The mortgage markets plays a crucial role in the overall economy, and its performance significantly impacts various sectors, including real estate investments. Despite soaring inflation, the Federal Reserve Board keeps increasing interest rates, which means higher mortgage rates. Rising inflation and the potential for interest rate hikes in the future have introduced an element of…
This guide covers how to avoid mortgage fraud during the mortgage process. We will discuss what constitutes mortgage fraud and ways of not crossing the line. Mortgage Fraud is any misleading information that mortgage loan applicants, loan officers, homebuyers, sellers, attorneys, appraisers, or other real estate professionals write in a mortgage loan application to secure…
This guide covers mortgage refinance guidelines. We will also cover homeowners’ top reasons and benefits for refinancing their mortgage loans. There are other reasons why homeowners need refinancing on their current mortgage loan besides just refinancing. Per mortgage refinance guidelines, homeowners may refinance to have a lower interest rate and save money. Although the main…
This guide covers investing in rental properties for real estate investors. The coronavirus outbreak and scare have plummeted the U.S. economy. This holds especially true with real estate. The U.S. economy before the coronavirus pandemic was stronger than ever. Home values were increasing year after year. Many lenders created and implemented alternative mortgage programs. Specialty…
This guide covers buying house after bankruptcy and qualifying for a mortgage loan. Buying house after bankruptcy is possible after meeting a waiting period requirement after bankruptcy. Waiting period requirements depends on the individual mortgage loan program. The waiting period requirements are between two to four years on government and conventional loans. Non-QM loans do…
In this guide, we will cover buying a house near an airport. When searching for a new home, location is everything, including proximity to an airport. Living near an airport may provide easy access to travel and other amenities but poses significant drawbacks. Dale Elenteny of Non-QM Mortgage Lenders lived near an airport for many…
Many first-time home buyers with bad credit are under the following impression they need high credit scores and a 20% down payment to qualify for a mortgage. This is not true. FHA and USDA require 580 credit scores. The Veterans Administration has no minimum credit score requirement on VA loans. Fannie Mae and Freddie Mac…
This blog will cover qualifying and getting approved for a mortgage during Chapter 13 bankruptcy. Unsurprisingly, homebuyers and homeowners can qualify for a mortgage after bankruptcy. How about qualifying for a mortgage during Chapter 13 bankruptcy? Borrowers can qualify for an FHA or VA mortgage during Chapter 13 bankruptcy repayment plan without the Chapter 13…
In this article, we will cover and discuss the true cost of home ownership and compare the cost of a homeowner versus a renter. We will cover the frequently asked questions by first-time homebuyers with concerns about becoming a homeowner. We will discuss the finances and credit required to buy a house. We will also…
Many renters are under the belief that they need a 20% down payment and good credit to qualify for mortgage loans. This is not the case. The Team at Non-QM Mortgage Lenders specializes in helping home buyers qualify for bad credit home loans. We help homeowners with bad credit home loans in most of the…
This guide will cover the types of mortgage options for homebuyers. Taking out a loan can be daunting, especially if you need to learn about mortgages. Wendy Lahn, a dually licensed real estate agent, and loan officer, shared the following: For starters, you should know that not all loans are the same, with the main…
In this guide, we will cover how the mortgage process work. The mortgage process is similar whether borrowers apply for a home purchase or refinance a loan. There are a series of stages the file needs to go through. Most mortgage applications take 30 days to close from the time the loan originator prepares and…
Apply Now In this guide, we will cover things to avoid during home loan process to close on time. We have covered many blogs on what to do to get a mortgage loan approval. During home loan approval, borrowers must be pins and needles with their credit and finances. There are several things to avoid…
In this blog, we will cover FHA guidelines on streamline refinance mortgage loans. FHA streamline refinance is a fast-track loan program. Most streamline refinance loans can get closed in less than three weeks. Tens of thousands of homeowners still have an FHA loan with mortgage rates higher than 7.5%. Mortgage rates are dropping. FHA annual…
This guide on HARP for underwater mortgages is an older blog from when the Home Affordable Refinance Program was popular. HARP for underwater mortgages no longer exists. This guide on HARP for underwater mortgages was updated and edited for archival services for viewers who want to research HARP for underwater mortgages. In the following sections,…