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
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
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
Mortgage Broker: Don’t Make These Application Mistakes! If you are planning to buy a property, you are probably aware that getting your funding squared away is the most important part of this complex process. Before starting to shop for a house, you have to get a price range and the pre-approval sorted out with your mortgage