How to Make an Offer on a House

How to Make an Offer on a House

Making your first offer on the house can be intimidating and even a little bit scary. The process doesn’t have to be either of those things, though. Making an offer on a house can be boiled down to a few easy steps. Let’s examine them. The process of making an offer Before ever making an

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Understanding LP and DU Mortgages

Understanding LP and DU Mortgage

Every time a potential home buyer decides they are ready to purchase a new home, they must go through the process of qualifying for a loan. The qualification process can be complex and difficult to understand. To understand these complex terms, let’s discuss what automated approval is and why it’s so important. The “Automated Approval”

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Your Guide to USDA Loan Process

Your Guide to the USDA Loan Process

When you’re looking for a home loan, the options available can feel overwhelming and sometimes even confusing. Many people aren’t even aware of all of the different options available to them. The USDA is a government department that most people don’t associate with home loans, yet they are just as invested in rural development as

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Importance of Bank Statements for Mortgage Applications

Importance of Bank Statements for Mortgage Applications

When you apply for a home loan, you find yourself combing through a lot of financial documentation—tax returns, pay stubs, bank statements, and the like. But why all the scrutiny? The short answer is that mortgage lenders have strict standards for lending money because they aren’t out to lose money. They want to be sure

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A Quick Guide to a Bank Statement Mortgage

A Quick Guide to a Bank Statement Mortgage

A bank statement mortgage, also known by the names self-employed mortgage or alternative documentation loan, is a mortgage that enables an applicant to secure a loan from a lender without using traditional documentation such as W-2s or tax returns. Instead, the applicant submits 1-2 years’ worth of bank statements and a few other qualifying criteria

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Military BAH rates

Military BAH Pay Rates for 2021

BAH, or Basic Allowance for Housing, is an allotment of money offered by all military branches to active duty members to cover housing costs for those who do not reside in government housing or barracks. Administered by the Defense Travel Management Office, BAH pay rate will vary on several factors. Still, the amount is calculated

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Is A FICO Score The Same As A Credit Score?

Is there even a difference between your credit score and your FICO score? Actually, yes! Check out this article to learn more.  Your credit score tells lenders how likely you are to pay your bills on time. The better your credit score, the less risky you look as a borrower. But a “credit score” is

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How Your Credit Score Affects The Cost Of Your Mortgage

You probably know that a higher credit score helps you get a better interest rate. But there’s more to it than that.  Your credit score directly affects the interest rate on your mortgage. The difference between a “good” versus an “excellent” credit score can save you thousands of dollars on interest. Most people know that

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