Understanding Mortgages | My Mortgage Insider

Getting a U.S. Mortgage as a Permanent or Non-permanent Resident Alien

February 13, 2020

Residents with green cards and work visas can qualify for a U.S. mortgage even if they are not U.S. citizens. In fact, these home buyers can qualify for government-backed and -sponsored […]

FHA Loans · Understanding Mortgages

Senior Citizens Can Be Successful at Getting Mortgages

February 11, 2020

A couple in their mid-70s just recently purchased a home and got a mortgage to move closer to their children and grandchildren. They decided on Home Equity Conversion Mortgages (HECM) […]

Understanding Mortgages

Is Your Self-Employed Income Enough to Buy a Home?

February 10, 2020

When applying for a mortgage, the lender will make sure the borrower can afford the new mortgage payment. This is determined by comparing the borrower’s proposed housing payment with their […]

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Home Buying · Understanding Mortgages

Cosigning a Mortgage for an Adult Child

February 10, 2020

Your adult child is hard working and responsible. But because of their lack of credit history, stricter lending regulations or too many student loans, it is almost impossible for them […]

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News · Understanding Mortgages

Stated Income Loans, plus Alternative Documentation Loans for 2020

January 28, 2020

Stated income loans are making a comeback — sort of. Extremely popular in the early 2000s, stated income loans were one of the factors of the housing market collapse. Why? […]

How rising mortgage rates affect buying power | MyMortgageInsider.com

Home Buying · Mortgage Rates · Understanding Mortgages

A 1% Rate Increase will Decrease Your Buying Power by 11%

January 24, 2020

How interest rates affect buying a home How do interest rates affect buying power when you’re searching for your next home? Will you have to settle for a less-nice house […]

Home Buying · Understanding Mortgages

What is a mortgage underwriter?

January 21, 2020

Although you’re not likely to see or hear from this person during the mortgage loan process, the underwriter decides whether to approve, suspend or deny your home-buying loan. That’s where […]

The Pros and Cons of Using a Mortgage Broker

Home Buying · Understanding Mortgages

Are Mortgage Brokers The Best Friend a Home Buyer Can Hire?

January 15, 2020

If you’re in the market for a new home but don’t have time to wade through scores of applications or shop around for the best mortgage rates and terms, a […]

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Understanding Mortgages

Job Change Prior to Closing: What to Do

January 2, 2020

The short answer is changing jobs can affect your loan approval. From your lender’s perspective, your employment history and income are paramount to your ability to make your payments. That […]

How to write a mortgage letter of explanation

Home Buying · Understanding Mortgages

How to Write a Consumer Letter of Explanation

December 16, 2019

When you’re asked to write a letter of explanation by a mortgage underwriter, look at this as a valuable opportunity to clearly communicate your situation. The letter of explanation may […]

Category: Understanding Mortgages

Getting a U.S. Mortgage as a Permanent or Non-permanent Resident Alien

Senior Citizens Can Be Successful at Getting Mortgages

More

Is Your Self-Employed Income Enough to Buy a Home?

Cosigning a Mortgage for an Adult Child

Stated Income Loans, plus Alternative Documentation Loans for 2020

A 1% Rate Increase will Decrease Your Buying Power by 11%

What is a mortgage underwriter?

Are Mortgage Brokers The Best Friend a Home Buyer Can Hire?

Job Change Prior to Closing: What to Do

How to Write a Consumer Letter of Explanation

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