Debt isn’t always a bad thing. In fact, you need some debt if you want to accumulate a credit score. You need a payment history that shows lenders and the credit bureau that you can effectively handle your finances. Looking for Current Mortgage Interest Rates? Click Here. Unfortunately, not all debt is equal, though. For […]
How Much do you Have to Put Down on a Rehab Loan?
Are you thinking of buying a home that may not pass a standard appraisal? In general, this would mean that you can’t get financing, but if you take advantage of the FHA 203K loan program, you may just have yourself a deal. Looking for Current Mortgage Interest Rates? Click Here. Just like the standard FHA […]
What is Lender-Paid Mortgage Insurance?
Did you know that you have options on how you pay your Private Mortgage Insurance when you put less than 20% down on a conventional loan? Compare Offers from Several Mortgage Lenders. Most people think they have to deal with the addition to their monthly mortgage payment, but there are actually ways around it. You […]
Length of Employment Required to Qualify for a Mortgage
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 […]
Non-Qualified Mortgage Loans for Newly Self-Employed Borrowers
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 […]