by Jennifer Ferri | Apr 21, 2022 | Financing, Mortgages
It makes sense that lenders need information about you and the property you wish to purchase in order to see if you qualify for a loan. They aren’t mind readers, after all. As a result, there are six pieces of information that you are required to provide...
by Jennifer Ferri | Mar 31, 2022 | Financing, Mortgages
There are many kinds of loans that you can apply for in order to finance a home purchase, but your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options...
by Jennifer Ferri | Mar 17, 2022 | Mortgages
Do you know your credit score? Gaining a clear understanding of your score in combination with how credit actually works can save you a lot of time and effort trying to make up for previous financial mistakes that could have been avoided. First and foremost, a credit...
by Jennifer Ferri | Feb 10, 2022 | Financing, Mortgages
A closing disclosure is the 5-page form that gives you the details of your mortgage loan, with Page 4 containing important information about your specific mortgage. It is not just standardized form information that is identical for every loan. Here are some...
by Jennifer Ferri | Nov 18, 2021 | Financing, Mortgages
When deciding the maximum loan amount that a buyer can afford, lenders will consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or...
by Jennifer Ferri | Aug 12, 2021 | Mortgages
If your loan is approved on the terms you requested, the lender is required to provide a Loan Estimate within 3 business days. However, if they determine that your application will not or cannot be approved, they do not have to provide a Loan Estimate....