It’s a common myth that the self-employed cannot secure a mortgage. That’s not true today. Many lenders and/or mortgage programs make it easy for the self-employed to get a mortgage.Looking for Current Mortgage Interest Rates? Click Here.It all comes down to reliability and consistency. These are the same two factors lenders look at when you are self-employed. They need … [Read more...] about What do Lenders Look at on Self-Employed Income?
Once you secure your mortgage, your relationship with your lender is far from over. In fact, it’s just starting. This is why it’s important to choose a lender that you trust and that you work well with because you could be dealing with them for another 30 years.Compare Offers from Several Mortgage Lenders.What happens if your mortgage lender gives you the runaround? It … [Read more...] about The Top Ways to Avoid Mortgage Lender Runaround
When you apply for a mortgage, you have to disclose your income. Every mortgage program requires this today – the days of the stated income loan are gone. What happens if you don’t make enough money, though? Are you going to be unable to get a mortgage?Compare Offers from Several Mortgage Lenders.Luckily, there are ways around it. While you have to be able to prove that … [Read more...] about Qualifying for a Mortgage Even If You Don’t Meet Income Requirements
When you apply for a mortgage, lenders ask you a lot of questions not only about your credit and income, but your assets too. Basically, they want to know that any money you use for the loan is your money. Typically, this means money from income you made. But in some cases, it can also mean gift money.Get Matched with a Lender, Click Here.Whatever the case may be for … [Read more...] about What Types of Assets Qualify as Liquid Reserves for Home Loans?
Closing costs can cost as much as 5% of your loan amount. That is no small chunk change, so it’s no wonder people want to find ways to lower them. One such way is with a lender credit.Get Matched with a Lender, Click Here.It sounds amazing. The lender helps you pay your closing costs, right? Before you get too excited, know that it comes at a cost. That cost is a higher … [Read more...] about What Can a Lender Credit be Used For?