3 Types of Questions Your Mortgage Lender Will Ask You

After the housing crisis and subsequent recession in 2008, mortgage lenders now want to know everything about a potential borrower before they even think of approving a home loan. Their goal is simple: to find out if you have the financial capacity to repay your mortgage. Aside from requesting copies of your tax and financial […]

Mortgage 101: 4 Pieces of Documentation You’ll Need for Underwriting

Before the housing crisis and the subsequent Great Recession, many mortgage lenders did not require full requirements from borrowers. Fast forward to today, lenders are more cautious (rightfully so) and now want to know as much as they can about your finances before even considering approving your application. Your job is to provide lenders with […]

Everything You Need to Know about the Government’s 3 Specialty Home Loans

Let’s face it, you have your work cut out for you if you want to qualify for a conventional mortgage. Still, these home loans, which adhere to the underwriting guidelines set by Freddie Mae and Fannie Mac, present the best-value option for the average would-be homebuyer. But depending on your circumstances, you may be able […]

6 Hidden Home Buying Costs to Factor into Your Monthly Expenses

First-time homebuyers are often shocked that the cost of buying a home goes beyond the property’s purchase price, their mortgage’s down payment, and renting the moving truck. You need to brace yourself for the mountain of hidden costs that comes with the property purchase, which, according to Zillow, could run up to over $9,000 each […]

What You Should Know About the Reinvented Subprime Mortgage

Once blamed for the collapse of the U.S. housing market and the Great Recession that followed, subprime mortgages, or high-risk home loans made to borrowers with poor credit, are making a comeback with a new name: nonprime mortgages. This time around, however, these loans come with new standards to comply with tighter regulations and ease […]