Many homeowners have been talking about relocating, and it’s not a surprise after this past year. Some people want to cash out and head to the coastline, while others want to move where the cost of living is lower. Lately, I get asked whether or not the USDA loan would be a good fit for […]
Buying a fixer-upper can be a fast way to get into a great home that is selling below market value and build home equity fast. But buying a home that needs a lot of repairs and remodeling can also be a money pit with whole lot of stress. If you want to dive into a […]
Today’s housing market is changing rapidly and housing inventory is dropping. A lot of homeowners are taking advantage of low interest rates to refinance their mortgage or start renovations. Some homeowners are selling to move to less expensive areas, and they know the housing market is already shifting in their favor. So if you’re […]
This past year many homeowners spent a lot more time at home. If you’ve been thinking about remodeling your kitchen, building out a home office, or doing a home renovation to update needed repairs, you’re not alone. The good news is there are great renovation home loan programs that can help you finance your next […]
This past week the average mortgage rate for 15-year fixed-rate mortgages dropped below 2.4 percent, just hovering above it’s all-time record low. If you’ve been thinking about refinancing for a lower mortgage payment, paying off your loan faster or saving thousands in mortgage interest, this quick article could help you decide. How to Know if […]
If you’re thinking about buying your next home then you’ve probably heard about getting pre-qualified or pre-approved for your home loan. Whether this is your first home or you haven’t purchased a new home for a while, the home-buying process can still feel overwhelming. Let’s face it, going to open houses is a lot more […]
You just did a good thing. You agreed to co-sign on a mortgage. Especially for first time homebuyers, qualifying on their own can sometimes be a challenge, especially for those who are having difficulty qualifying due to debt-to-income ratios, coming up with funds for a down payment, having some credit issues or having their very […]
Even if it’s not your very first home purchase, you can to be prepared to provide your loan officer with what is required. Experienced home buyers may like a refresher for all the things provided and questions asked. Here are some questions you can bet your loan officer will be asking before you get too […]
There is an ‘Ability to Repay’ or ‘ART’ rule that lenders follow when approving a traditional mortgage. When lenders calculate income, they are required to both determine and document that determination of whether or not someone can safely afford a new home loan. This is a result of the vast mortgage guideline changes implemented […]
If you’re new to the world of investing in real estate, one term you may run into is the vacancy factor. As part of the approval process to buy a rental property, one of the early qualifying factors will be income. Rental income from the property might be able to be used to qualify for […]
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