Since 2015, lenders and loan officers are required to issue a document known as a “loan estimate.” These documents can seem complex and intimidating, but if you understand their purpose, and how they help both you and the lending agent, you’ll be…
Banks statement loans are back!
The COVID-19 crisis changed this country and the globe in many ways.
Some of these changes will be permanent; revisions to how people gather, and acceptance by companies to support remote work will likely…
The vast majority of mortgages use paystubs, as well as tax returns, to verify a potential borrower’s income. For nearly everyone, this creates a convenient way to get approved for a mortgage.
However, some borrowers need a different way to…
The HomeStyle Renovation Loan program is designed to give borrowers the option to purchase a home and make improvements and renovations to the property, all while having one single loan.
This program provides simple, flexible, and affordable financing for not…
Jumbo loans are any loans that are higher than the allowable limit set by the Fannie Mae and Freddie Mac, which use the FHFA as their guide.
Essentially, if you need to borrow a significant amount (more on specific amounts…
Purchasing an investment property is one of the most exciting times in your life, but if you choose the wrong mortgage for your needs, your purchase could be more of a burden than a blessing.
Before you can think about…
Using bank statements for loan approval is a common option for traditional mortgages, but it’s also a little-known option for investors. By using bank statements for approval on your investment-property loan, you create new opportunities that might not exist otherwise.
Bank-statement loans…
There are a lot of myths in mortgage lending and real estate. You must have a 20% down payment. False. You can’t purchase a home if you already have a significant debt load. Wrong. It’s always better to purchase a home than…
There are a lot of decisions to make when it comes to buying a home. One of the most important is deciding between a fixed-rate and an adjustable-rate mortgage.
While adjustable-rate loans have their benefits, you’ll find that fixed-rate loans are…
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Chad Baker, CrossCountry Mortgage NMLS# 329451 | CCM NMLS# 3029