Most mortgages require you to have steady employment for a minimum of two years, which leaves out the people that started their business within the last year or so. Does this mean you are forced to rent and wait until your business is in operation for at least 2 years before you can apply for […]
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 […]
Things You Must Do Immediately After Buying a House
You signed on the dotted line and have the keys to your first home in your hands. You feel like you are on top of the world until you turn the keys in the lock and wonder, now what? Looking for Current Mortgage Interest Rates? Click Here. Moving into a new home is exciting and […]
What Documents do You Need to Buy a Home?
You are ready to buy a home – congratulations! Before you do, you’ll need to get yourself approved for a mortgage. This step is one of the most important steps you’ll take in this process, as it will determine how much the home actually costs you in the end. Looking for Current Mortgage Interest Rates? […]
How Much Cash Reserves Should You have for a Mortgage?
Applying for a mortgage means more than getting approved for the loan and closing on it. You have to have money to close it and not always money for the closing costs. Sometimes you’ll need what a lender calls cash reserves. This is money in some type of liquid account that you could access should […]
Is it Better to Payoff Mortgage or Invest?
You have a little bit of extra money and you don’t know what to do with it. Should you pay off your mortgage or invest the money? Looking for Current Mortgage Interest Rates? Click Here. There is no cut and dry answer. It’s not a one-size-fits-all approach. Instead, you have to weigh both sides of […]
How Much do First Time Home Buyers Have to Put Down?
The largest struggle first-time homebuyers often have is coming up with a down payment. Because they don’t have the benefit of equity in an existing home, they have to come up with cold-hard cash. Years ago, it used to be that without 20% down on a home, you couldn’t get a mortgage. Luckily, today that’s […]