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Navigating the differences between appraisal value vs. market value can be challenging, but it is key to ensuring successful real estate transactions. Nailing down these two terms separates an informed buyer/seller from a confused one. Without understanding the differences between appraisal value and market value, you could quickly become overwhelmed by the complexities of real

If you are a real estate investor looking to secure a home mortgage, providing employment information, tax returns, and other common loan documentation can be time-consuming. Designed for real estate investors, a DSCR loan focuses on cash flow generated by investment properties. Here we take a closer look at the DSCR loan, a DSCR ratio,

If you lost a previous home to foreclosure, you might assume that getting a mortgage is impossible. Your credit report took a hefty hit, and what lenders are going to want to take that risk? The good news, however, is that getting an FHA loan for a new home is possible even after foreclosure. Still,

FHA loans are designed to help those without a large down payment and less than optimal credit score achieve home ownership. While these loans do apply to traditional “stick-built” homes, borrowers looking for lower-cost alternatives often turn to manufactured or modular homes in order to meet the mortgage requirements and get the keys to a

Buying a home can be exciting and stressful all at the same time. The process requires meeting many different requirements and submitting all the essential paperwork in order to receive mortgage approval. So when a lender calls to say you are “clear to close,” chances are you will feel as though everything is complete. However,

When you are purchasing a home, especially if it is your first home, it is very easy to become swept up in the buying process. However, it is important that you understand the different aspects of the loan process and what they may mean for you as a homebuyer. One key component to understand is

When you apply for a home loan, the mortgage lender collects a wide variety of different paperwork to establish proof of income, employment history, credit scores, and much more. Once the paperwork is collected, your information goes into underwriting, where the mortgage company evaluates the information and determines whether or not you qualify for the

Depending on the type of home loan or refinance option you are looking at, your lender may require private mortgage insurance (PMI). But what exactly is private mortgage insurance, and how much additional cost will it add to your monthly mortgage payments? Are there things you can do to avoid paying PMI? Here we take

A home foreclosure can reduce your credit score and affect your ability to qualify for new loans, including a new mortgage. How does a foreclosure affect your credit score? How long does a foreclosure stay on your credit? Are there things you can do to avoid foreclosure? Key takeaways Foreclosure is when a borrower doesn’t

Your lender will undoubtedly require you to complete the forms and disclosures required to process the mortgage loan when applying for a mortgage. While many are pretty straightforward, the paperwork can be intimidating. In some cases, your lender may require an AKA letter, triggered when your credit report returns inconsistencies. But what is an AKA