If a subprime mortgage was your only option when you bought your home, don’t worry. There’s a chance to refinance it and get a conventional or government-backed loan. You’ll have to put a few things in motion in order to make this happen though. Compare Offers from Several Mortgage Lenders. First, determine why you needed […]
How to Qualify for a Mortgage With Just Bank Statements
Sometimes you can’t prove your income the standard way. In other words, you don’t have paystubs or W-2s to provide. You likely have tax returns, but if they don’t reflect your true income, it could be hard to qualify for a loan. Luckily, you are not out of luck. There’s one more way to qualify […]
How to Get Underwriters to Approve Your Bank Statements
You would think bank statements would be a pretty straightforward condition to satisfy on your mortgage. It’s not. It could actually be one of the most complicated. Knowing what underwriters look for and what sends out a red flag can help you get approved. We’ll take a close look at what goes on in underwriting […]
Subprime Lending is Back but the Mortgage Industry Isn’t Heading South
There’s plenty to cheer about in the world of mortgage. Ultralow rates are encouraging renters to make the transition into home ownership. Meanwhile, those who own a home are looking into available refinance options. Lenders have become more accommodating as well. Many have since loosened their guidelines to accommodate borrowers with bad credit on their […]