Elements of Qualifying for a Loan

and Loan Pricing

There are six major elements that we analyze in underwriting of the loan to determine the borrower’s borrowing capacity and deriving the pricing of the loan.  Below we will briefly discuss each of them and shed a light...

STUDENT LOAN CASH OUT REFINANCE PROGRAM

This week Fannie Mae announced a new Student Loan Cash-out Program and made it easier for those who want to pay off their student loans through cash-out refinance.  The refinance is not treated as cash out if the cash out funds ar...

Any number of issues can kill a deal between buyer and seller. Besides the property condition and failed negotiations between the agents, financing plays a big role. Until the borrower gets the “Clear to Close” letter from underwriting you really don’t know if they hav...

Just in the last few days, since the election results, the mortgage rates have climbed up more than half percent. Here are the main three reasons for this:

FED: The anticipation of Fed’s December meeting is that they will raise the Federal Funds Rate (the rate banks p...

With so many issues at stake, domestic and global, this has been the most unstable and hollow elections we have ever seen for a long time. Housing is in every American’s mind now days and nothing is more important to the health of the housing market than the mortgage i...

Bankruptcy & Foreclosure usually affects the buyer's ability to buy a home for seven years. According to Experian's latest analysis, 2.5 million consumers hit by the financial crisis in 2007 to 2010 will be ready to re-enter the housing market beginning of next year. I...

1. Get a credit card if you don't have one
Average amount of credit lines one should have should be between five to eight accounts. Don't fall for the myth that you have to carry a balance to have good scores. You don't, and you shouldn't. But having and using credit c...