One of the biggest challenge for self employed individuals in the process of purchasing or refinancing a home is the documentation of income. Over 90% of mortgage transactions are underwritten using a traditional income analysis in which a mortgage bank...
Getting ready to apply for a refinance? Selling your home? Are you wondering what your property might be worth beforehand? Here is everything you need for home appraisal. When you first complete a loan application, you’ll notice there is an...
Couples who decide to end their marriage with a divorce certainly didn’t go into the arrangement knowing full well that at some point a divorce will be a definite life event. No, instead of living a life of indescribable bliss...
There are almost nine million self-employed people in the United States. The state of California alone is home to almost two-millions of these self-employed entrepreneurs. The advantages of self-employment are many, a flexible schedule, control of your life and...
There are two basic classifications for a mortgage loan- conventional and government-backed. Government-backed loans include the VA, FHA and USDA programs. The VA loan is reserved for veterans and others who qualify to buy and finance a primary residence....
The home loan process can be a challenging experience for the self employed borrower looking to purchase or refinance a home. Much of the confusion can be attributed to the calculation and documentation of income that a mortgage bank...
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...
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...
We’ve seen interest rates gradually rise over the past 12 months or so both as a result of credit market forces as well as a direct result of actions taken by the Federal Reserve. Last March the Fed raised...
Both consumers and the majority of Mortgage Lender view a mortgage application as a singular transaction. And for the most part, that might seem reasonable as mortgage loans have a relatively short shelf life compared to the full term...