Well, for an individual buyer the rate is determined by a lot of factors: primary home or investment home, loan size, Loan to Value, credit score, credit history, debt ratio, type of income, job history, job stability, w-2 or 1099 … Read the rest
No, this isn’t an error nor is it at all misleading! It really is free money! As I’ve written previously, home ownership does very good things for the homeowners themselves as well as for their communities, state and country.
Also, … Read the rest
The U. S., along with along with many other countries, has reached record levels of consumer and government debt.
The reasons why are too numerous to mention here, but interest rates, kept too low for too long, is one of … Read the rest
Credit, with debt-to-income ratio and equity, is a critical factor in determining mortgage loan approval. And, for approved applicants, credit score plays a major role in determining loan costs.
For example; let’s assume a mortgage amount of $400,000, 80% of … Read the rest
Despite numerous regulatory changes, new disclosure requirements, and lending restrictions, the same basic loan qualification factors still apply. Does a potential borrower earn enough to be able to make payments on all their monthly obligations? Have they shown consistent willingness … Read the rest
The question most often asked by mortgage applicants, is “What’s the rate”. But that’s not often their real concern. It’s understandable to think interest is key but it’s only a part of a transaction. The primary concern for most mortgage … Read the rest
There is more math in the mortgage process than meets the eye and most borrowers, and even many loan officers, don’t understand all potential ramifications. It’s important to work with someone who does in order for them to present the … Read the rest