Author Archives: theloanman

  When you approach a lender to obtain a conventional mortgage loan, one of the first things he or she will do is order a credit report. This report will outline your financial history and provide what is known as … Continue reading →

  Unless you have an extremely high-paying job, putting together enough money for a down payment is no easy task. That’s especially true today, with inflation taking an ever-larger chunk out of our wallets. If you’re determined, you can do … Continue reading →

First, what does that even mean? What is a recast mortgage? Recasting a mortgage is the process of paying a lump sum of your principal in order to reduce your monthly payments. It is simply a process by which your … Continue reading →

  Think twice about changing employment if you’re buying a home The new job you’re contemplating might pay more and make it even easier to make mortgage payments on that new home you want. But think twice before you take … Continue reading →

  Home buyers who can make an all-cash offer have a bit of an advantage over buyers who need a mortgage loan. Sellers love them because there’s no uncertainty or worry over appraisals or a loan that might fail at … Continue reading →

Is it necessary to a mortgage loan pre-approval before choosing a home to buy? The legal answer to that question is no. There is no law or regulation that requires a prospective buyer to become pre-approved before viewing homes, choosing … Continue reading →

  You pay sales tax and income tax – and when you sell your home you may also pay capital gains tax. What is it? It is the tax on the difference between what you paid for your house and … Continue reading →

  One of the first steps toward becoming a homeowner is gathering the funds for a down payment. If you’re thinking of buying a home, you may have cut back on non-essential services and purchases, held yard sales, or even … Continue reading →

Before you apply for a home mortgage loan, it’s best to get your credit in the best shape possible. The higher your scores, the lower the interest rate you’ll be charged. And of course, if your scores are too low, … Continue reading →

Mortgage loan underwriting is a necessary and required step in getting a mortgage loan, but it doesn’t have to be an ordeal. And, while many believe it can take more than a week to complete, that isn’t necessary either. Underwriting … Continue reading →