If you own a manufactured home, or if you are looking to purchase one, here is what you need to know when it comes to mortgage loan financing: Manufactured homes are not the same thing as modular homes. Manufactured homes are constructed, purchased at a dealer, and then moved to their final destination where they…
Shockingly enough people still do the things that can cause themselves heart ache when buying a home. Here’s what you need to know plan on buying a home… Your ability to buy a home rests on the numbers and documentation your mortgage lender has. If there is a change in any of these things, your…
Working on your down payment money to buy a home? Here’s something you need to know…your paycheck can work against your down payment savings plan. Buying a home requires precision planning, good income, good credit, manageable liabilities and a healthy down payment. As much as 3.5% of the purchase price can be a big factor…
Securing mortgage loan financing requires a laundry list of paperwork. Here’s a really simple tip you can take to the bank to make sure your process is easy while getting the best mortgage… Every year you gather together paperwork for doing your tax returns things like; receipts, explanations, paystubs and W-2s. 70% of this information…
Well it might appear as though getting a mortgage is easier than it was a few years ago, the process is still dicey. It is no secret in the industry the majority of loans do not close on time. Here’s what you need to know if you’re going to be getting a mortgage in the…
Credit scores play a vital role in your ability to get a home mortgage. Here’s what you need to know if you are applying with a low credit score… First things first credit scores are used to predict the likelihood of a payment default in the next 60 days. A lower credit score will result…
These things about today’s mortgage loan process will drive you crazy. Know what lenders will want…. Patriot Act This says lenders do not make loans to drug dealers, money launderers or terrorists. Obviously, 99.9% of today’s mortgage loan borrowers are completely on the up and up. However, this does not change the fact mortgage lenders…
Been turned down for a mortgage recently? Fear not, this recent change to conventional mortgages just made your chances of qualifying easier. Here is the latest … Fannie Mae recently changed their policy regarding restructured loans virtually eliminating many roadblocks. Fannie Mae had extra credit requirements in place for borrowers who had restructured mortgages in…