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For many business owners and self-employed professionals, the journey to homeownership can feel convoluted due to their unique financial profiles. Traditional mortgages often cater to those with regular W-2 income, leaving a significant portion of the population grappling with alternative…
When you apply for a mortgage, the lender will need to review various documents to evaluate your creditworthiness and determine if you can afford the loan you're requesting. These documents give the lender a snapshot of your financial health and…
If you are moving due to a new job, relocating cities, needing a larger or smaller home, or any other reason, it can be tricky to time things just right. Should you keep your current home while you move or…
When navigating the world of mortgages, you'll likely encounter a variety of terms and concepts that may seem confusing at first glance. One such term is “points” or "discount points." While they might sound like something out of a math…
A mortgage broker is a professional who acts as an intermediary between borrowers and lenders to help secure the best mortgage terms for their clients. While mortgage insurance is typically associated with loans where borrowers put down less than 20%,…
What is DTI? DTI stands for Debt-to-Income Ratio, a crucial financial metric used by lenders and individuals to assess one's ability to manage debt responsibly. It represents the percentage of a person's gross monthly income that goes toward paying debts.…
Welcome to our comprehensive guide on calculating how much mortgage you can afford. Buying a home is a significant financial decision, and it's crucial to determine a comfortable and sustainable mortgage amount. By following the steps outlined below, you can…
If you’re getting ready to start your housing search, there are a few documents that can be helpful to have on hand. These can make the offer process much faster and smoother, especially if you plan to take out a…
In the market to purchase a home? You may be wondering how much you need to save for a down payment. Typically, 20% of the purchase price is needed for a down payment. But there are some mortgage options with…
For those in the market for a new home or looking to sell their current home, there are a lot of real estate terms to learn. Whether you’ve gone through the process before or are doing it for the first…
