Apply Now In this guide, we will cover bank statements in the mortgage process. We will discuss how mortgage underwriters analyze bank statements of mortgage loan applicants. The underwriter will thoroughly scrutinize bank statements during the mortgage process. Lenders want two months’ worth of bank statements. Any irregular deposits outside payroll check deposits must be…
Apply Now In this guide, we will cover pre-qualification vs pre-approval homebuyers. A pre-qualification is a general informal approval to see if the borrower qualifies for a mortgage loan. A pre-approval is more in-depth than a pre-qualification. For example, a loan officer can have a fifteen to thirty-minute interview with the applicant and determine whether…
Apply Now This blog will cover and discuss the mortgage underwriter role during the mortgage process. For borrowers ready to apply for a residential mortgage loan, there is a process they must go through, no matter which mortgage lender they choose. Once borrowers decide on a mortgage lender, the loan officer will complete and sign…
Apply Now n this article, we will discuss qualifying for a home loan after bankruptcy and foreclosure. The great news for home buyers is that they can now qualify for a home loan after bankruptcy and foreclosure with no waiting period requirements with our new NON-QM Loans. There are waiting period requirements in qualifying for…
Apply Now This article will cover buying short sale home purchase versus traditionally listed homes. A short sale is when a homeowner has a home with a loan balance that is higher than the value of their home and gets their lender to agree for them to sell their home at a discounted price. The…
This blog will discuss getting and using secured credit cards to boost your credit scores to qualify for a mortgage. Getting secured is the fastest and easiest way for mortgage borrowers to qualify for a mortgage. Many consumers with an extenuating financial event such as bankruptcy or foreclosure often do not want to get into…
Apply Now In this article, we will cover FHA multi-family-unit self-sufficiency test. Are you looking to be a homeowner and build a long-term investment strategy simultaneously? Getting a multifamily unit property is the most recommended method to achieve this. When it comes to financing, there are many ways to finance the purchase. One of the…
In this article, we will cover escrow holdback by mortgage lenders for repairs. We will discuss what an escrow holdback is on a home purchase. Home buyers often run into situations where a real estate home appraiser may not pass a home appraisal. All mortgage lenders require a home appraisal for a home purchase. Home…
Get a Fast Quote: Click Here In this article, we will cover fixing your credit to qualify for home loan to get pre-approved. Credit and income are the two most important factors in qualifying for a home loan. Homebuyers can have the best credit and credit scores, but with no documented income, they will not…
Get a Fast Quote: Click Here This article will cover understanding credit when shopping for a mortgage. Credit and Income are the two most important factors lenders will thoroughly analyze prior to granting credit to borrowers. Most borrowers believe that as long as they meet the minimum credit score requirements to qualify for a home…
Apply Now This article will cover mortgage overlays on FHA, VA, and conventional loans. The two most common home mortgage programs are government and conventional loans. Lenders must ensure borrowers meet the minimum agency mortgage guidelines of FHA, VA, USDA, Fannie Mae, and Freddie Mac. Borrowers should understand the mortgage overlays on FHA, VA, and…
This mortgage guide on Fannie Mae guidelines on conventional loans will cover the latest updates on Fannie Mae and Freddie Mac guidelines on changes in conforming loans. It will include loan limit increases in both standard median-priced areas and high-cost counties. Conventional loans are the mortgage loan of choice because borrowers are not stuck with…
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