Sort by Newest | Oldest
The home-purchase process can be overwhelming, especially if you’re a first-time homebuyer. Before you jump in, understand the dynamics of today’s housing market, what to expect from a mortgage lender and how to comparison shop.
There are many factors influencing today’s homeownership rate among millennials. Whether you’re burdened with student debt or worried about affording a home down payment, here’s a guide to completing a home purchase, including some helpful loan programs.
VA home loans are one of the best deals in the mortgage industry. But are they too good to be true? Before taking out a VA loan, be aware of the hidden costs so you can make the best decision and get into your dream home.
Non-qualified mortgages, or non-QMs, have been in place since 2014. They were created in response to the financial crisis of 2007-2009, which occurred in part due to a large number of subprime mortgages that defaulted.
What is a subprime mortgage? A subprime loan involves a borrower with a poor or low credit score. The definition of subprime varies: VantageScore defines a subprime credit score as anything below 601, while Fannie Mae and Freddie Mac define credit ratings below 620 as subprime.
Understanding DTI is essential. Simply put, your debt-to-income ratio is calculated by combining all of your monthly debts and dividing that amount by your gross monthly income.
There are many key steps to a home purchase where mistakes can be made. First-time homebuyers, in particular, need to build credit, set a budget, and choose a good real estate agent and mortgage lender early.
It is possible to get an FHA loan after bankruptcy, foreclosure or a short sale, but you might have to wait a while. Find out how long to wait, alternative loans to pursue and how to rebuild your credit score in the meantime.
Tips for Growing & Managing Your Business
It’s best to avoid an explosion of credit. For advice on your situation, look me up.