Refinancing Archives - Page 3 of 3

Demographic Information When Applying for a Loan

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 […]

3 Things Lenders Don’t Want to See on Bank Statements

Leave a Comment / Buying a Home, Mortgage Requirements, Refinancing

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

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