CEO Lender-Tips and Tricks

 The income you need for a mortgage will depend on a variety of factors, including the size of the mortgage you are applying for, the interest rate, your credit score, and your debt-to-income ratio (DTI). Generally speaking, lenders prefer that your total monthly debt payments, including your mortgage payment, be no more than 43% of your gross monthly income. To get a rough estimate of how much income you'll need for a mortgage, you can use a mortgage affordability calculator. These calculators take into account factors such as your income, debts, and expenses, as well as the size of the down payment and the interest rate, to estimate how much house you can afford. HERE is an awesome (and ad free) one!  Keep in mind that the income requirements for a mortgage can vary widely depending on the lender and the type of loan you are applying for. Some government-backed loan programs such as FHA and VA loans may have more flexible income requirements, while conventional loans may require

 Getting a mortgage with low income can be challenging, but it is possible. Here are some tips to help you increase your chances of getting approved: Improve your credit score: A higher credit score can help you qualify for a lower interest rate, which can make your mortgage more affordable. Paying bills on time, keeping credit card balances low, and disputing errors on your credit report can help improve your credit score. Explore government-backed loan programs: Government-backed loan programs such as FHA and USDA loans may have lower income and credit score requirements than conventional mortgages. These loans can also have lower down payment requirements and may be more flexible when it comes to income verification. Find a co-borrower: Having a co-borrower with a higher income and credit score can increase your chances of getting approved for a mortgage. However, it's important to note that both borrowers will be equally responsible for repaying the loan. Consider a lower-price

 Getting approved for a mortgage quickly depends on several factors, including your credit score, income, debt-to-income ratio, and the lender you choose. Here are some tips that can help you speed up the process: Check your credit report: Before you apply for a mortgage, check your credit report to ensure that it's accurate and up to date. If you find any errors or discrepancies, dispute them with the credit bureau. Get pre-approved: Getting pre-approved for a mortgage can help you speed up the process once you find a home you want to buy. Pre-approval involves submitting documentation such as your income, employment, and credit history to a lender, who will then give you a conditional approval for a specific loan amount. Provide all required documentation: Make sure you have all the documentation required by the lender, such as tax returns, bank statements, and pay stubs, ready to go. Having all the necessary paperwork in order can help avoid delays in the approval process. Be re

 The difficulty of getting a mortgage right now can vary depending on a number of factors, such as your credit score, income, debt-to-income ratio, and the specific loan product you are interested in. Overall, the mortgage lending environment has become more stringent in recent years due to the COVID-19 pandemic and economic uncertainty. Lenders are generally requiring higher credit scores, larger down payments, and more thorough documentation of income and assets. That being said, interest rates are currently still pretty average historically, which can make mortgages more affordable and easier to qualify for in some cases. Additionally, government-backed mortgages such as FHA and VA loans may be more accessible to borrowers with lower credit scores or less cash on hand. It's important to research and compare mortgage options from different lenders to find the best fit for your financial situation. Consider working with a reputable mortgage broker who can help guide you through th

The easiest type of mortgage to get approved for can vary depending on factors such as your credit score, income, debt-to-income ratio, and down payment amount. However, in general, government-backed mortgages tend to have more flexible requirements and may be easier to qualify for than conventional mortgages. The Federal Housing Administration (FHA) offers mortgages with lower credit score and down payment requirements. The Department of Veterans Affairs (VA) offers loans for eligible veterans and their families with no down payment or mortgage insurance requirements. The United States Department of Agriculture (USDA) offers mortgages for eligible borrowers in rural areas with no down payment requirement. It's important to keep in mind that while these mortgages may be easier to qualify for, they may come with higher interest rates and fees. It's important to shop around and compare mortgage options from different lenders to find the best fit for your financial situation. As a

So real estate wisdom tells us that spring and summer are the prime seasons for house hunting and moving. People are more likely to get out and shop when the weather is nice. It is a more pleasant time of year, and sellers know their yards look better when not covered in snow. Yet there are some very logical and compelling reasons for going shopping for a house and moving in the winter as well. As we know, moving and real estate often go hand in hand, and though we'd like to dictate when we move and when we buy a house, very often other circumstances can emerge and force us to sell, buy and move anytime of year. But having to buy a house in the winter is not the worst thing that can happen. In fact, here are some advantages that show how you could benefit from house hunting in the winter. Fewer Buyers to Compete With The most obvious plus of buying and moving in winter is exactly because real estate wisdom says to shop spring and summer