Category Archives: Loan Approval

mortgage loan types

Mortgage Loan Types Explained

Mortgage loan types currently available for you? Mortgage Loan Types Fixed rate mortgage loan types. Fixed rate mortgage loans have the same interest rate for the entire repayment period. With the monthly principal portion being also constant you will pay the same amount of money month after month, year after year. 2. Adjustable rate mortgage

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mortgage process

Mortgage Process: Making a Little Less Confusing

Mortgage Process Steps The mortgage process can be one of the most challenging.  Especially if you don’t understand the all that goes into making a loan. Yet, with a little research, diligence and the right mortgage broker, you can take back a feeling of control.  Control over the process of acquiring one of your most

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self employed

Self-Employed Homebuyers

Self-Employed homebuyer Looking to Purchase or Refinance a Home Before granting a mortgage loan to a self-employed person, lenders have to examine according to Fannie Mae: ·         "the stability of the borrower’s income, ·         the location and nature of the borrower’s business, ·         the demand for the product or service offered by

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How to Buy a Home with a Low or Zero Down Payment

The truth about no or low down payment mortgages Down Payment has a widely spread misconception. How much is needed to buy a house across consumers all ages, income brackets, and education levels? This lack of awareness regarding low-down-payment mortgage options is delaying some qualified young adults from entering the market. According to the National

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mortgage overlays

What are Mortgage Overlays?

Navigating the wide world of lender mortgage overlays Mortgage Overlays: You have been studying the requirements for the mortgage you want in order to determine if you’re eligible.  You have the required credit score, down payment and debt-to-income ratio (DTI) but your loan application has been rejected. What happened?   Stricter requirements called lender or

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