Mortgage Applications

Interest rates may be relatively low, but if you're a homeowner who is struggling with your monthly mortgage payment, it may be time to consider what re-financing options are available on the market. If you are looking for a lower interest rate to improve your financial health, here's what you need to know about the HARP program so you can take advantage of a better rate. What Is HARP? The Home Affordable Refinance Program, which is commonly known as HARP, was created in the wake of the 2008 recession, which was brought on by the high amount of housing debt…

There's a lot of flexibility and personal freedom associated with self-employment that can be a great benefit to your lifestyle and your pocketbook. However, because of the somewhat unpredictable nature of self-employment, it can make acquiring a mortgage a little more difficult. If you've recently become self-employed or have been in the game for a while, here are some things you may want to consider before submitting your mortgage application. Putting More Money Down 20% is often considered the magic number when it comes to the down payment because this will allow you to avoid homeowner's insurance. However, if you're…

If you're currently buying a home and are stressing about the kind of home to choose and which lender to go with, it can help to clear up some of the confusion surrounding the mortgage process. While mortgage applications are assessed on a case-by-case basis, here are some factors you'll want to avoid so the timeline of your approval isn't negatively impacted. Your Employment Status It goes without saying that the amount you bring in each month is a huge factor towards how much house you can afford, so having a part-time job, being self employed or even being unemployed…