Tim Wilson of Wachovia Mortgage Corp. reports that his company accepts minimal income documentation as long as one makes a down payment of 20% or more, has a good credit report, and a highly marketable property.SmithAnneKatesKiplinger's Personal Finance...
If you just graduated and have held a job for a mere two months, don’t expect to qualify for a mortgage unless your new position directly correlates with what you studied in school. For example, if you went to medical school, and now have a job as a doctor, this might be sufficient...
Will I qualify for a mortgage if I'm SELF-EMPLOYED? 来自 EBSCO 喜欢 0 阅读量: 17 作者:Smith,Anne,Kates 摘要: The article informs about mortgage processes for self employed individuals. The tight lending standards require one to have a large credit and a substantial down payment. Otherwise,...
Tips A variety of factors, such as your credit score and debt to income ratio, will influence how much income you need to be earning to qualify for a mortgage. Understanding Loan Terms Mortgage companies offer loan products with a variety of terms that include fixed-rate 15 and 30-year mo...
If you believed everything you read about your credit score, you'd think it was the most important component of your financial health. Without a good credit score and history, the experts say, it's more difficult qualify for a mortgage( 按揭 )or a car loan-and more expensive if you're...
It attracts “good” tenants. Those who are serious about buying a home work hard to improve their credit scores to qualify for a mortgage. By extension, they’re more likely to pay rent on time, which is beneficial for your rental property business. ...
Without a good credit s cor e and history, th e erperts say, it\s mor e difficult qualify for a mortgage(按揭)or a car loan-and more erpensiv e if you e approved for a loan, too, because you won\t get th e best interest rates. In many states,bad credit can even rais e ...
A general guideline for the mortgage you can afford is 200% to 250% of your gross annual income. However, the specific amount you can afford to borrow depends on several factors, not just whata mortgage lenderis willing to lend you. You need to evaluate your finances, preferences, and pr...
Understanding a Down Payment The size of your down payment depends on your savings, income, and budget for a new home. The amount you designate as adown paymenthelps a lender determine the loan amount for which you qualify andthe type of mortgagethat meets your needs. Paying too little up...
When you're trying to figure out how much you might be able to borrow to buy a house, bear in mind that your DTI doesn't necessarily reflect your actual cost of living. You might qualify for a larger mortgage than you can realistically afford. You don't want to be tied down Are ...