When it comes time to purchase or refinance a home lenders are look for a certain financial profile. Your financial profile should have these things… There is four things lenders look at when deciding whether not to grant you financing and having a balance of each will score you better terms and an easier process.…
One of more unique ways borrowers in the health care industry can get a mortgage is the doctor’s loan. Here’s how the flexible program works… One of the benefits of being a physician when it comes time to getting a mortgage is having more financial flexibility. This can help bridge the gap between renting and…
FHA loans and conventional loans remain the most popular financing type for today’s mortgage borrowers. Here’s how to determine which program makes the most financial sense for you… FHA loans are insured by the Federal Housing Administration. The program contains two forms of mortgage insurance; an upfront mortgage insurance premium calculated at 1.75% of the…
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…
Buying a rental property can be very lucrative and sound financial vestment. Here’s how to determine whether not buying a rental property with financing makes sense. Location, location, location Location for the property is critical. It is often thought a rental property is more dollars and cents transaction with less focus on location. While this…
It’s no secret interest rates are the main driver of the nation’s loan volume. Fixed rate mortgages are currently sub 4%. Here is why waiting for a better rate could be risky could move… The markets will continue to move The pricing associated with interest rates moves daily, in some cases multiple times per day.…
Many homeowners are often inundated by the amount of junk mail offers they receive each month. Here is what to think about if you’re considering refinancing with a direct-mail solicitor… Confusing pitch You receive a letter in the mailbox about a refinance offer saying the mortgage offer is a fixed rate loan with an ultra…
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…