Using the Warp Speed Mortgage online platform is an easy way to reach your home financing goals from the comfort of your home computer. While a completely online mortgage experience wasn’t possible when our parents bought their first home, technology has allowed lenders to move away from the traditional mortgage experience and support you remotely. …
When you purchase a new home or refinance with a completely online digital mortgage lender like Warp Speed Mortgage, secure online tools can provide major benefits to both yourself and the lender. One tool that is critical to efficiently moving you through the mortgage process is digital asset verification. Part of the traditional mortgage process …
Online Digital Mortgage Technology: Digital Asset Verification Read More »
Pre-approval or pre-qualification is the first step in your home financing process. While both can provide a home seller with an estimate of your purchasing power, one carries more weight than the other. Pre-Qualification A pre-qualification is an assessment of your purchasing power based on the information you provide when you apply for a loan. …
No matter how you look at it, your credit score plays a big role in whether your mortgage application is approved and what rates you qualify for. To a lender, your credit score indicates your dependability as a borrower and, generally speaking, the higher the credit score, the better. As with anyone, lenders want to …
When you complete your mortgage loan application, you may notice some seemingly out-of-place questions about your race, ethnicity, and gender. Seeing these questions may have you wondering “Why in the world does my lender need this information about me?”. You’re not required to provide this information, but as it turns out, these questions exist to …
Demographic Information When Applying for a Loan Read More »
Keeping your credit score high is just as important after you buy a home as it was before you closed on it. There are many benefits to keeping your credit score up, and one of the best ways to do that is to pay your mortgage on time! Keeping your credit score up after closing has the …
Bounced checks If your checking account contains multiple overdrafts or NSFs (non-sufficient funds) charges, underwriters are likely to think that you’re not great at managing your finances. Mortgage rule-making agency Freddie Mac says that additional scrutiny is required when bank statements include NSF fees. Large, undocumented deposits Outsize or irregular bank deposits might indicate that …
3 Things Lenders Don’t Want to See on Bank Statements Read More »
