One of the biggest misconceptions in mortgage lending is that a high income can solve every mortgage qualification challenge. While income is extremely important, it cannot always make up for weaknesses in other areas of your loan application. When it comes to qualifying for a mortgage, there are three major factors lenders evaluate: income, credit…
Do you need help saving to buy a house? What you think you need and what you actually need may not be the same. Here is what you should know when saving for a home. In order to purchase a home, you need at least 3.5% for a down payment. Another option is Down…
Most people will tell you that you must have excellent credit and a big down payment to secure a larger mortgage. The reality is that while having a big chunk of cash to put down on a house is nice to have, it is not always an absolute requirement. Here is the information you should…