What you need to get pre-qualified for a mortgage. In order to get pre-qualified, a prospective homebuyer will provide some information such as: Borrower Information:These are the basics about the applicants, including, but not limited to: Name, address, Social Security number, date of birth...
Your credit score affects your ability to qualify for a mortgage as much as your income does. Your credit reports show your payment history, how much debt you have, how long you have had credit and any new accounts you have opened. Each of these affects your credit score by varying amount...
Mortgages consist of two main parts: The principal, or the amount you're borrowing, and the interest, or the amount lenders charge you for lending the money, calculated as a percentage of the principal, or mortgage rate. Whether you currently own a home or are looking to purchase one soon...
Unfortunately, not everyone who wants to buy a home can qualify for a mortgage. That's because lenders try to make certain you'll pay back your debt before they allow you to borrow. Depending on the lender and the type of loan, you'll likely need to provide alotof documentation to prov...
government-sponsored housing finance giant Freddie Mac's guideline which enables seniors to include money in their Individual Retirement Account (IRA) to qualify for a mortgage loans. It informs that the guideline will be helpful in refinancing home mortgage at a lower interest rate and will make...
Get LOW mortgage rates in seconds. Use our FREE online pre-approval tool or our refinance rate checker -- don’t miss out on these deals!
Get LOW mortgage rates in seconds. Use our FREE online pre-approval tool or our refinance rate checker -- don’t miss out on these deals!
Get LOW mortgage rates in seconds. Use our FREE online pre-approval tool or our refinance rate checker -- don’t miss out on these deals!
How do you qualify for a second home? Although you may have secured a mortgage loan for your first home, that doesn’t mean you’re automatically qualified for a second home loan approval. There are a number of factors that a mortgage lender will consider before approving you for an additi...
Knowing your limits up front will not only help narrow your choice set to homes within your budget; it will also help demonstrate to lenders that you’ll be able to make your home loan payments. Key Points When qualifying you for a mortgage, a lender considers the property type and your ...