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 by just using your bank statements.Looking for Current Mortgage Interest Rates? Click … [Read more...] about Is it Possible to get a Mortgage on Bank Statements Alone?
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 Several Mortgage Lenders.Keep reading to see which factors … [Read more...] about What Affects Your Ability to Get an FHA Loan?
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 same way that other government-backed programs, such … [Read more...] about Understanding the Section 184 Home Loan for Native Americans
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 use your current lender though.Compare Offers from Several Mortgage … [Read more...] about The Top Reasons Not to Use Your Current Lender to Refinance
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 get a mortgage than you thought.Compare Offers from Several Mortgage Lenders.If … [Read more...] about The Top Four Easy to Reduce Debt for Mortgage Approval