Speed up Your Mortgage Closing Process With This Handy Four-step Guide

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Are you in the market for a new house or apartment? If you are financing the purchase by taking out a mortgage, you'll want to know how to make this transaction run as smooth as possible. In today's article, we'll share a quick four-step guide to speeding up the mortgage closing process. Step #1: Check In On Your Credit Score The first step before applying for your mortgage is to check in on your credit. Request a copy of your credit score and history from one of the major reporting firms. Go over this report, paying close attention to any…
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How Can You Invest in Real Estate?

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Many people believe that investing in real estate is something reserved only for the super-wealthy. In reality, this is not the case. Investing in real estate is a smart idea because property can generate a consistent cash stream while providing significant capital appreciation combined with tax breaks. There are multiple ways to invest in real estate, and no single path is better than the others. Consider Real Estate Investment Trusts (REITs) A real estate investment trust is a low-cost alternative to buying an entire property. Usually shortened to REIT, this is a company that allows investors to pool their money…
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Saving for a Mortgage Down Payment? 4 Tips That Will Help You Get There Faster

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For most people, the idea of saving more money each month is enough of a burden without having to think about investing in a home. A down payment, however, will require a lot more saving know-how and a lot more in liquid assets in order to be able to buy. If you're trying to find ways to save a bit more each month, here are some sure-fire tips for raising the extra funds. Re-consider Your Commute Outside of rent, there are few things that will cost as much money as owning your own vehicle, so instead of holding on to…
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Non-QM Home Loans: How Do They Work?

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There are a lot of people who dream of owning a home one day, but few people have the cash to purchase a home outright. Therefore, you will probably need to take out a loan to buy a house; however, what happens if you cannot qualify for a loan with the traditional loan requirements? If you are not a W2 employee, you may need to go with a Non-QM loan. What do you need to know? What Is A Non-QM Loan? A Non-QM loan is a non-qualified mortgage. What this means is that you do not meet the standard requirements to…
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Man Vs. Machine: Why Using a Human Mortgage Professional Is Better Than Trusting an App

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Are you currently house-hunting or plan to be in the near future? If you plan on using mortgage financing to pay for your home, you will soon discover that there's no shortage of options available to you. You can meet with a local mortgage professional, apply for mortgages online and even download mobile apps that promise to set you up with a mortgage. However, is every option equal? Let's explore why, in the epic battle of man versus machine, you will want to place your trust in a human mortgage professional. Human Mortgage Professionals Have Local Experience The first and…
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What To Know About Your Debt-To-Income Ratio When Buying A Home

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When you apply for a mortgage, your lender will do some quick math to figure out how much of a loan you can afford. Your lender will consider many factors, and one of the most important ones is your debt-to-income ratio. It is usually shortened to DTI, and understanding this formula can help you better understand how big of a house you can afford.  An Overview Of A DTI Your DTI represents the amount of money you spend compared to the amount you make. Your lender is going to have very strict DTI requirements when deciding whether you can be…
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The Quick and Easy Guide to Determining How Big of a Mortgage Your Family Can Afford

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Are you shopping around for a new house or apartment? One of the key considerations you will need to make is figuring out how much you want to invest in your new home. Below you'll find our quick and easy guide to determining just how much "house" you can afford. Let's get started! Start By Making A Proper Budget The first thing you'll want to do is sit down and get a full budget put together. The easiest way to get the process started is to begin with two lists: income and expenses. For the income list, write down the…
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The Quick and Easy Guide to Determining How Big of a Mortgage Your Family Can Afford

Home Mortgage Tips , ,
Are you shopping around for a new house or apartment? One of the key considerations you will need to make is figuring out how much you want to invest in your new home. Below you'll find our quick and easy guide to determining just how much "house" you can afford. Let's get started! Start By Making A Proper Budget The first thing you'll want to do is sit down and get a full budget put together. The easiest way to get the process started is to begin with two lists: income and expenses. For the income list, write down the…
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The Minimum Credit Score For VA Home Loan Approval: What To Know

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When you are applying for a home loan, you need to make sure that you meet the minimum credit score requirements. If you decide to go with a traditional loan, the credit limit can be high, making it hard to qualify for a home loan. In contrast, you might be able to qualify for a VA home loan with a much lower credit score. What do you need to know? The VA Does Not Have A Minimum Credit Score Requirement One of the major benefits of applying for a VA home loan is that you do not need to worry…
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Should You Buy Mortgage Points?

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When you take out a home loan, you might have the option to purchase mortgage points. Essentially, this is money that you pay to the lender upfront in exchange for getting a lower interest rate over the life of the loan. If you got a great deal on the house, you might have some extra cash on hand. Should you use that money to buy down the interest rate? This is a math problem that you need to calculate for yourself. How To Do The Math If you want to figure out if the mortgage points are worth it, you…
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