you are in essence lending your…
Tight lending guidelines, restrictive loan qualifying, and lack of available credit continues to dominate today’s world of mortgage lending. Despite the fact consumers need to show full income, all liabilities, explain previous job history, credit challenges and the list goes on, what many don’t realize, is there something else more ominous lenders’ have their feelers…
As consumer taking out a mortgage loan, computing a house payment can be a time-consuming process running calculations, let alone qualifying these days. What consumers don’t oftentimes realize, there’s a much easier way to calculate a house payment. Some terms to become familiar with: House Payment or rather PITI Principal-represents principal balance being paid down…