Why Your Job Matters When Buying a Home

Mortgages

Why Your Job Matters When Buying a Home

Why Your Job Matters When Buying a Home

Did you recently change jobs or receive a promotion? Despite what you might have heard, it is still possible to qualify for a mortgage to buy or refinance a home using your new income. The lending atmosphere is rife with misconceptions about job gaps, job changes and occupational changes within the course of an employment time… Read More

How to Divide Your House in a Divorce

Mortgages

How to Divide Your House in a Divorce

How to Divide Your House in a Divorce

Stuck paying for a house that’s no longer yours? Buying your spouse out of a property can be dicey, especially if both parties disagree with one another on the debt and equity objectives. So here are some ways to separate and pay off an ex-spouse when getting a mortgage. Net Yet Divorced or Separated? First,… Read More

How to Buy a Home in a Competitive Real Estate Market

Mortgages

How to Buy a Home in a Competitive Real Estate Market

How to Buy a Home in a Competitive Real Estate Market

Demand for real estate is growing in many markets across the country. That’s great, but it creates competition in the form of all-cash offers, offers for thousands of dollars over list price, and a growing gap between affordability and prices in a given area. This dynamic only adds to the frustrations many buyers face in… Read More

4 Ways to Cut This Cost From Your Mortgage Payment

Mortgages

4 Ways to Cut This Cost From Your Mortgage Payment

4 Ways to Cut This Cost From Your Mortgage Payment

Buying a primary home? The 20% down rule is yesterday’s news. More down payment options exist now, including both government and private sector alternatives, allowing more flexible choices for homebuyers. Don’t be fooled however, as most of the programs that allow for less than 20% down include private mortgage insurance (PMI) — which is an… Read More

5 Credit Moves That Could Wreck Your Mortgage

Mortgages

5 Credit Moves That Could Wreck Your Mortgage

5 Credit Moves That Could Wreck Your Mortgage

While credit standards have somewhat loosened up in home lending, make no mistake, getting a mortgage these days still requires scrutinizing your complete financial picture — especially your debts and your current credit standing. Here are the five most common credit mistakes that could throw a wrench in your mortgage process. 1. Disputing Credit Accounts… Read More

Don’t Put the Car Before the House

Mortgages

Don’t Put the Car Before the House

Don’t Put the Car Before the House

The next time you’re in the market for a car, nowhere will you ever see a disclosure or a word of caution from the salesman about how financing that car could hurt your future chances for buying a house. Unfortunately, auto loans will affect your ability to purchase a house no matter how big or… Read More

The Investment That Could Kill Your Mortgage

Mortgages

The Investment That Could Kill Your Mortgage

The Investment That Could Kill Your Mortgage

Do you own a rental property? If yes, and you’re looking to get a new mortgage, your gain or loss identified by your tax returns may help or hinder your chances. Lenders can use up to 75% of the rent generated on your rental property as income to help you qualify for a mortgage. However,… Read More

How to Keep Bad Credit From Killing Your Mortgage

Mortgages

How to Keep Bad Credit From Killing Your Mortgage

How to Keep Bad Credit From Killing Your Mortgage

The credit and financial choices you make today can shape your chances of getting a mortgage in the future. If you have a tarnished credit history, you still may be able to qualify but it will be a document-heavy process. A mortgage is the largest form of credit a consumer can obtain, so be prepared… Read More

Why the Lowest Mortgage Rate May Not Be the Best

Mortgages

Why the Lowest Mortgage Rate May Not Be the Best

Why the Lowest Mortgage Rate May Not Be the Best

Interest rate isn’t the only factor that can drive up your projected new monthly mortgage payment. Private mortgage insurance (PMI) and the term of the loan can also make a big difference in what you pay each month. So that lower interest rate loan you’ve been offered — adjusting for mortgage insurance and a shorter-term… Read More

When a Second Job Won’t Help You Buy a Home

Mortgages

When a Second Job Won’t Help You Buy a Home

When a Second Job Won’t Help You Buy a Home

You have a great credit score, manageable debts, solid income, cash ready to go, but you still can’t get a mortgage. You even have a second job – shouldn’t that help you?  Not necessarily. A lender may not allow the use of the income you generate from your second job unless you meet certain criteria. If… Read More

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