Spring and summer are generally considered as the primetime home-buying season. During this time, there is often more inventory and new listings available when compared to other parts of the…
Self-employed? Need to get Approved for a Mortgage?
Are you self-employed and looking to qualify for a mortgage loan but are not sure where to start? You may have already spoken to a mortgage representative at your local…
Credit Checks: Soft vs Hard Credit Inquiries
One of the critical parts of a mortgage application process is having your mortgage lender complete a credit check. While borrowers are often apprehensive about having their credit scores pulled,…
Residual Income
When qualifying for a residential mortgage, lenders are required to ensure that the borrower is able to repay the loan. The most important metric in determining this is the borrower’s…
Need to Switch Lenders During the Escrow Process?
In an ideal world, you choose the lender whom you want to work with before you begin your home-buying process. However, it’s fairly common for borrowers to want to make…
Compensating Mortgage Loan Factors
Ever wondered why your mortgage loan application was denied by one lender but approved by another? While it is true that mortgage lenders have access to different loan products, more…
Sourcing Closing Funds
Residential mortgages are subject to strict financial regulations. Nowhere throughout the loan process is this more true than when it comes to sourcing the down payment funds needed for closing….
2024 Conforming Loan Limits
The 2024 conforming loan limits have just been officially announced by the Federal Housing Finance Agency and we at Bluefire Mortgage Group are ready to start offering conforming loans up…
Blended Mortgage Rates
Refinancing a mortgage from a lower interest rate to a higher interest rate is something most borrowers want to avoid whenever possible, but can be a harsh reality when a…
Standalone Second Mortgages: How to Unlock Your Equity
The current interest rate environment has created a resurgence in second mortgages for homeowners. This resurgence in second mortgages is logical since taking out an additional mortgage is typically a…
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