Homebuyers and homeowners can get lower rates by buying down mortgage interest rates with discount points. Discount points are origination fees charged by lenders in lieu of getting lower mortgage rates. However, borrowers should buy discount points to buy down rates if they intend on not refinancing their home loan for at least five or…
In this blog, we will cover the closing costs breakdowns on a home purchase transaction. The down payment on a home purchase is a fixed percentage of the purchase price. Closing costs vary depending on the borrower, the property, the city, the county, and the state. Whether mortgage borrowers are refinancing a current home or…
In this article, we will cover qualifying for a mortgage with late payments after bankruptcy. Most consumers are under the belief that bankruptcies are the end of the world. This is absolutely not the case. Bankruptcies is a federal law that all American consumers can utilize to help them with a fresh financial start. In…
In this article, we will cover and discuss qualifying for VA loans with 580 credit scores. Active duty and retired eligible veterans with a VA certificate of eligibility do not realize that they can get qualified for VA loans with 580 credit scores. Actually, the U.S. Department of Veteran Affairs has no minimum credit score…
In this blog, we will cover and discuss the non-QM mortgage requirements on owner-occupant, second homes, and investment properties. We will go into why non-QM loans are becoming increasingly popular and the non-QM mortgage requirements. Non-QM loans are not hard money loans or mortgages for just bad credit mortgage borrowers. Many borrowers with great credit…
Advice In Qualifying For Mortgage Loan With Judgment is that you can qualify for conventional and FHA loans with an outstanding judgment. A judgment is the worst thing you can ever have on your credit report. Outstanding collections and charged-off accounts can turn into a judgment. In the following paragraphs, we will cover and discuss…
In this blog, we will cover and discuss understanding how lenders price mortgage rates for borrowers with bad credit and low credit scores. Mortgage rates are the determinant that determines your monthly mortgage payment over the term of your mortgage loan. The higher the mortgage rates are, the higher the mortgage payment will be and…
Non-QM Mortgage Brokers wrote and published this blog on how do I buy my first house in Chicago to give homebuyers the good, bad, and ugly of being a Chicago homeowner. Chicago is hands down one of the most beautiful cities in the world. As the author of this guide on how do I buy…
In this blog, we will cover and discuss the cash to close borrowers need to bring to closing. Homebuyers in a mortgage process will need to have their cash to close verified by mortgage underwriters. The lender will need to verify borrowers have enough verified funds for the down payment and closing costs for the…
In this blog, we will cover and discuss bad credit home loan with no overlays and low credit scores. Many hard working Americans were affected by the real estate and credit collapse of 2008. Many business owners had to close their businesses, many lost jobs due to corporate layoffs. Many had to settle with new…
In this blog, we will discuss and cover FHA guidelines on collections charge-off accounts. The United States Department of Housing and Urban Development (HUD) is the parent of the Federal Housing Administration (FHA). FHA is not a lender. The Federal Housing Administration is a government agency under HUD. The role of HUD is to insure…
This BLOG On Buying Home Without Spouse On The Home Mortgage Was PUBLISHED On June 27th, 2020 Married couples do not always have to have joint ownership of assets, especially in their home purchase. Buying home without spouse on the mortgage note and the title is permitted by lenders Prenuptial agreements are becoming more and…