Getting approved for a mortgage can feel like an impossible task if you have little to no credit history. You may assume lenders will automatically reject your application without a decent credit score to review. However, there are ways to get a home loan even with no credit or limited credit history In this comprehensive … Read more
Buying a home is an exciting milestone in life. But if your credit or finances aren’t in the best shape, getting approved for a traditional mortgage can be tough. That’s where private home loan lenders come in. As a homebuyer, you may be wondering – what exactly are private home lenders? How do they work? … Read more
Having a high debt-to-income (DTI) ratio can make it challenging to qualify for a personal loan, mortgage, or other financing Lenders prefer to see DTI ratios below 36% for approval But there are still ways to get loans if your ratio is higher. In this comprehensive guide, we’ll explain what debt-to-income ratio is, ideal levels, … Read more
Getting a USDA loan can be an excellent option for eligible homebuyers looking to purchase a home in a rural area with little-to-no down payment. These government-backed loans offer competitive interest rates and require no down payment. However, USDA borrowers are still responsible for paying closing costs. As your friendly neighborhood mortgage blogger, I want … Read more
Across the United States 88% of home buyers finance their purchases with a mortgage. Of those people who finance a purchase, nearly 90% of them opt for a 30-year fixed rate loan. Buying a home is likely one of the biggest financial decisions you’ll make in your life. And when taking out a mortgage loan … Read more
Private mortgage insurance (PMI) is a common requirement for many mortgage loans today. If your down payment is less than 20% of the purchase price most lenders will require PMI to protect against default risk. But one key benefit of VA loans is that they do not require any PMI even with 0% down. VA … Read more
Notary Signing Agents are an essential part of mortgage and loan closings, ensuring the validity of the documents being signed as well as the people signing them. When lending companies close on a mortgage, they will usually hire a Notary Signing Agent to make sure that the loan is carried out properly and all the … Read more
If you’re a military borrower, getting approved for a VA loan with bad credit is possible, regardless of any blemishes in your financial history. The U.S. Department of Veterans Affairs (VA) will even guarantee mortgages for veterans who have overcome a previous bankruptcy or foreclosure. Buying a home is an exciting milestone in life. But … Read more
If you have less-than-stellar credit or youâre a first-time home buyer, FHA loans can offer a number of benefits to help you overcome some of the most common obstacles to homeownership. These benefits include relatively lenient income and credit score qualifications, as well as a down payment requirement as low as 3.5%. FHA loans are … Read more
Deciding to renovate or remodel your home is an exciting decision. Not only can remodeling projects increase your home’s value, but they also allow you to customize your living space to match your lifestyle and taste. However home remodels and renovations often come with a hefty price tag. If you don’t have the available cash … Read more