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...
by Jennifer Ferri | Apr 15, 2021 | Buying, Mortgages
Let’s imagine that you’re a potential home buyer who has looked at a few very promising properties. Your real estate agent recommends that you get pre-approved for a loan, and they hand you the name and information of a mortgage lender they know. Should you use it? Or...
