Qualifying for a Mortgage Without Rental History

Last Updated 6/11/2015

Many first time home buyers find themselves in a situation of having no rental history when they apply for a mortgage. They choose to stay living at home with their parents or guardians while working and building up savings for a downpayment. Often times, they feel it is a waste of…

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Is A 30 Year Or 15 Year Mortgage Really Best?

Last Updated 6/11/2015

Is a 15 or 30 year mortgage the best choice? There are a number of term options available to borrowers seeking both purchase mortgages and refinance loans today. There are 30 and 15 year mortgage loans, and even 20, and sometimes 10 year mortgages. So what’s the difference, and what quirks…

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Loan Rates: Are Prepayment Penalties Actually A Good Thing?

Last Updated 6/11/2015

When shopping for the best home loan rates, are pre-payment penalties really a good thing? In the past home buyers and home owners seeking refinance or purchase mortgage loans were either oblivious to what loan prepayment penalties meant, or found them oppressive. So why hasthe perception on the features of loan…

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Where Can I Find Help With Down Payments?

Last Updated 6/11/2015

Where can today’s first time home buyers find assistance with down payments? It is a very appealing time to purchase a home. However, despite attractive home prices and interest rates many first time home buyers have allowed themselves to be held back by the perceived obstacle of needing sizable down payments….

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What Is Payment Shock & How Can It Hurt My Mortgage Loan Application?

Last Updated 6/11/2015

Could payment shock sabotage your mortgage loan application? There are many hidden quirks of mortgage loan underwriting which most consumers are unaware of, and even many newer loan officers fail to anticipate when taking mortgage loan applications. Payment shock is one of them. So what is it? How can borrowers preempt…

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Where To Find Loans for Flipping Houses

Last Updated 6/11/2015

Where can real estate investors find purchase mortgage loans for flipping houses today? Flipping houses has become incredibly popular thanks to an array of reality TV shows ranging from Flip This House with Than Merrill to Flip or Flop featuring Tarek and Christina. The trendiness of real estate investing, along with…

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How Student Loans Affect Your Mortgage Approval

Last Updated 4/13/2015

The percentage of Americans with students loans is increasing each year and so is the amount of money they are borrowing. Many young Americans are graduating with five to six figures of student loan debt. The payments on these loans can amount to the equivalent of a mortgage payment. Sadly, these…

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5 Factors That Can Derail Your Mortgage Loan Approval

Last Updated 1/24/2015

What factors could squash your home mortgage loan approval during the process, and even on the day of your real estate closing? While it can seem like there is a fair amount of work to be done in just finding a home to buy, getting pre-approved for a purchase mortgage loan,…

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10 Mortgage Myths Dispelled

Last Updated 1/21/2015

Everyone receives bad advice from time to time, but what if that advice ended up costing you thousands? These common mortgage myths can end up doing just that. You may feel like it’s the right time to buy a home due to reasonable housing prices and affordable interest rates. Don’t let…

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Ways to Lower Your Debt to Income Ratio

Last Updated 1/21/2015

One of the biggest factors on a mortgage loan application is the debt to income ratio. This ratio is calculated by dividing the total monthly credit obligations by the total gross monthly income. Lenders use this number to assess whether or not you’ll be able to afford your new monthly payment….

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