Begin by focusing on your future mortgage needs ... So ... you've heard that securing a mortgage and financing a home can be challenging? The mortgage process can seem a bit daunting to some First-Time Home Buyers. But I'm here to tell you, it doesn't have to be that way. Your home buying dream can become a reality if you prepare yourself and devise a plan, and then stick to that plan. Here's how and where to start ...
It's always a wise first step to thoroughly educate and … (31 comments)
applying for mortgage: Dreaming of Owning a Home? Potential Move-Up Homebuyer? Don't Be Afraid!
- 04/28/14 05:45 AM
Dreaming of Owning a Home? Potential Move-Up Homebuyer? Don't Be Afraid! Two articles I read just this morning addressed the issue of potential home buyers' fears of rejection as they pertain to mortgage financing. Each article, also spoke about the many misconceptions the public has that contribute to their fears. The statistics quoted in these articles (per a national consumer survey by loanDepot LLC) were somewhat distressing for me as a Mortgage Lender. The most alarming were:
Nearly half (46%) of prospective homebuyers have not pursued the financing they would need in order to buy … (29 comments)
If you've read much about Mortgage financing ... or talked to a Mortgage Lender lately, you've probably heard the term "Automated Underwriting" ... This form of Underwriting, performed electronically by a computer, has become the method by which the majority of banks and lending institutions make a decision regarding the "lendability" of a potential Borrower. It's the analysis of all relevant financial data collected from an Applicant. First implemented in the late 1990's, Automated Underwriting has now become the preferred method of analyzing Mortgage Applications. The … (31 comments)
I'm questioned about the topic of mortgage processing all the time. But probably the question I hear most often, especially from those within the industry is, "Will the mortgage process get easier soon?"
It'd be easy to give a quick answer ... and say "yes" or "no". But truthfully, I believe the answer is really ... "maybe".
After reading yet another news article on this topic just this morning, ("When Will Mortgage Lending Standards Ease?" by Tim Manni, U.S. News & World Report), I thought … (8 comments)
Time COULD be Money ... Should You Delay Too Long. Be Prepared to Make Your Mortgage Application A short while ago, I wrote a blog regarding the upcoming increases that will be coming to mortgages as a result of recent government Enactments regarding Fannie Mae and Freddie Mac. I found a recently-written article in National Mortgage News. It presses home the same message as my blog. Time is of the essence for those buyers presently in the home buying process ... but even more so for those that are contemplating a home purchase … (11 comments)
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