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The questions a mortgage lender is likely to ask

Millions of mortgage applications are completed and sent to lenders each year. Part of the steps required include the lender gathering information about you—and sometimes those questions can seem invasive. Most of the questions are required as part of your approval. Let’s take a look at the things a mortgage lender will ask. Credit Lenders …

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Need to use your 401(k) for a down payment? Here’s how.

Setting aside funds for a down payment for a home loan isn’t easy. Buyers obtaining a traditional loan need at least 20 percent as a down payment; otherwise, private mortgage insurance (PMI) will be required. That can add a significant amount to pay on top your mortgage payment. Today, the median home listing price in …

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Honesty on Your Mortgage Application: Your Future Depends On It

While it may seem harmless to alter your information on your mortgage application, you don’t want to over inflate your income or fail to reveal where the down payment funds originated. Everyone wants to get the best loan they can afford at the best rates. But if you lie on that mortgage application you risk …

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What does the government shutdown mean for my mortgage?

When the government shuts down, who gets hit hardest among people needing a home mortgage? The latest version of federal breakdown made one fact painfully clear: It all depends on the type of loan you’re shopping for, or already had in progress. For many borrowers a VA (Department of Veterans Affairs) mortgage or FHA (Federal …

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Buying a Home? You’ll Need Insurance.

It’s overwhelming to think about the numerous types of insurance available during the home buying process. You already have so much to do between packing, scheduling movers, and closing on your home. Do you really have to jump through more hoops? Unfortunately, yes. No sensible car owner would drive without insurance, so it figures that …

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Now is the time to get your garden ready for spring. Here are some general tips to get your space ready for growth! Take Stock This is probably the most important step and you should not skip it. Most of us are eager to get out and actually do something in the garden after a …

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