Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed.
If you’re a homeowner who is looking to tap in to the home equity that you’ve spent years building you may be interested in a “reverse mortgage” or “home equity conversion mortgage”. Let’s take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage might cost.
So – you’ve completed an initial mortgage pre-qualification and now you’re ready to take the next step and meet with your lender or mortgage advisor for the pre-approval interview. Are you ready? Let’s take a quick look at a few questions you should know the answers to before you go in for a mortgage pre-approval.
If you’re in the market for a new home and you’ve been researching mortgages, you’ve likely come across the terms “pre-qualification” and “pre-approval”. While these terms are self-explanatory in some circumstances, they are quite different in regards to mortgage financing. In today’s blog post we’ll explain the difference between a mortgage pre-qualification and a pre-approval.
Are you thinking about buying a new house or condo? If so, you’ve likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home.
In this post we’ll share three quick tips for sprucing up your personal credit before reapplying for a mortgage. With a bit of luck and hard work you can be on your way to purchasing that new dream home.
Being pre-approved for a mortgage isn’t just a way to get a step ahead, in many cases it’s a necessity to buying a home. Many sellers don’t want to go through the negotiation process of selling their home only to have the buyer drop out when they can’t get approval for the mortgage they were relying on.
When a seller accepts an offer from a buyer, the process of obtaining the property has just begun. The buyer now has to conduct an inspection, get approval from an attorney and obtain a mortgage – all of which can be time consuming. Here are a few ways that you can speed up the mortgage process and close the deal sooner.
When you visit your lender to get a mortgage for your home, they will tell you the maximum amount that you are allowed to borrow. But how do they reach this total and what factors do they take into consideration?
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