How’s your income? This is the first of many questions a banker is going to ask when you apply for a home loan. Here is how tax returns play a role in your ability to obtain mortgage loan financing. Generally, you need provide two years of 1040’s to a banker when applying for a home…
Obtaining financing to buy a home is undoubtedly a process of documenting, explaining and documenting some more. Here is how a car lease can be a hurdle for home buying plan. Work-around options… What You Pay Counts When you apply for a mortgage loan, a mortgage broker is going tally up total payments you make…
Trying to get a loan for a mobile home? You may be surprised learn there is financing options available for non-single-family residence homes. What to know… Your property type holds all the cards in whether or not you’ll be able to obtain competitive loan terms. For starters, you need to own the land. If you…
Each year in the wintertime interest rates tend to worsen about .25% across-the-board. Here is what it may mean for your home loan application… Beginning each year around December 5, mortgage rates typically, worsen due to heavy bond market activity and the trend continues till approximately January 15 where rates trail back down. Consumer confidence…
If you have been on the fence about buying a home or refinancing the one you already own, the 2016 FHA loan limit increases may financially benefit you. Here’s how… The Federal Housing Administration continues their mission in helping consumers realize the dream of homeownership. In today’s mortgage lending environment there’s three buckets of loan…
Planning to buy a home sometime soon? If you’re working on the down payment, know what you can and cannot do with your bank. Here are the top 4 ways to borrow the cash needed for a home… 401k/Retirements or Liquid Assets- this option remains a viable source to procure down payment funds to buy…
If you have a home-equity line of credit, or thinking about getting one, here is what you need to know to make a smart choice given today’s rate environment. Home-Equity Lines Of Credit (HELOCS) These loans are relatively simple to obtain and in exchange for a few hundred dollars of fees you can have access…
If you’re thinking about qualifying for a mortgage, here’s what you must know if you have payments with a few months left to go. Get the facts… When you apply for a mortgage loan, the lender takes in the consideration your credit score, your cash you plan to use to spend on a home, your…