Do I Need Perfect Credit to Get Approved for a Mortgage Loan?
It's recommended that you have a credit score of 620 or more when applying for a conventional loan. If your score is...
What Credit Score Do I Need to Get a Mortgage Loan?
It's no secret that your credit score is a major factor to consider when looking for a home. Along with other financial...
How to Get a Mortgage Loan: A Comprehensive Guide
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people achieve financial freedom...
Getting a Mortgage Loan in the Current Market: What You Need to Know
It's no secret that mortgage rates are skyrocketing and credit availability is at its lowest in more than nine years. The ...
Can You Get a Mortgage Without an Appraisal?
An appraisal is not always necessary when it comes to getting a mortgage. In some cases, lenders may be willing to forgo...
The 4 Steps to a Successful Mortgage Application
Getting a mortgage loan approved can be a daunting task, but it doesn't have to be. At Simply Home Lending, we have...
Do I Need to Have Proof of Income to Get Approved for a Mortgage Loan?
To get approved for a traditional mortgage, you need to provide proof of income. This usually involves presenting your...
What Are the Restrictions on Applying for a Second Mortgage Loan?
In most cases, you can get a maximum of two mortgages for your home at the same time. Depending on the lender you work...
What is an Escrow Account and How Does it Relate to My Mortgage Loan?
An escrow account is a type of legal holding account that is funded each month as part of your total monthly payment....
How to Apply for a Mortgage Loan: A Step-by-Step Guide
After selecting a lender, the next step is to complete a complete mortgage loan application. Shorter loan terms cost less ...
Does Loan Approval Come Before Appraisal?
The time that elapses from valuation to closing may vary, and mortgage terms may differ depending on individual...
Are Jumbo Loan Rates Higher Than Conventional?
When it comes to jumbo loan rates, the answer is not always straightforward. It depends on market demand for giant,...
How Much Money Do You Need to Put Down on a Mortgage Loan?
Home sellers often prefer buyers who have at least a 20% down payment. This is because a larger down payment indicates...
Do Lenders Offer Special Programs or Incentives for First-Time Homebuyers?
State housing authorities create programs for homebuyers that combine assistance programs for closing costs and the down...
How Long Does It Take to Get Approved for a Mortgage Loan?
From application to approval to closing, obtaining a mortgage can take 30 to 60 days. However, some home purchases may...
7 Requirements for Getting a Mortgage Loan
Getting a mortgage loan can be a daunting process, but it doesn't have to be. Knowing the requirements and having the...
Tax Benefits of Getting Approved for a Mortgage Loan
When you're considering taking out a mortgage loan, it's important to understand the potential tax benefits associated...
Do I Need Homeowners Insurance Before Getting Approved for a Mortgage Loan?
When you're looking to purchase a home, one of the most important things to consider is whether you need homeowners...
How Long Does It Take to Get a Mortgage Loan Approved?
From application to approval to closing, obtaining a mortgage can take anywhere from 30 to 60 days. However, some home...
The Comprehensive Guide to Mortgage Loan Processing
Buying a home is a major milestone in life, and the process of obtaining a mortgage loan can be daunting. But with the...
What is the Difference Between Jumbo and Conventional Mortgage Loans?
A jumbo loan is a type of non-compliant loan that allows the borrower to apply for a mortgage for an amount that exceeds...
Do I Need an Appraisal Before Getting Approved for a Mortgage Loan?
When you apply for a mortgage loan, the lender usually requires an appraisal of the property, whether you are buying a...
Can You Get a Mortgage Without Showing Income?
Yes, it is possible to get a mortgage without showing income. A mortgage loan with no income verification allows you to...
What Does It Mean for a Mortgage to Be Backed by the Government?
When it comes to mortgages, there is a clear distinction between conventional loans and government-backed loans....
What is a Conventional Mortgage Loan and How Does it Differ from Government-Backed Loans?
A conventional loan is any mortgage loan that is not insured or guaranteed by the government. This type of loan is...
The 8 Steps to Get a Mortgage Loan and Become a Homeowner
Are you ready to become a homeowner? If so, you need to understand the basic steps of the mortgage approval process....
Is it Better to Accept a Conventional Loan or FHA Loan?
A conventional loan is usually the best option for those with good or excellent credit, as the mortgage rate and PMI...
Everything You Need to Know About Interest-Only Mortgage Loans
Are you considering an interest-only mortgage loan? This type of loan can be a great option for some homebuyers, but it's ...
The Comprehensive Guide to Mortgage Loan Approval
Getting a mortgage loan can be a daunting process, but it doesn't have to be. With the right information and preparation, ...
Getting Approved for a Mortgage Loan: What Assets to Include
When it comes to getting approved for a mortgage loan, there are certain physical assets that can be sold to obtain the...
Why Do Mortgage Loans Get Denied and How to Avoid It
When applying for a mortgage loan, it's important to understand how underwriting works and the main reasons why loans are ...
Do I Need Reserves in the Bank to Get Approved for a Mortgage Loan?
Most borrowers don't need to have mortgage reserves or cash on hand, unless they're buying a certain type of property or...
The Pros and Cons of Conventional and Government-Backed Mortgage Loans
When it comes to buying a home, there are many different types of mortgage loans available. The two main types are...
Can I Get a Second Mortgage Loan If I Already Have One?
When your lender refinances a mortgage, you know that there is already a lien on the property, which they can take as...
Can Self-Employed People Get a Mortgage Loan?
You can still get a mortgage for your home, even if you've been self-employed for less than two years. Ultimately, your...
Fixed-Rate vs Adjustable-Rate Mortgage Loans: What's the Difference?
When it comes to financing a home, two of the most popular loan options are fixed-rate and adjustable-rate mortgages....
The Pros and Cons of Adjustable Rate Mortgages
When it comes to financing a home, there are a variety of mortgage options available. One of the most popular is the...
The Pros and Cons of 15 and 30 Year Mortgages
When it comes to getting a mortgage loan, there are a few things to consider. The most important factor is the amount of...
5 Steps to a Smooth Mortgage Process
Buying a home is an exciting experience, but the mortgage process can be overwhelming. To make the process smoother, it's ...
Types of Mortgage Loans: What You Need to Know
Understanding the array of mortgage loans available is crucial when embarking on the journey to homeownership....