When you shop for a mortgage, you have many places you can shop, such as mortgage lenders, savings & loan institutions and commercial banks. The name commercial banks may make you think that they don’t offer mortgages, but they do, along with a large variety of other services.Looking for Current Mortgage Interest Rates? Click Here. What is a Commercial Bank? You … [Read more...] about Do Commercial Banks Provide Mortgages?
Underwriting
Can You Buy a House Without a Social Security Number
Are you looking to buy a home in the United States, but you don’t have a social security number? It may be easier than you think to settle here in the U.S. Rather than a social security number, you will need an ITIN, Individual Taxpayer Identification Number. If you have an ITIN and you have the qualifications we discuss below, you could be well on your way to an approval for … [Read more...] about Can You Buy a House Without a Social Security Number
The Loan Limits for Government-Backed Mortgages in 2019
Each year, the government-backed mortgages have different loan limits. Understanding these limits can help you determine how much you may be eligible to borrow whether to purchase or refinance your home.Looking for Current Mortgage Interest Rates? Click Here.This year, loan limits jumped just short of 7%, similar to last year’s increase. This is due to the increasing … [Read more...] about The Loan Limits for Government-Backed Mortgages in 2019
What do Lenders Look at on Self-Employed Income?
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?
Qualifying for a Mortgage Even If You Don’t Meet Income Requirements
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