If you have a new mortgage, you are probably anxious for it to show up on your credit report. Housing debt can have a positive impact on your credit score, especially as you start making payments on time. Many lenders look at your housing debt as an indication of your level of financial … Continue about When Will Your New Mortgage Show on Your Credit Report?
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Buying a Home
House or Condo: Which Should you Buy?
You know you are ready to become a homeowner, but have you given it careful thought? Have you thought about not only where you want to live, but also what type of property you want to purchase? This … Continue about House or Condo: Which Should you Buy?
Can a Purchase Price be Higher Than the Appraised Value?
You found the home you want to buy, but find out that the appraised value is less than you bid on the home. Are you out of luck or can you still buy the home?Compare Offers from Several Mortgage … Continue about Can a Purchase Price be Higher Than the Appraised Value?
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When Will Your New Mortgage Show on Your Credit Report?
If you have a new mortgage, you are probably anxious for it to show up on your credit report. Housing debt can have a positive impact on your credit score, especially as you start making payments on time. Many lenders look at your housing debt as an indication of your level of financial responsibility. Get […]
Is it Possible to get a Mortgage on Bank Statements Alone?
Do you have irregular income or maybe you don’t work at all, but you know that you could afford a mortgage? You probably won’t be able to qualify for a traditional mortgage if you don’t have W-2s or tax returns for a lender to confirm your income, but you may be able to get away […]
What Affects Your Ability to Get an FHA Loan?
FHA loans have some of the most flexible underwriting guidelines out of all of the loan programs available today. That doesn’t mean that there’s a chance you won’t get approved, though. The FHA has requirements you must meet and that can affect the amount of the loan the lender can give you. Compare Offers from […]
Understanding the Section 184 Home Loan for Native Americans
If you are a Native American and have trouble getting home loan financing, there could be help with the Section 184 Home Loan program. This HUD program helps Native Americans afford home ownership by allowing low down payments and low interest rates. HUD guarantees the Section 184 Loans 100%, which means they work in much […]
The Top Reasons Not to Use Your Current Lender to Refinance
You decided you want to refinance. It’s time to lower your payment or tap into your home’s equity. You’ve prepared yourself financially and are ready to take the jump. Your current lender seems to have a great program for you. Before you jump in headfirst, you may want to consider the top reasons not to […]
The Top Four Easy to Reduce Debt for Mortgage Approval
Mortgage lenders look at two things when deciding if you’ll qualify for a mortgage – your credit score and your debt ratio. Don’t make the mistake of assuming you are a shoo-in for a mortgage if you have a great credit score. If your debt ratio tells another story, you may find it harder to […]
The Top 5 Ways to Use Home Equity
If you’ve paid a significant amount of your loan’s balance down, you may have some decent home equity. Even if you’ve only paid on your loan for a little while, but your home appreciated, you may have more equity than you thought. Should you use the equity? If so, what’s the best use for it? […]
Standard and Stated Income Loans: What’s the Difference in Guidelines?
Stated income loans haven’t gone away totally, as some people mistakenly believe. While you won’t find them offered by every lender today, there are some that still offer it. Before you decide which loan option is right for you, it’s important to understand the different requirements of the two loans. Compare Offers from Several Mortgage […]
How to Get a Free Copy of Your Credit Report
Did you know that you should check your credit report at least once a year? Did you also know that you can get a free copy of your credit report from each of the three credit bureaus? Technically, this means that you can get a copy of your credit report three times. You can do […]
How Much of the VA Loan Does the VA Guaranty?
The VA guarantees loans. This is how VA lenders are able to give you a loan with no down payment without requiring crazy hard requirements. In fact, the VA has some of the most relaxed requirements of any loan program today. The VA guarantees the loans in an effort to encourage VA lenders to provide […]