When it comes to applying for a mortgage loan, there are certain qualifications that lenders typically look for. Understanding these basic requirements can help you navigate the process with confidence and increase your chances of securing a loan for your dream home. Job History One of the key factors lenders consider is your job history. […]
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As you are going through the mortgage process, you will come across the term escrow a lot. Escrow is fairly simple. Escrow covers your property taxes and insurance. Generally speaking all mortgages are escrowed whether you are looking at a fixed rate loan or an in house adjustable rate loan. The main benefit of escrow
Purchasing a house is one of the biggest decision you will make. Part of that decision is deciding whether you want to get a 15 or a 30 year mortgage. Both options have their pros and cons and it’s important to consider all of the aspects of your current financial situation and the individual deal
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A home equity line of credit (HELOC) is a revolving line of credit attached to your primary residence. In essence, this is a low-interest credit card that is attached to your home’s equity. This product can be a great way to easily tap into one of your biggest assets, that is, your house. Pros of
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Getting a house is probably one of the biggest decisions you will make, and with that decision comes the issue of qualifying for a mortgage. There are really three major aspects of mortgage loan qualification. They are income, credit, and collateral. Generally speaking, you will need to meet all three conditions to qualify. If you
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