Mortgage Qualification & Approval

Sometimes everything happens at once. Let’s say you’re a passionate entrepreneur with a small business that’s finally ready to scale up with the right financing when you learn that your family is about to grow, and you need a bigger house. Applying for a mortgage and a business loan at the same time is a...

In a competitive real estate market, one of your top priorities should be to stand out to sellers. And a mortgage preapproval can be the thing that launches your bid to the top of the offer pile because it proves to home sellers that you’re a serious buyer.  A preapproval is a letter from a...

Buying a house with a mortgage is the most popular way Americans finance home purchases. Getting preapproval is an important step in the process. It’s proof a lender has reviewed your finances and that you should qualify for the loan. This makes your offer stronger to sellers.  But does getting preapproved hurt your credit score?...

Loan origination is a technical term for the process of generating, reviewing and ultimately approving or denying a loan. Mortgage origination refers to the same basic process — but specifically for home loans. The mortgage origination fee covers the costs of this undertaking. In this article, we’ll explain how this process works, how the fee...

For most of us, the first step on the path to homeownership is to apply for a mortgage. When you apply for a home mortgage loan, your lender must confirm that you can repay the loan. To determine your creditworthiness (think: how much lenders can rely on you to repay a loan), your lender will...

Let’s say you recently sold your home and want to buy a new home. Or maybe you’ve decided to refinance your mortgage with a new lender. In either case, your new lender is going to want to know more about your history with your previous mortgage lender.  To get that information, they may request a...

Applying for a mortgage loan isn’t as straightforward as getting a simple yes or no. There are multiple steps in the process. One of them is getting a conditional loan approval. In this guide, we’ll go over what it means, how it works and the next steps to closing on a house.  What Does Conditional...

You’ve chosen your lender, and you’ve got your eyes on the perfect house. 🏡👀 The next step is to put an offer in.  Including a mortgage commitment letter with your offer can help you stand out to a seller. The letter shows that you’re a serious buyer, and a lender has promised to finance your...

When a marriage ends in divorce, it’s hard for everyone involved. And once the split is complete, people will inevitably want to move on – and that may even include buying a new home.  Buying a new home will likely mean getting a mortgage. And lenders are going to want to get a complete picture...

If you’re an aspiring homeowner, it’s a good idea to know your debt-to-income (DTI) ratio (aka your debt ratio or income ratio) because it can play a big role in determining whether you’ll qualify for a mortgage. There’s a lot to learn about your DTI, but here’s a quick overview of the basics: You figure...

If your credit score is low, you might think you’ll never be able to own a home – but that’s not always true. While a good credit score can unlock the doors to homeownership, aspiring home buyers with less-than-good credit aren’t shut out of the real estate market either.  We can tell you what it...

Do you qualify for an FHA loan based on your credit score and credit history? And even if you do, is an FHA loan the right choice for you? If your credit score is under 620, you may not qualify for a conventional mortgage, but a Federal Housing Administration (FHA) loan could be the answer...