Lenders look at a variety of factors when approving you for a mortgage. Your employment is one of those major factors. In most cases, you need to be employed to get a loan. There are the few exceptions for those borrowers that live off retirement or investment funds, but most borrowers have a job. Compare […]
What Underwriters Look for in Bank Statements?
As a self-employed borrower, you may find that qualifying for bank statement loans rather than fully documented conventional loans offers you the best terms on your mortgage. If you own a small business and take hefty deductions on your income tax returns like most people, your true income is not reflected on those returns. This […]
The Pros and Cons of Mortgage Credit Certificates
First-time homebuyers that are also low-income buyers may qualify for a mortgage credit certificate. While you have to pay for the certificate, it can give you a decent tax credit, helping you to lower your tax liability and therefore the overall cost of your mortgage. Get Matched with a Lender, Click Here. If you are […]
How Long Before you Must Occupy a VA Loan Home?
The VA home loan helps veterans buy a primary home. If you use VA financing for a home, you are expected to live in it. Just how long do you have to move into the home? What are the rules? Compare Offers from Several Mortgage Lenders. Keep reading to find out. How Long do you […]
Take These Steps to Flip a House
Flipping homes is a great way to make money. You buy a rundown home, fix it, and sell it for much more than you bought it. Some say it’s complicated, but with the right steps, anyone can do it. Keep reading to learn how it’s done. Get Matched with a Lender, Click Here. Figure Out […]
Does a Pool Add Value to Your Home?
A cool pool on a hot summer day may seem like a dream come true for you, the homeowner. But do you know how it affects your home value? Many people assume pools increase a home’s value, but that’s not always the case. Get Matched with a Lender, Click Here. The Small Return on Your […]
How to Protect Your Earnest Money Deposit?
When you find your dream home and put a bid on it, you may want to include earnest money deposits as an option. This lets the seller know that you are serious about purchasing the house. Before you go and offer the deposits, or worse yet, put them down, learn how to proceed. Just like […]
What Kind of Debt Can Impact a Home Loan Eligibility?
Deciding you want to apply for a mortgage is a big step. You have to make sure your finances are in order and that a lender will look upon your loan application favorably. Many people focus on the credit score, figuring that is the factor that will make or break their deal. However, oftentimes it […]
Benefits of Bank Statement Loan Programs
Bank statement loan programs took over the traditional stated income loans. While we did not see any alternatives for people that were unable to verify their income the traditional way for a while, there are programs available now. The most common name for the program is the Bank Statement Loan and as the name suggests, […]
Who Can Gift Money for a Mortgage Down Payment?
The down payment is often the largest hurdle for new homebuyers. If you are one of them, don’t think you are out of luck. There is a way that you can get help with your down payment. You may be eligible to receive gift funds from certain people in your life. Get Matched with a […]