When applying for a mortgage loan, one of the key initial disclosures you will receive is a Loan Estimate. This Loan Estimate breaks down the terms of your new mortgage…
Federal Tax Returns: How Income is Verified
When applying for a mortgage, your mortgage loan originator will request income documentation, such as your federal tax returns. These documents are needed because they are required for most traditional…
Loan Amortization: How Does It Work?
Have you ever wondered what portion of your mortgage payment goes towards paying down the principal loan balance? The answer is that it changes slightly on every payment you make…
Money Wire Scams: How to Protect Yourself
Buying a new home is an exciting time that should be celebrated and enjoyed. Unfortunately, some sour apples might try to ruin this joyous milestone for you. It is important…
Relocation & Remote Work: How It Impacts Your Ability to Qualify for a Mortgage
We are often approached by potential borrowers who are moving from one city/state to another and looking to get pre-approved for a mortgage. While this may seem straightforward and logical…
Home Buying Season is Around the Corner…Here’s How To Get Started
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…
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