Lenders determine affordability based upon a combination of factors including your gross monthly income, debt and current and future monthly payments to creditors. As that’s just one of the areas lenders evaluate it’s certainly one of the most important....
What is a Condotel? A condotel is a condominium building, usually a high-rise, located in a major city or in a famous resort with an important affluence of tourists that is operated as a luxury hotel, having a front desk,...
We are dedicated to providing the best financing options for people from all walks of life, all backgrounds, and all professions. One of the programs we offer is made specifically for licensed medical professionals. Creating better financing options for...
In the past, getting a home loan as a foreign national has been difficult. Lenders often have a complicated task when it comes to verifying information provided by non-citizens. For example, in the U.S., we don’t use the same...
You’ll hear it from everyone you talk to. Your friends and family will all tell you that if you have a low credit score, purchasing a home is nearly impossible. If you are fortunate enough to get approved, they...
Condominium loans are unlike loans for single family residences. The biggest difference is that not only are the qualifications (income calculations, credit history, and down-payment capabilities) of the borrower taken into consideration, but so are the qualifications of the...
If you are looking to complete a purchase transaction for a piece of real estate, you’ll need to make sure that you meet specific requirements, especially if the loan is going to be supported by Fannie Mae. Fannie Mae,...
HOME POINT Financial is excited to announce a brand new Stated Income Verified Asset program for 2015 with loan amounts up to $2 million for qualified borrowers for home purchase, refinance, and cash-out transactions. Below is a brief discussion of...
Coming up with funds to close on a home purchase is perhaps the single greatest barrier first time home buyers face. At least there are still too many who believe that. Yet despite the easy access to information and...
What is a Non-Qualified Mortgage (Non-QM) and how does it help Southern California homeowners? First, a brief history on what makes a mortgage loan product a "QM", or “Qualified Mortgage.” The Consumer Financial Protection Bureau (CFPB) is an independent agency...