What You Need to Know About Getting a New Home Loan After Divorce
Getting approval for a new home loan after a divorce can be challenging, but far from impossible. Obtaining a new mortgage after divorce is tricky mostly because of the joint financial history, this includes past mortgages, car loans, credit card debt, and maybe even student loans. Things can get further complicated if previous loans have yet to be refinanced with your name removed. Divorce situations are difficult enough, and our goal is to make things as smooth and transpar
Is Refinancing Right for You?
Thinking about refinancing your mortgage? Learn the facts before you decide if that's the right choice for you! Although refinancing offers the financial relief, rate stability, and access to money that you may not be able to get by other means, there are occasions that we caution our clients against it. We respect your unique financial circumstances, and we tailor our mortgage services to your needs. Read on to find out if refinancing should be in your future and for a more
All About Assumable Mortgages
An assumable mortgage is a home loan that allows you to take over a seller’s home loan instead of applying for your own mortgage. However, not all mortgages are assumable — typically only some FHA and VA loans are assumable. An assumable mortgage is best done with lender approval and usually has little to no change in terms. This goes for the interest rate too! Reasons to Consider Taking Over a Home Loan There are benefits for both you and the seller when deciding to go the r
Self-Employed? Here's How to Get a Home Loan
A critical factor for qualifying for a home loan is your income. Understandably, lenders need to know that you have a stable income that allows you to sustain a mortgage. While traditional homebuyers can prove this easily with a standard W2 from their employer, a self-employed borrower will need to show proof of income in a different manner. Income requirements for self-employed homebuyers. The most common issue for self-employed individuals borrowers establishing how much th
