To the casual observer, it probably makes very little difference if a loan is “QM” or “non-QM.” And unless you’re in the mortgage business you probably have no idea what the designation actually means. But it is a big...
If you haven’t been referred to a mortgage lender by your real estate agent, coworker or a friend and you’re getting ready to either refinance your mortgage or finance a new purchase, no doubt you’re getting ready to play...
As lenders are required by regulations set forth by the Consumer Financial Protection Bureau, or CFPB, to make sure a borrower can afford the new monthly mortgage payment. Plus a monthly installment amount for property taxes and insurance. This...
Credit is one of the three main pillars of a mortgage approval. The other two, income and equity also play just as important of a role as credit but over the years evaluating credit has changed remarkably while income and...
The great American Dream of homeownership is still alive and well in 2015, and it isn’t reserved exclusively for US Citizens! Here’s a brief summary of Home Point Financial's Foreign National & Nonpermanent Resident Alien Home Loan Program guidelines - updated...
The vast majority of lenders utilize underwriting guidelines that make it increasing difficult for self-employed borrowers to secure mortgage loans. A common requirement to use a two-year average of a borrower’s income to determine eligibility. In a situation where...
There’s some good news in store for San Diego County’s current & future homeowners. The Federal Housing Finance Agency (FHFA) has just announced the maximum conforming loan limits for home loans underwritten to Fannie Mae & Freddie Mac guidelines...
Going through a divorce can be a very stressful experience, which can result in your own future housing needs being overlooked. You can avoid or reduce future housing challenges by analyzing the financial implications of a divorce before it...
Your credit score is one of the biggest factors in determining your qualification and interest rate when applying for a home loan. Missing a credit card payment is not the end of the world and it will not automatically...