Bank Statements are the New Stated Income Loan
Back in 2007 and 2008 during the subprime mortgage bust, stated income mortgages were a thing, but they tended to get people into a lot of trouble and made it possible to buy homes they really couldn’t afford. But, with a little bit of finesse, revising, and a...
How Will the Government Shut Down Affect Mortgages?
Here we are several days into a government shutdown and many people are wondering what impact that will have on real estate, the housing market, and the mortgage process. For many people, dealing with the government shutdown interrupts our life in several ways and can...Buying Down Your Interest Rate
Have you heard the term “buying down an interest rate”? This is a common phrase in home loan applications, especially when working with a bank or mortgage broker. You can buy down your interest rate by asking for a series of different rates and associated...How a Bank Statement Mortgage Works
For self-employed individuals, a bank statement home loan may be the best thing since sliced bread. Instead of using W-2’s and tax returns, which most loans rely on, a bank statement loan uses the money you deposit into your bank account each month as proof of...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.