5 Ways you Can Get Around Lender Overlays

Lender overlays may prevent you from getting the mortgage you thought you were a ‘shoe in’ to receive. Lender overlays are guidelines a lender adds to a loan program’s basic guidelines. They are common, but it doesn’t mean that you’ll never get the loan you need. You...

How Do You Maximize Your Open House Visit?

So you decided to buy a new home. You then scoured for hours looking for an affordable and suitable property online, compared lenders and processed your financing documents. Before long, you’ll be on the lookout for sale signs on the street and if you’re lucky,...

Homeownership Costs Every Home Buyer Need to Prepare For

Buying a home comes with costs that you need to prepare for. Every home buyer should save more than enough funds in order to cover out-of-pocket fees that come with home buying a home.It’s true, there are low- to no- down payment mortgage options for low-income...

Do Lenders Verify Employment the Day of Closing?

Lenders always verify employment before you close on a loan. It’s not enough to supply your paystubs or even your tax returns. Lenders need to hear from a third party that you are employed. This helps the lender determine that your income is as accurate as you...

How Non-Permanent Resident Aliens Verify Employment

Buying a house is a part of the American dream. But, for non-permanent resident aliens, it can mean a lot of obstacles to get through first. It’s not impossible to buy a home for primary use if you are not a citizen, but knowing the obstacles you’ll face ahead of time...

First Quarter Data Show Good Start For Mortgage Lending

It’s a good start for mortgage lending – or at least that’s what the numbers say. In a latest data report released by Equifax, the first quarter of the year has seen increases in mortgage activity, owing to the positive financial wave that Brexit resulted after its...

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Recent Rules Will Reduce FHA Reverse Mortgage Default Rates

A study published in July revealed that default rates on reverse mortgages insured by the Federal Housing Administration could be reduced by as much as 50% in light of the agency’s recent rules changes.This development comes as the FHA wishes to codify those changes...

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What Alternatives Are There To The Cash-Out Refinance?

If you need cash and you have equity in your home, you may automatically turn to the cash-out refinance. Did you know that this isn’t your only option, though? There are other ways you can get the cash you need that don’t involve refinancing your first...

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An Outline Of The Home Owning Process

It’s never been easier to own a home. To the bare minimum, the only things you need to own to get a home are:a) an incomeb) a proof of this incomec) a tax information of this incomeNo, you do not need to be a millionaire to own a home. Nor do you need to have no debt....

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