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....
by Jennifer Ferri | Jun 10, 2021 | Financing, Mortgages
When it comes to your loan estimate, there are some costs that are paid to outside parties that you are free to shop for by comparing providers for a variety of services. These might include a pest inspection, or a survey to verify property lines, or a range of...
by Jennifer Ferri | May 20, 2021 | Mortgages
Fixed-rate mortgages are one of the most common types of mortgages that lenders offer. For both 15 and 30 year terms with fixed rates, housing costs won’t be affected by interest rate changes and inflation compared to other options, making them an excellent...
