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

How to Buy a Home When You’re Self-Employed

Mortgages

How to Buy a Home When You’re Self-Employed

How to Buy a Home When You’re Self-Employed

Since the inception of qualified mortgages this year, the process to successfully close on a mortgage has become compliant-heavy by industry standards. This is especially true if you own your business. It’s no mystery among self-employed borrowers that banks do not make it easy for an entrepreneur to qualify. Here’s what you’ll need to get… Read More

When Renting Out Your Home Can Help You Buy a New One

Mortgages

When Renting Out Your Home Can Help You Buy a New One

When Renting Out Your Home Can Help You Buy a New One

One of the biggest obstacles homebuyers will face is being able to show enough income to offset their debts — in addition to a proposed housing payment. If you don’t show enough income to offset your debts according to the bank’s requirements, you may have trouble getting the loan. With that in mind, there is… Read More

Refinancing? Why Your Bank May Not Be the Best Deal

Mortgages

Refinancing? Why Your Bank May Not Be the Best Deal

Refinancing? Why Your Bank May Not Be the Best Deal

Planning to refinance your house? Figure you’ll make it easy by opting to refinance through your current mortgage holder? If yes, beware of offers too good to be true. Here’s what you need to know about your mortgage holder’s offer. Those who have refinanced or bought a home since 2008 know all too well what… Read More

Show Me More by Scott Sheldon

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Start Maximizing Your Credit Today

Credit ScoreGet a FREE personalized credit check-up today.

Get Started - It's Free!