All posts tagged: Mortgage

An Overview Of the Digital Mortgage Process

September 29, 2021 Mortgage Comments Off on An Overview Of the Digital Mortgage Process

Changes are being made to the mortgage application process every year. With access to online-only lenders and a decentralized financial system, more doors are open to potential home buyers than ever before. For example, there are many institutions that are making it easier to apply for mortgages by allowing applicants to do so online. That way, buyers do not have to fill out any paperwork, and lenders can stay away from any inequalities or discriminatory methods. What are the benefits of a digital mortgage?

Borrowers With Student Loans Might Have An Easier Time Qualifying For An FHA Loan

September 28, 2021 Mortgage Comments Off on Borrowers With Student Loans Might Have An Easier Time Qualifying For An FHA Loan

In the past, a lot of potential borrowers were declined for FHA loans due to the presence of student loans. Now, the Biden Administration along with the FHA has eased a lot of their regulations surrounding student loans, making it easier for borrowers with student loans to qualify for a home loan.

Getting Your Mortgage Application Approved As A Self-Employed, First-Time Homebuyer

September 24, 2021 Mortgage Comments Off on Getting Your Mortgage Application Approved As A Self-Employed, First-Time Homebuyer

A significant number of people are self-employed, which means they might be relying on this income to apply for a mortgage. It is true that people who are self-employed may face additional challenges when trying to get approved for a home loan when compared to someone with traditional W2 income, these are obstacles that can be overcome. With the right qualifications and documentation, even first-time homebuyers who are self-employed should be able to qualify for the home loan they need.

Is An Escrow Account Right For You?

September 17, 2021 Mortgage Comments Off on Is An Escrow Account Right For You?

When someone is looking at purchasing a home, they usually focus on the purchase price of the home and the potential monthly payment. At the same time, there are other costs that need to be included as well. This includes home insurance and real estate taxes. As a result, many homeowners find themselves asking if they should use an escrow account or not. What do homeowners need to think about and how can they make the right decision?

What To Know About Shopping For Mortgage Rates

September 14, 2021 Mortgage Comments Off on What To Know About Shopping For Mortgage Rates

Applying for a home loan can be an exciting process; however, this is a major financial decision. Therefore, potential homeowners need to make sure they understand how to shop for the best mortgage rate possible. A mortgage is usually a long-term loan, allowing potential homeowners to purchase a home using small monthly payments. Fortunately, there are a variety of tools available that can make the process easier. What do potential homeowners need to know when shopping for mortgage rates?

What To Know About IRS Installment Agreements And Home Loans

September 10, 2021 Mortgage Comments Off on What To Know About IRS Installment Agreements And Home Loans

When applying for financing, lenders want to make sure the client is going to pay back the balance of the loan. Therefore, they will look into pre-existing debt including credit card debt, student loans, car payments, and back taxes. Sometimes, applicants have IRS installment agreements. This is an agreement consumers make with the IRS to pay taxes over an extended timeframe. How might this impact someone’s ability to apply for home financing?

The Process Of Estimating Property Values

August 27, 2021 Mortgage Comments Off on The Process Of Estimating Property Values

Property values are a moving target. They are important to buyers and sellers because everyone wants to get the best deal possible. Sellers want to get as much money for their investment while buyers do not want to overpay for a home. There are a lot of factors that play a role in property values including the economy, the number of people looking for homes, new home construction, schools, the job market, and more. How do real estate agents estimate the value of a home?

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