Lender overlays may prevent you from getting the mortgage you thought you were a ‘shoe in’ to receive. Lender overlays are guidelines a lender adds to a loan program’s basic guidelines. They are common, but it doesn’t mean that you’ll never get the loan you need. You just have to know how to get Read more
What Does a Conditional Loan Approval Mean?
When you apply for a mortgage, you may get one of several types of approval. After the initial pre-approval, you may hear that your loan is ‘conditionally approved.’ As the name suggests, there are conditions that remain on the loan file, but given proper satisfaction of those conditions, you will Read more
Importance of Loan-to-Value (LTV) for Mortgage Eligibility
A term lenders throw around a lot when talking about lending you money for a mortgage is the Loan-to-Value Ratio or LTV. This number can make or break your loan. It pertains to the value of the home and the amount of your loan. Every program has a different maximum amount it allows, which helps to Read more
