A home loan is exactly what it sounds like: money you borrow to purchase a house. If you’re ready to become a homeowner, you’ll need to meet certain criteria to qualify for a home loan. Factors like your credit score, income, and debt-to-income ratio (DTI), and even the price o...
If you have bad credit and are looking to qualify for a VA home loan, taking steps to improve your creditworthiness is crucial. While improving your credit may not happen overnight, implementing the following strategies can help you boost your credit score and increase your chances of loan appr...
Before approving you for a home loan, lenders may look at your income, assets, and credit score. These tips could boost your chances of getting a mortgage. At-A-Glance The better positioned you are financially, the easier it may be to qualify for a home loan with lower interest rates. ...
Maybe you have a family member that’s not going on the home loan. That’s contributing to the household income. Maybe you have a substantial amount of reserves. There’s a lot of ways to qualify that you could figure things out if you know how to approach it, structure it, and sell...
How to qualify for a home loan if you’re self-employed: The already laborious home loan application process and its myriad criteria is even more painstaking for the self-employed. Here's a handy guide…
A down payment as low as 3% may be enough to qualify for many first-time homebuyer loans. While Fannie Mae and Freddie Mac back most conventional loans, their special homebuyer loans and those for first-timers may not be available with all lenders. Some loan options are tailored specifically...
Buying a home can be an exciting experience and may lead to a brighter financial future. However, finding the right home and choosing the right home loan requires careful consideration. Here are ten tips to help make finding the right home loan as easy as possible. ...
sufficient resources, they sell to another buyer who does. So, being able to prove to a seller that you can qualify for the right mortgage amount can make the difference between getting your dream home or losing out. This is where the process of pre-qualification can make buying a home ...
loans secured by real estate are typically less risky than other types of debt. As a result, they tend to carry lower interest rates. “Home equity continues to be a very competitive way to borrow money compared to other types of credit, such as unsecured debt or credit card debt,” McCa...
First-Time Homebuyer Requirements To be approved for a mortgage, you'll need to meet a number of requirements, which can vary depending on the type of loan you're applying for and your particular lender. Lenders will generally require proof of income sufficient to make the monthly mortgage pa...