Lending requirements are starting to loosen, and gone are the days of overly stringent mortgage underwriting. While this remains… here are five things borrowers still do in the loan process that make things more dicey. Co-mingling Gift Funds-let’s say you’re receiving gift monies from family to buy a home. You instruct your family member providing…
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Credit is the biggest hot button topic in mortgage lending by far. Most would probably agree, any time you can raise your credit score to improve your mortgage scenario, take advantage of it. Every situation is different and here’s what to be mindful if your credit needs a little love. There are three different loan…
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The challenges consumers have faced in recent years in procuring a mortgage may be coming to an end. Here are four major changes making your mortgage easier… Landlord History-until recently, in order to qualify for conventional loan financing you needed to show a history of being a landlord for the most recent last 24 months.…
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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…
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If you have an alternative income from a work-related injury or a long-term injury, the devil is in the details when it pertains to how, if or when any of your income you’re collecting could be used to get a mortgage. Things to keep in mind when applying… What We Mean By Disability Benefits Disability…
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Keeping your money in one place is vital to a mortgage transaction. Cash to close and savings post closing escrow become critically important to sealing the deal. Here is what to know if you’ve been moving money around and are applying for a mortgage… It’s An Issue For Banks Moving money around in different accounts…
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Have you decided to put off purchasing a home? If you’re worried you’re paying too much for a house- think again. Here’s why: Higher Home Prices Let’s take a pause and rewind to 2012, the unemployment rate exceeded 8%, short sales and foreclosures were rampant, consumer confidence was low, the prospectus of job growth was…
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House hunting? If your appetite for a turnkey renovated home is a flipped house, you may end up jumping through more hoops to close escrow. What Is A Flipped Home? A flipped property is a situation where the house is acquired usually by a real estate investment company (also could be an individual) and is re-offered…
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