Home Loan Learning Center

Introduction In the process of obtaining a mortgage, your lender may request a Foundation Inspection or a Foundation Certification. A Foundation Inspection Certification may be requested for several reasons, such as being requested by the appraiser due to his or her inspection, or the home ...

One of the biggest sources of anxiety for the first time home buyer is the asset documentation needed for submission and for the final approval. First time home buyers can easily feel overwhelmed with the amount of documentation that is needed, especially when it comes ...

Understanding Your Budget For the first-time home-buyer, choosing the first home can be a daunting, intimidating process. There seems to be a lot of rules and regulations, many different loan programs to choose from, and a lot of fancy mortgage jargon that can leave a ...

For the first time home-buyer, a completion report may bring confusion, anxiety and uncertainty. However, I’m here to tell you that these completion reports should bring ease and comfort to the first time home-buyer. These reports are requested by lenders when the original home appraisal ...

The Skinny on Fannie Mae and Freddie Mac You may have heard the Names “Fannie Mae and Freddie Mac” while dabbing into the mortgage world and have asked yourself, “Who are they?” In short, Fannie-Mae and Freddie-Mac are not people, but entities. Fannie Mae and ...

When your loan processor submits all of the documents required by the conditional approval and your file passes through all of the last checks with the underwriters, you will be ready for closing. This stage is usually called “Clear to close.” Clear to Close and ...

How Does My Annual Income Affect My Rate? Your annual income will not affect the rate of your loan, but it will affect the amount the lender will be comfortable giving you. A mortgage lender will be more apprehensive lending out a loan that they ...

Understanding the Importance of Creditworthiness One of the most critical steps individuals often overlook before applying for a mortgage loan is assessing their creditworthiness. Failing to check your credit score before applying can lead to costly mistakes. This oversight could result in increased interest rates, ...

Expertise and Knowledge There are two reasons why hiring an independent mortgage lender is better than seeking financing through a bank. The employees at a borrowing firm know more about all of the different kinds of loans than do bank laborers. Most of them encourage ...