You might lie about your weight when it's time to renew your driver's license.You might lie to your doctor about how many doughnuts you eat each week.But when it's time to apply for a mortgage loan? That's when honesty really is the best policy.
Small business owners and the self-employed who have difficulty being approved for a traditional home mortgage because they can't provide pay stubs or tax returns to show their income are getting some relief.
Your home equity loan or home equity line of credit could dash your dreams of reducing your monthly mortgage payment through a refinance.Blame a complicated mortgage-lending quirk known as resubordination.
New mortgage rules[https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-new-mortgage-rule-resources-for-consumers/] meant to protect consumers from bad lending practices may have another impact - forcing home buyers to get their financial house in order.
What's the difference between getting prequalified and preapproved for a mortgage? If you're planning to buy a home, you may have been told you should do one or the other, but be aware that they are not the same thing.
Getting a mortgage and buying a home offers some significant challenges for two unmarried people that traditional couples don't face.Some of those have to do with getting the loan itself; others have to do with protecting yourself in case the loan or the relationship goes sour.