When you apply for a mortgage, the lender will look at your monthly income, employment history, credit score, debt-to-income ratio, and other factors to determine if you qualify for a home loan. However, the unfortunate reality is that about 9% of mortgage applications are denied, and if you find yourself in this situation, it can […]
Can a Mortgage Denial Destroy Your Credit Score? Read More »
You may be surprised to learn that 1 in 4 Americans have an error on their credit report. While many consider credit reports to be the source of truth for your financial history, the fact of the matter is, with the volume of data credit reporting bureaus are bringing in, errors on some reports are
Disputing Errors on Your Credit Report Read More »
An appraisal is a critical piece of the home buying process because it establishes how much the lender will allow you to borrow to purchase the property. Because an appraisal determines the value of a property, a lender will not lend more than the value outlined. When an appraisal comes back lower than expected –
My Appraisal Came Back Too Low Read More »
Your credit score is one of the most significant factors considered by mortgage lenders when you apply for a mortgage and can make or break your mortgage application, as a low credit score could result in your application being denied. Even if your credit score is high enough to qualify for a mortgage, you’ll likely
Steps to Improve Your Credit Score Read More »
The first step in the home financing process is getting pre-approved. Once you’ve been pre-approved you’ll have a good idea of how much you can borrow to buy your dream home. During pre-approval, you will be asked to provide employment history, financial information that ideally demonstrates good credit, a stable income, a low debt-to-income ratio, and
Steps to Take if You’ve Had Trouble Getting Pre-Approved Read More »
If you’re preparing to buy a new home, you’ve likely already heard all the mortgage jargon terms that lenders tend to throw around and one of the most common terms are traditional and portfolio mortgage loan options. Just from the names, it can be hard to tell what these terms may be referring to, so
Traditional vs. Portfolio Mortgage Loans Read More »
