Mortgage

Am I Eligible for FHA Loan?

Buying a home is stressful, especially when you’re trying to buy a home when money is tight. When life hands you lemons, it can be hard to secure conventional home loans from banks, credit unions, or other lending institutions due to one factor or another. Thankfully, there is another option. The Federal Housing Administration (FHA) …

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Can You Buy a House With Bitcoin?

The housing and financial industries are an ever-changing world and the rise in cryptocurrency has started a purchasing trend like no other. Professional athletes, like NFL tight end Sean Culkin, have converted entire salaries into bitcoin. This demonstrates the growing popularity of cryptocurrency and the new money trend of the 21st century. With the rise …

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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 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

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 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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Basic Guide for Non-Qualified Mortgage Loan

If you have a less than perfect credit score or are self-employed with alternative income, you won’t qualify for a traditional home loan. However, you don’t have to rent forever. There is another option. It is called a non-QM loan or non-qualifying mortgage. This article will go over what a QM or a qualifying mortgage …

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