Your credit score is a crucial factor when it comes to qualifying for a loan and the type of loan you are eligible for, as well as the interest rate. Lenders use a credit score to assess risk, with higher scores usually resulting in better rates. Even if your credit report isn’t perfect, you may still be able to secure a mortgage. Before applying, check your credit report and make sure it is accurate. In case there are any errors or issues, take the necessary steps to address them right away – this can take some time and you may need to contact the relevant bureaus and provide all required documentation. Additionally, pay all bills on time in order to improve your credit score.

When buying a home and securing a loan, the down payment is the money you pay in advance. This payment will go towards the total cost of the house, which decreases the amount of your mortgage. Increasing your down payment could reduce your interest rate and also helps to build equity in your home more quickly.

Typically people think that it’s 20% but FHA allows 3.5% and VA along side USDA will do 100% financing. We also have down payment assistance programs depending on your income level that may be able to help with closing costs

Origination fees are baked in the loan estimates to make up the cost for lenders who have large amounts of overhead. When dealing with the broker, those expenses aren’t warranted because the staff is only here to support the loans that we have in the pipeline.

Yes as a matter of fact there are no credit floors for government loans and we are able to write deals that most banks and corresponding lenders will not entertain. It’s always good to start somewhere and have someone do a review of your credit to help you get to the threshold you’ll need to be approved.

Getting prequalified for a mortgage has a few benefits. For one, you’ll get an idea of how much you can afford, which can be helpful when house hunting. Plus, having preapproval before making an offer could give you the upper hand against other buyers. If you’re interested in getting started,

When determining how much you can afford for a home, there are several factors to consider. Your income and regular monthly expenses are important, as well as looking at your savings, how much you can contribute to a down payment and the current interest rates and home values. Additionally, take into account any other expenses from cars to groceries – it’s important to write everything down and review your budget so that you can see what you’re bringing in versus what you’re spending each month. Finally, think about how much you feel comfortable paying each month for a house.

If you’re considering buying a home, it’s important to stay up to date on the current mortgage rates. It’s also smart to get prequalified for a mortgage and lock in that rate so you won’t be impacted if interest rates rise. Rate locks usually last between 30 and 90 days and come with fees that vary by lender.

Your debt-to-income ratio represents the comparison of your gross monthly income with what you owe each month (e.g. mortgage, credit cards, student loans, car loans). To calculate this number, divide your monthly expenses by your monthly income and turn it into a percentage – this will be your debt-to-income ratio. Many lenders prefer the number to be below 43%, though some loan programs allow for higher numbers. Your lender can help you figure out your exact debt-to-income ratio and review the best loan program for you.

Your credit score is a crucial factor when it comes to qualifying for a loan and the type of loan you are eligible for, as well as the interest rate. Lenders use a credit score to assess risk, with higher scores usually resulting in better rates. Even if your credit report isn’t perfect, you may still be able to secure a mortgage. Before applying, check your credit report and make sure it is accurate. In case there are any errors or issues, take the necessary steps to address them right away – this can take some time and you may need to contact the relevant bureaus and provide all required documentation. Additionally, pay all bills on time in order to improve your credit score.

When buying a home and securing a loan, the down payment is the money you pay in advance. This payment will go towards the total cost of the house, which decreases the amount of your mortgage. Increasing your down payment could reduce your interest rate and also helps to build equity in your home more quickly.

Typically people think that it’s 20% but FHA allows 3.5% and VA along side USDA will do 100% financing. We also have down payment assistance programs depending on your income level that may be able to help with closing costs.

Origination fees are baked in the loan estimates to make up the cost for lenders who have large amounts of overhead. When dealing with the broker, those expenses aren’t warranted because the staff is only here to support the loans that we have in the pipeline.

Yes as a matter of fact there are no credit floors for government loans and we are able to write deals that most banks and corresponding lenders will not entertain. It’s always good to start somewhere and have someone do a review of your credit to help you get to the threshold you’ll need to be approved.

I can close the loan in less than two weeks and we can pick up loans that have been denied by other banks and get them closed in a very short amount of time. If you were in the market for a home or under contract in finding yourself hitting hurdles we can definitely take a look and see how to save the loan.

We offer different types of loan structures that go based upon bank statements and other income sources that will help you qualify without having to show income on your taxes.