In today’s world of mortgage lending showing enough income is paramount to qualifying. Here are some alternative income forms that can be used for a mortgage qualifying… Mortgage banks look for income to offset debt. If you’re monthly debt payments exceed your income you may have a tough time qualifying for a mortgage. Underwriting which…
How you plan and budget your finances can have a big affect on whether or not you can qualify for a home loan. Following is what you should know if you’re trying to spruce up your financial picture for a mortgage… Not all debt is created equal. For sound financial planning purposes eliminating the expenses…
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…
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…
On November 25, 2015, the Federal Housing Finance Agency announced the 2016 new loan limits. Most notably, four counties in California have increased as well as various others throughout the country. Here’s what you need to know regarding the changes… Know Your Loan Category When you apply for a mortgage to buy a home or…
It is no secret the cost of housing is expensive. Rising rents, and a strong real estate market, make it harder for first-time buyers to get a piece of the American dream. Buying a home means getting yourself credit worthy in these four areas: Credit Debt Income Assets If you do not know where you…
If you hear a lender toting they can preapprove you in just a few minutes, stop and run in the other direction- fast. A real pre approval is much more than a loan application and credit report. What to know before jumping into a home… A Traditional Pre Approval Includes The Following: you’ve submitted an…
Demand for housing remains strong as we enter this spring season. Renters are finding buying a home may even in some cases be less than renting. If you don’t have a lot of cash are looking to purchase your first home this year read on…. How Much Cash You Will Need Hint- it’s less than…