Many employers have furloughed employees due to work capacity, financial constraints other reasons. If you’re furloughed with your current job more than likely you’re going to have a difficult time getting a mortgage. While each individual company might have a different guideline, most lenders from a blanket standpoint have a requirement in place that you…
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Should you refinance your house with the random mortgage company offering you what appears to be too good to be true? Maybe…read on. One of the things which play in the mortgage industry is lenders popping up at of nowhere when interest rates drop. Quick buck companies that solely rely on refinance activity arrive out…
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Many experts will tell you shouldn’t refinance unless you’re saving 1% lower in rate. With today’s interest rates being on average below 3% here’s how you should determine whether refinancing for you and your family makes sense or not… Stop paying attention to all of the internet articles and all the so-called financial experts out…
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The VA mortgage is hands-down the best mortgage loan program. Here’s what you need to know if you’re a US military veteran and you’re eligible for VA financing… The VA does not grant loans, but they guarantee loans. The Depart of Veteran’s Affairs guarantees the lender against payment default. VA loans typically have much lower…
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Interest rates are a big driver of the mortgage market. People purchasing houses and refinancing houses are taking advantage of today’s historically low rates. Here are some fundamentals you should be aware of when it comes to interest rates and what the market may or may not do going forward… First things first what drives…
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Not always, but traditionally, self-employed borrowers have a hard time securing mortgage loan financing. If you are filing self-employed and you are trying to get qualified for mortgage financing here are some solid tips to keep in mind… Most mortgage lenders are going to require you to provide 2 years of federal tax returns. They…
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Mortgage lenders sometimes take an overly gun shy approach to how a mortgage loan is originated. One such example of this is if you have a first and a second mortgage on your home. Let us say your goal is to refinance and to not get any money out but just combine the first and…
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One of the things that have changed since the coronavirus has taken shape is how mortgage lenders are viewing appraisals. If you’re buying or refinancing a home here’s what you need to know… If you have a very good strong financial package typically 20% equity with good credit score and sufficient savings in the bank…
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