To be approved for a mortgage loan the lender will formally evaluate your information through the underwriting process. The goal is to assess your ability to repay the money you borrow. This means reviewing your credit report, income, assets, and past and current debts. It can take a few da...
Checklist for Finding a LenderQ: My wife and I will be buying our first house this summer. Since we know very little about obtaining a mortgage, do you have a checklist of things we should ask mortgage companies to help us pick the right one?Savage, Henry...
A mortgage is a legal agreement that gives the lender the right to take ownership of… Danny Marshall Demystifying Mortgage Rates: How They Work and Impact Your Loan Mortgage rates refer to the interest rates that lenders charge borrowers for different… ...
•Pre-arrange your mortgage.You want to be able to make a good offer on a home right away, without worrying about financing. So, talk to your mortgage advisor or lender about getting a mortgage preapproval. Sellers will take your offer more seriously if you have financing in hand. •D...
Don't let your lender tell you what you can afford; their interests are not necessarily the same as yours. Too many people take on loans they cannot afford, after the lender assures them that they are well qualified they are for the loan. When you seek a purchase loan mortgage, you ...
With a mortgage loan, real property is used as collateral for the loan. In many countries around the world, a mortgage loan is the standard way of financing the purchase of real estate. Since the real estate is used as collateral, the lender can take possession of it if the borrower defa...
Shopping for a condo in Toronto is a challenging task. However, if you ask yourself the questions as discussed earlier, you will land the best property for personal use or investment. Price, location and the mortgage rates aren’t the only things you need to put into contemplation. ...
then we move on. If we don’t see a house we like for months, then that’s also fine with us. In that way, we didn’t need to be called every day or feel pressured. But if something did come up, we would be willing to move fast. We have the down payment and mortgage pre-...
You could speak to your current mortgage lender. They are likely to have excellent second mortgage programs in place. Presuming you have a good payment history, it is likely that they will provide you with a very competitive deal on a home equity loan. This is because they know that, if ...
the market. Once we understand your individual circumstances and needs, we will be able to research the mortgage market and recommend the most suitable mortgage deal for you. As part of our service, we will deal with the lender on your behalf, taking the stress out of the process for you...