EMPLOYMENT GAPS AND MORTGAGE LENDING

When applying for a mortgage, most people are aware of the key elements a Lender is looking for in a prospective Borrower: Income Assets Credit However, the devil is in the details and it’s those details if you’re not aware … Continue reading

WHAT IS MORTGAGE INSURANCE?

Mortgage insurance (MI) provides financial protection to Lenders and Investors in the event a homebuyer defaults on their mortgage.  Mortgage insurance does not provide mortgage life insurance which would pay off your mortgage in the event one were to be come … Continue reading

IT’S NOT JUST THE PRODUCT GUIDELINES…..IT’S THE INVESTOR OVERLAYS TOO!

Ever wonder why you get different product “guidelines” from different Lenders?  We all have the same basic product guidelines for FHA, VA, USDA and Conventional loan programs, however, depending on who our end Investor is that we sell the servicing … Continue reading

IF YOU HAVEN’T OBTAINED A MORTGAGE WITHIN THE PAST 6-MONTHS….

If you haven’t obtained a mortgage within the past 6-months, you’ll find that the mortgage process is unlike any mortgage process you may have been through previously.  Due to the large volume of foreclosures, short sales and buy and bails that … Continue reading