How to Properly Write a Letter of Explanation for a Mortgage

If everything on your mortgage application isn’t textbook material, it’s fairly certain that you’ll receive a request for a Letter of Explanation. Just what is this letter and how do you write it?Keep reading to learn the specifics you must know in order to get the...

The Best Way to Get a Competitive Interest Rate

What’s the largest factor you think about when shopping for a mortgage? If you said the interest rate, you are like most other borrowers. Even ¼ to ½ of a change in the interest rate can have a dramatic effect on your payment. It’s no wonder you want the lowest...

Qualifying for a Mortgage with Child Support Arrears

Child support arrears can affect your loan application, but not always in a negative way. How you handle the arrears play a vital role in your ability to secure financing. As is the case with any other debt or even income, the lender looks at the whole picture. They...

Do Deferred Student Loans Affect Debt-To-Income Ratios?

If you graduated college loaded with student loans, you aren’t alone. The average graduate has around $37,000 in debt and this only accounts for graduates with a bachelor’s degree. Those that go on even further can have hundreds of thousands of dollars in student...

The Top 5 Reasons to Buy a ‘For Sale by Owner’ Home

You are in the market for a home – congratulations! You have many decisions ahead of you, though. Your first decision should be whether to buy a ‘for sale by owner’ home or a newly constructed home. A newly constructed home may be something you always dreamt of, but...