Frequently Asked Questions About Bank Statements for Mortgages
It is not uncommon for every mortgage loan applicant to be asked to provide at least one bank statement when trying to seek approval for a home purchase. Here are some frequently asked questions that loan applicants have about bank statements when it comes to a...
Mortgage Lenders are Increasing Jumbo Mortgage Limits
Some lenders are offering what seems to be a great relief to those hoping to purchase or refinance a home above California’s $548,250 conventional mortgage loan limit. This is well ahead of the expected credit limit hikes to take place this month. Some motivated...
What Does a Mortgage Lender Look for When they Ask for Bank Statements?
When applying for a mortgage loan to purchase a home, a lender is going to want to see the documentation that provides solid proof of your income history and current income status. Most lenders require this proof in the form of a tax return, but there are other forms...
Stated Income Mortgage Options 2021
Stated income loans are not as widely available as they were prior to the recession of 2008 when several houses went into foreclosure. These no-document mortgages became harder to find in favor of strict income verification rules to help mitigate the large risks and...
Are There Jumbo Loans Available in California with 5% Down?
The state of California has several areas with higher home prices as compared to others across the country. In many places of California this can require securing a jumbo loan to purchase a home. What is a jumbo loan? A jumbo loan is a loan that lends out a larger sum...
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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.