How to decide when it’s time to get a cosigner for your mortgage Securing mortgage financing with a unique scenario can be a challenging endeavor. If your income is not enough or your monthly expenses gobble up most your income a cosigner may be in order. Here is how to determine when you really need…
Most US housing markets are supporting little inventory and big demand creating a favorable environment for sellers. If you’re thinking about buying a house and you’re worried you’re buying at the top of the market look at the bigger picture… If we were to rewind the clock to 2012 everyone was petrified about purchasing a…
Fannie Mae recently announced changes to its debt-to-income ratio policy, increasing its allowance from 45% to 50% starting on July 29th. Here is what that’s going to mean for mortgage borrowers going forward… A debt-to-income ratio is the benchmark tool lenders use to determine a borrower’s ability to repay. Such things as minimum payments on car…
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…
Buying a home in a competitive market means you need to have all of your ducks in a row. You can be successful in this by putting your best foot forward before the starting gate. One way to spruce up your offer is to write a letter to the seller. All sellers have different reasons…
The mortgage industry has gone through some changes in the last three months. If you are looking to finance a home in 2017, it is important that you know what the opportunities are and how to capitalize on them. Over the next 12 months, keep these items in mind as you consider your financing arrangements:…
Costs to secure your financing are a big factor when it comes time to getting a mortgage. Knowing why your loan costs (X) dollars is critical in being able to better understand how lenders price loans in the marketplace. This is what you need to know… All loans have fees. All fees are paid for by…
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…