All posts tagged: Mortgage Applications

The Impact of Rental Income on Mortgage Qualification

For real estate investors and homeowners looking to purchase additional properties, rental income can play a crucial role in mortgage qualification. Lenders often consider this income when assessing a borrower’s ability to repay a loan, but the way it is calculated and applied varies based on different loan programs and underwriting guidelines. Understanding how rental income factors into mortgage approval can help buyers maximize their borrowing potential and secure favorable financing terms.

Why You Need to Be Truthful on Your Mortgage Application

There are few things better than finding your dream home and being able to afford it, but simply because you’ve found the perfect place doesn’t mean you should stretch the truth. It might seem tempting to polish your mortgage application a little in the hopes of making a better impression, but here are a few reasons why you should stick to the truth when signing off on your home.

Understanding the Differences Between ‘Prequalified’ And ‘Preapproved’ For a Mortgage

Are you in the market for a new home? If you are going to rely on mortgage financing to cover some of the purchase cost, you will need to start the application process as soon as possible. However, what if you just need to know how much you will be able to borrow so you can start finding homes in your price range?

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