Financing a second rental property can be much easier the second time around. For those thinking about dipping into the investment real estate world, there are some important things to know. At its most basic level, financing a rental property is not much different as it relates to income, assets and credit. First time buyers […]
If you’re still renting, you might think that you’re not paying a mortgage. Technically that may be correct but in the end, you’re paying the property owners mortgage. When real estate investors evaluate a potential purchase, one of the first things they’ll be looking for is whether or not the unit generates cash flow. Investors […]
Understanding how to buy a fourplex is an interesting concept and at first glance it might seem a bit misleading. The obvious way to buy a fourplex and live mortgage free is to pay cash for it. But many don’t take that route because it can put a dent in a bank account and tie […]
The Department of Veteran’s Affairs was first established back in 1930. Implementing and overseeing multiple programs and benefits to those who have served in the Armed Forces. One of the more popular programs is the VA Home Loan Benefit. This financing option provides multiple benefits that other mortgage programs simply cannot provide. For those who […]
To understand how refinancing works when the loan closes, it’s important to understand how a purchase loan closes first. By comparing the two different processes, Home Purchase: How it Works on Closing Day The final settlement date for a purchase is listed directly on the sales contract. Once the contract is executed by both parties, […]
When people start thinking about different types of qualifying income, most simply come to the conclusion that income is defined by their regular paycheck on the 1st and 15th. And that’s true, most people do get their income from their employer. It’s the most common form. Mortgage lenders use this income when qualifying someone for […]
If you’ve been thinking of refinancing, the risks of waiting might not be worth it. Lately, it’s a good move to go ahead especially for those who have been on the fence over the past few months. The market has been relatively positive for interest rates as mortgage rates in general have been floating in […]
When two people file for a joint mortgage, it’s important to understand that it’s not necessary to be married. In fact, more and more people apply to finance a home together without having officially ‘tied the knot.’ Still, both parties need to be clear early on that they’re both going to be responsible for the […]
Yes, they’re not only important but necessary in the mortgage world. What are non-QM mortgages you ask? Non-QM is short for Non-Qualified Mortgage. To understand what that means and the importance of a non-QM loan, we first need to understand what a Qualified Mortgage (QM) loan is. Qualified Mortgage (QM) Loan Explained The Consumer Financial […]
When two people decide it’s time to buy a home together, in today’s environment and in many markets it takes two incomes in order to qualify for the home they really want. That means both will appear on the same mortgage application. Unfortunately when the decision is made to get divorced, there are a lot […]
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