The number one reason that real estate deals fall out of escrow is because of the loan. Most loan officers, banks and mortgage bankers have a limited set of products that fit into a small stringent box. If your a real estate agent that can’t get your buyer qualified from the get-go or if you have…
self employed loans
Bypassing The Big Banks for a Home Loan
When it comes to securing a home loan, every “big bank” has a set of criteria they use to discern whether or not to award a loan: A DTI (debt-to-income ratio) of 43% or less A 20% down payment A 720+ credit score 6, 9,12 or 18 months of assets/reserves 4 to 7 years removed…
What Freelancers Need to Know About Getting a Mortgage
Getting a mortgage and looking for a new home is always a difficult process, especially when you’re self-employed or tend to work on a contract-to-contract basis. Luckily, your search for a mortgage doesn’t have to become a separate ordeal as long as you utilize this checklist to get your ducks in a row before speaking…