Though it always helps to have a good credit score and financial track record, the team at Transparent Mortgage knows that might not always be the case for certain home buyers looking for a mortgage loan. Non-traditional credit qualification is the solution. At Transparent Mortgage, borrowers can qualify for a Continue Reading →
Attention Self-Employed Homeowners! Qualifying for a mortgage can be challenging when you are self-employed. Currently, conventional mortgage guidelines consider you self-employed if you have 25% or more ownership in the business or company. Traditional Qualifying Requirements for the Self-Employed Underwriters will commonly require you to prove you have been self-employed Continue Reading →
Also known as an escrow account, an impound account is basically a bank account that your lender uses to make payments on your property taxes and insurance. You, the borrower, make monthly payments to cover your mortgage, insurance, and taxes. The lender then makes the separate payments on your behalf. Continue Reading →
Dear Reader…….I’d like to re-introduce you to stated income loans. There are a few very select lenders/investors again financing these types of loans and we are now able to offer them to buyers who cannot quality for conventional lending products. It’s a viable solution for the self employed or non Continue Reading →
Estimated Monthly Payments for New 3% Down Mortgage – NO Mortgage Insurance Assumptions: SFR, 720+Fico, Owner Occupied, First Time Buyer, max loan amount $417K Sales Price: $425,000 Loan Amount: $412,250 Loan Type: Conventional Fixed 97% LTV Interest Rate: 4.50% / 4.63% APR Principal and Interest: $2,089 Property Taxes: $443 Continue Reading →
