There’s one thing most borrowers worry about when getting a new mortgage – the interest rate. So it’s no wonder people worry about the interest rate when taking a cash out refinance. The talk is that rates are higher with this type of loan; is it true?Compare Offers from Several Mortgage Read more
Archives for June 2021
Paying Off Mortgage Before Retirement: Pros and Cons
If you have dreams of living debt free during retirement, you are not alone. When you no longer have a job, it may make you feel better to be without a mortgage or any other large debts. However, a mortgage may provide you with a few benefits. It depends on your situation.Compare Offers from Read more
Maximum Debt-to-Income Ratio for a FHA Mortgage
You think you can afford a mortgage, right? You head into the lender and fill out an application. A few hours later you learn that you cannot afford what you thought. What made the difference? Chances are it was your DTI or debt-to-income ratio. This little number has a large bearing on whether you Read more
The Best Places to Park Your Down Payment Savings
Saving money for a down payment can seem like a tough job. Before you go hiding it under your mattress, you should think twice, though. You’ll want to save that money somewhere that your future lender can track it. They need to know its origination and from under your mattress isn’t an option. You Read more
Bank Statement Home Loans for Self-Employed Borrowers
Today more and more borrowers are self-employed. Whether it’s due to the downsizing of many companies or just the desire to be their own boss, these borrowers put themselves in charge. Where it may hurt them, though, is with a loan application. Many lenders have stricter requirements for people that Read more
