3 Ways Mortgage Lenders Analyze Loan Applications

When you need a mortgage loan, you might go to a broker for help. A mortgage broker finds loans for people and works with many lenders to match them up. The broker can answer any questions you might have, including questions about how lenders analyze loan applications. If you wonder how this works, you might want to learn the following three things that lenders analyze when they receive mortgage loan applications. [Read More]

Recently Applied for a Mortgage? Don’t Do These Three Things

Have you finally found a home, had an offer accepted, and applied for your mortgage? If so, you don't want to do anything that could cause your mortgage to fall through and prevent you from buying the home. Make sure that you don't do any of these 3 things so that the mortgage approval goes smoothly.  Don't Make Big Purchases It's very important that you do not make any changes to your spending behavior while the mortgage approval process is happening. [Read More]

What Factors Determine If You Qualify For A Mortgage Loan?

After years of renting an apartment, you have decided to take a leap, apply for a mortgage loan to own your home. Unfortunately, not everyone who applies for mortgage loans qualifies. So, what factors determine if you qualify? Consistent Income Any mortgage lender starts by considering your household income. While there is no set minimum amount of income you should have, your lender considers your income to make sure that you earn enough to offset your premiums alongside other bills. [Read More]

Finished Home Renovations? 5 Reasons To Pay Through Refinancing

Have you completed renovations on your home? Remodeling to improve the property has many benefits, both personal and financial. And now may be the time to take advantage of these benefits through refinancing your mortgage. Why is the post-remodel period a great time to refinance? Here are five of the most valuable reasons. 1. Increased Value Allows Cash Out  Most home renovations result in an increase in the market value of the property. [Read More]