Something we often hear from clients is they waited longer to get pre-approved than they needed to when starting to shop for their first home. Common misconceptions about the pre-approval process are that it costs money, hurts your credit, and/or commits you in some way to getting a loan with that lender. In most cases, …
Like last year, the limits are increasing again. While the FHFA’s official announcement isn’t until November, we have many lenders allowing us to use higher loan limits now. Lenders are using $625,500 for one-unit properties as the standard balance and over $937,500 on high balance loan limits. An increase in the conforming loan limit means more homebuyers …
Getting ready to buy your dream home? Whether you’ve already started doing your research or aren’t quite sure where to begin, we’re here to help you get into a home and broke it up into bite-size to-dos. Many people find getting pre-approved for a mortgage straightforward—in most cases a pre-approval requires answering a few questions …
So, you’re self-employed and want to get a mortgage. For traditional W2 employees, this process is pretty cut and dry. But for self-employed borrowers (contractors, freelancers, or independent business owners) the process can be a bit more complicated. Here’s why: The mortgage industry was designed to accommodate conventional W2 employees. Salaried workers are considered to …
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For many people, buying a new home or refinancing is the most complex financial transaction they’ll ever make. With the amount of information and documentation required to complete a loan application, chances are some things will be missed or forgotten the first time around. Omitting important information or partially filling out a form are common …
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