When you’re buying a home, it’s crucial to get pre-approved for a mortgage BEFORE making an offer. Pre-approval provides you with several advantages that can save you time, money, and stress. Let’s see why it is better to get pre-approved…
1099 loans are typically used for independent contractors or freelancers who get 1099s at the end of the year and cannot qualify based on traditional tax returns income. These loans are particularly suitable for freelancers, contract workers, 1099 employees, and…
Bank statement loans are typically used for individuals who have difficulty documenting their income using traditional methods. These loans are particularly suitable for self-employed individuals, freelancers, small business owners, contract workers, 1099 employees, and other borrowers with non-traditional income sources.…
So, you’ve been crushing it at your job through a staffing agency, getting steady paychecks, and now you’re ready to buy a home. But then—bam!—you find out that lenders might not be as thrilled about your employment history as you…
Understanding the difference between closing costs and down payment and how they vary between VA, FHA, and conventional loans can help you figure out how much money you need to save for your purchase. Let’s look at some information about…
When you rent a home, you typically pay a monthly rent to your landlord. You’re not responsible for property taxes, homeowners’ insurance, maintenance, and repairs. When you own a home, you’re responsible for everything. This initially makes renting a less…
So, you’ve got two jobs, three side hustles, and maybe a lemonade stand on the weekends—and you’re thinking, “This has to help me get a mortgage, right?” Well… maybe. Lenders love income, but they love stability even more. If you…
When applying for a mortgage, lenders typically evaluate a borrower’s ability to repay the loan based on their income and employment history. One common misconception among potential borrowers is that having two jobs will automatically increase their chances of qualifying…
An FHA loan is a type of mortgage that is insured by the Federal Housing Administration (FHA). This type of loan is popular among first-time homebuyers, buyers with lower credit scores, smaller down payments, or higher debt ratios. In addition…
If you’re in the process of repairing your credit, you may be tempted to apply for a mortgage. After all, owning a home is a significant financial milestone, and it’s natural to want to achieve it as soon as possible.…
