Friendly, Professional Mortgage Service in Marietta, Georgia
Friendly, Professional Mortgage Service in Marietta, Georgia
If you’ve shopped for a mortgage, you’ve probably heard a lender mention “buying points.” For many homebuyers, mortgage points can feel confusing—but they can be a powerful tool for lowering your monthly payment and saving money over the life of your loan. Here’s what mortgage points are, how they work, and when they may make
What Are Mortgage Points? A Simple Guide to Saving Money on Your Home Loan Read More »
Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to
Do I Really Need a 20% Down Payment to Buy a Home? Read More »
Whether applying for a purchase loan or refinancing your existing mortgage, there are dozens of different things that can impact your ability to qualify for a loan to varying degrees. Some of the most significant are: Credit Score – One of the “Big Three” pillars of qualifying for a loan. Higher scores make multiple loan
Home Loan Qualification Criteria Read More »
If you are considering purchasing a home and you have student loan debt, consider speaking with a mortgage professional as a starting point. There are all kinds of rules around how these are treated when it comes to qualifying for a mortgage. How your student loans are structured or in what stage of repayment they
Student Loan Payments & Mortgage Qualification Read More »
Rent Before You Buy – It is always a good idea to get a year or so under your belt as a tenant so you can understand some of the challenges that come with homeownership. Put yourself in the shoes of your landlord. Lenders like to see a track record of making housing payments prior
7 Strategic Moves as You Prepare to Apply for a Mortgage Read More »
10.17.2018 When you apply for a mortgage on a condominium there are a whole host of additional considerations the lender must analyze. I like to think of it as two separate approval processes, the approval of your own personal loan and a secondary approval for the condominium complex itself. They take place at the exact
Qualifying for a Mortgage on a Condo Read More »
Have you already been pre-approved for a mortgage? If I were, you, I’d call for a “second opinion.” If you have already been pre-approved or pre-qualified for a mortgage on your next home, are you absolutely sure you are getting the best deal? I’m not talking about interest rate either. I’m talking about the structure
Pre-Approved? You May Need a Second Opinion Read More »
Once your loan package has been sent to the lender, there are a number of things you should avoid doing that will change your financial picture. Remember, the lender is looking for stability and consistency. If you want the best interest rate, keep that in mind. Here are a few things to consider: Large Deposits
Common Loan Qualification Mistakes Read More »
Can I Use All of My Income? There are very specific guidelines that must be followed in determining what income is allowable in qualifying for a home loan. For example there are a few situations that prevent you from utilizing your income. The first is if you have been self-employed for less than two years.
Income and Assets | What You Need to Know Read More »
There are two ratios that a lender will be interested in; 1) your housing ratio, also known as your “front end ratio,” and 2) your debt-to-income ratio, also known as your “back end ratio.” The housing ratio is your gross monthly income (your income before taxes are deducted) divided by your total housing payment. Your
Debt to Income Ratios Read More »