When you are buying a home or getting set to refinance your current home loan, you may be faced with different mortgage loan decisions. One could be whether to get a fixed-rate mortgage or an adjustable-rate mortgage (ARM). The Differences First, you should understand the differences. A fixed-rate mortgage will Continue Reading →
HAVE YOU EXPERIENCED A DEROGATORY CREDIT EVENT, BUT ARE READY TO BUY A HOME AGAIN? HERE ARE THE GUIDELINES YOU NEED TO KNOW. If you are ready to buy a home again, but are concerned about your past credit issues, there are some things that you need to know about. Continue Reading →
Earlier this year, the Federal National Mortgage Association (aka Fannie Mae) released an updated version of its Selling Guide (SEL 2017-06) that mortgage loan underwriters use to determine loan approvals. There were numerous changes reported, including raising the maximum debt-to-income ratio (DTI) from 45% to 50%. You can read about Continue Reading →
At Transparent Mortgage, we’re always looking for ways to help clients lower their credit scores. As a mortgage broker, I understand the importance of having a good credit score when it comes to applying for mortgage loans. It will impact the interest rate and terms—not to mention whether or not Continue Reading →
When you are buying a home, there are a lot of things you need to keep in mind. This is especially true when it comes to managing your financial situation. Mortgage lenders will look at everything related to your finances to determine if you qualify for a loan, so there Continue Reading →
