Mortgage Qualification & Approval

Woman co-signing agreement

What To Know Before Co-Signing a Mortgage

When you co-sign a mortgage, it shows that you trust a friend or family member enough to put your own finances at risk to help them qualify for a mortgage. However, becoming the co-signer for a home loan isn’t a decision to be taken lightly. Not only can it have a significant impact on your...

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A woman feels confident while waiting for mortgage preapproval

10 Tips for After You’re Preapproved for a Mortgage

Getting preapproved for a mortgage is the first big step in the home buying process. It can help you get your purchase offer accepted because it signals to the seller that a lender is willing to loan you money to buy a house.  A preapproval is a lot of things, but here’s something it isn’t:...

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Two people and cat working in home office

Getting a Mortgage When You’re Self-Employed

Do you feel like self-employment is keeping you from getting a mortgage? It’s a common feeling, but you may have an easier path to homeownership than you think. When it comes to mortgages for self-employed borrowers, several key factors can help you qualify for an attractive loan. Mortgages for Self-Employed Home Buyers: What’s Different? To...

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Young couple and real estate agent looking at contract

Mortgage Preapproval vs. Prequalification: What’s Right for You?

Are you in the market for a mortgage to purchase a new home? If so, you may have heard the terms prequalification and preapproval. But what exactly are they, and are they the same thing? While both terms sound similar, there’s a big difference between the two – and understanding that distinction can give you...

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Understanding the Mortgage Preapproval Process

Getting a mortgage preapproval letter is one of the best ways to show prospective sellers that you’re serious about – and capable of – buying a home. However, many consumers are unfamiliar with the process of getting preapproved for a mortgage. Fortunately, learning how to get preapproved is not nearly as complicated as it seems. ...

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colorful charts representing debt to income ratio

What Is Debt-to-Income Ratio?

Thinking about buying a home and getting a mortgage to pay for it? Then you need a crash course in debt-to-income (DTI) ratio. Lenders use your DTI to determine if you’ll be able to afford your monthly mortgage payments. That’s why knowing this powerful percentage can help you get a mortgage. What Is Your Debt-to-Income...

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payment terminal reflecting how credit scores affect mortgage rates

Credit Score Effects on Mortgage Rates

A good credit score is like having a strong professional network – it opens a lot of doors for you. Behind those doors, you may find perks, like qualifying for a higher spending limit on a credit card, being approved for larger personal loans, and earning lower rates on mortgages and home equity loans. While...

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How To Get a Home Equity Loan With Bad Credit

If you need money for renovations, repairs, emergencies or debt consolidation, a home equity loan is a great way to borrow the money you need at a low interest rate. But, if you’re dealing with bad credit or other money issues – like a high debt-to-income (DTI) ratio or not having enough home equity –...

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4 Reasons Borrowers Lose Pre-Approval Status

Buyers are taken much more seriously when they are pre-approved. Learn how that pre-approval status can be lost so that you can prevent it from happening to you.

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