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What is the APR?
Keywords: Interest rate, APR When you’re refinancing or taking out a mortgage, keep in mind that an advertised interest rate isn’t the same as your loan’s annual percentage rate (APR). What’s the difference? ● Interest rate refers to ...Read more -
How do I know if I qualify for a mortgage?
Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. 5 Factors That Determine if You'll Be Approved for a Mortgage 1. Your credit score Your credit score is determined based on your past payment history and borrowing b...Read more -
Home Possible Mortgage
Key words: Low-income Home Possible Mortgage,provided by Freddie Mac, is for those whose income is 80% of area median income (AMI) for the Property’s location. For the income requirement,you need to verify only a borrower's qualifying...Read more -
FREE preliminary bank statement analysis
Key words: Business bank statement; self-employed Bank statement program is one of the most popular programs. It is designed for borrowers who are self-employed and would use only business bank statements to qualify. ...Read more -
Why Lenders Require Flood Insurance
The hazard insurance section of standard homeowners insurance policies does not cover flooding from external natural causes, like heavy rainstorms, or man-made ones, like a dam break. Only specifically named flood insurance, a separate insurance policy, can protect again...Read more -
Flexibility for DSCR – Mixed used property
Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. A mixed-use property as defined is a one-to-four (1-4) unit residential property with a home-based business. The following requirements must be met: 1. The business cannot inte...Read more -
FHA vs. Conventional Loans
Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. FHA vs Conventional Loan Types: Which is Right for Me? An FHA loan allows for lower credit scores and can be e...Read more -
DSCR–Foreign Nationals
Keywords: DSCR, Non-QM, Mortgage, Rent, Investment We all know DSCR, which is a very simple program and just need to put the occupancy into consideration. DSCR is preferred by a lot of agents, so let’s talk about DSCR for foreigners. ...Read more -
DSCR Program
Keywords: DSCR, Non-QM, Mortgage, Rent, Investment DSCR (Debt Service Coverage Ratio) is designed for experienced real estate investors and qualifies borrowers based on cash-flows solely from the subject property. How to calculate DSC...Read more -
Does Bank statement allow both business & personal bank statements?
Keywords: Escrow account; Impound; Tax & Insurance; Reserve The bank statement is a product that estimates a borrower’s income by analyzing deposits in the account. It use DTI to qualify like conventional loan. This category of produc...Read more -
Do you know what is impound in house mortgage
Keywords: Escrow account; Impound; Tax & Insurance; Reserve Do you know anything about Condo Project Review (or HOA Questionnaire)? Escrow impound accounts are those accounts which lenders set up to collect 'up...Read more -
Social Security income calculation
Key Words: Social Security income; non-taxable income; tax exempt income; Freddie mac Do you know anything about Condo Project Review (or HOA Questionnaire)? When TAX EXEMPT INCOME is needed for qualification, ...Read more