12 Oct 2021
By Aadil Nathoo

The Timeline: Prequalifying To Closing

Mortgage, ,
Even though purchasing a new home can be exciting, it can also be stressful. There are a lot of tasks that need to be completed between qualifying for a mortgage and receiving the necessary funds. Therefore, potential homeowners need to understand the timeline so they make sure they are on track to meet their closing dates. What are a few examples of important milestones that have to be accomplished?  Make An Offer On A Home After getting pre-qualified for a mortgage, the next step is to make an offer on the right house. An offer on a home has a lot…
Read More
05 Oct 2021
By Aadil Nathoo

The Top Benefits Of Having Mortgage Debt

Mortgage, ,
The vast majority of people need to take out a loan to purchase a home. While there are many forms of debt that people would rather avoid, some types of debt can actually be a positive. This includes mortgage debt. What are a few of the top benefits of having mortgage debt? Access To Extra Liquidity One of the biggest benefits of having mortgage debt is that homeowners will have access to more liquid cash. If someone spends all of their money buying a house in cash, they might not have anything left over to cover other expenses. Examples include…
Read More
30 Sep 2021
By Aadil Nathoo

A Mortgage Pre-Approval Letter: How Long Does It Last?

Mortgage, ,
Buyers need to make sure they are competitive when they make an offer on a house. One of the ways to do that is to get a pre-approval letter. What does this mean, and how long does it last? What Is Mortgage Pre-Approval? Prior to working with a real estate agent to find the perfect house, it is important to get a pre-approval letter from a lender. Some agents might even ask a buyer to do this before they start looking. The lender will take a look at someone’s income and run their credit to see how large of a…
Read More
29 Sep 2021
By Aadil Nathoo

An Overview Of the Digital Mortgage Process

Mortgage, ,
Changes are being made to the mortgage application process every year. With access to online-only lenders and a decentralized financial system, more doors are open to potential home buyers than ever before. For example, there are many institutions that are making it easier to apply for mortgages by allowing applicants to do so online. That way, buyers do not have to fill out any paperwork, and lenders can stay away from any inequalities or discriminatory methods. What are the benefits of a digital mortgage?  They Are Easier To Access One major benefit of a digital mortgage is that they are…
Read More
28 Sep 2021
By Aadil Nathoo

Borrowers With Student Loans Might Have An Easier Time Qualifying For An FHA Loan

Mortgage, ,
In the past, a lot of potential borrowers were declined for FHA loans due to the presence of student loans. Now, the Biden Administration along with the FHA has eased a lot of their regulations surrounding student loans, making it easier for borrowers with student loans to qualify for a home loan. The FHA required that FHA mortgage companies calculated the monthly student loan payment as one percent of their outstanding loan balance if the loans were not fully amortized; however, this is now changing. The One Percent Rule Is Not Always Accurate Even though the one percent payment rule…
Read More