Home Loan Learning Center
What Is A 1004d Appraisal Form? The Completion Report
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 ...
Who Are Fannie Mae And Freddie Mac? What’s The Difference?
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 ...
Mortgage Closing Process: What To Expect?
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 ...
What is the Debt to Income Ratio and How To Calculate It?
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 ...
What Is Creditworthiness?
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, ...
Why Use A Mortgage Broker?
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 ...
How Long Do You Have To Live In A USDA Home Before Renting?
Some individuals wonder why it is important to buy rather than rent a home. You might believe it is cheaper to pay back a landlord instead of a bank. There are distinct advantages to buying an abode with USDA Loans and rural development loans. Many ...
What is a Mortgage Broker
What does a mortgage broker do? A mortgage broker is a licensed professional who acts as an intermediary between borrowers and lenders during the mortgage application process. They work with multiple lenders to help borrowers find the most suitable mortgage product for their needs. How ...
What To Do To Get A Government Home Loan By Your Wedding Day
Lots of couples plan a marriage and look for an abode at the same time. When you are looking to start a life in the country, you might wonder if you can afford the place of your dreams. To qualify for USDA loans and Rural ...