If there’s anything ‘unique’ about your mortgage application, you may hear the term ‘manual underwriting.’ Lenders reserve this technique for borrowers that show potential but don’t pass the automated underwriting programs that breeze borrowers through the process. Get Matched with a Lender, Click Here. Manual underwriting is like a second chance at approval. If the […]
How to Prepare for a Mortgage Closing
You made it through the underwriting process and are heading to the closing – congratulations! While you’ve endured one hurdle, there are a few more you’ll face as you get to the closing table. Looking for Current Mortgage Interest Rates? Click Here. In this guide, we help you understand how to best prepare for the […]
Do Mortgage Lenders Check Credit Before Closing?
You know that lenders check your credit to qualify you for a mortgage, but when do they check it? Do you need to worry about your credit once you get the approval? Compare Offers from Several Mortgage Lenders. Get these answers and more below. Checking Your Credit When you Apply Lenders check your credit when […]
How Long Before you Can Close After a Conditional Approval?
You heard the words ‘you’re approved’ and you assume you’ll close soon. Not so fast, though. If you have a conditional approval, there’s still work to do. Your lender approved the qualifications you’ve provided proof of, but there’s more. Looking for Current Mortgage Interest Rates? Click Here. So how long before you can close? You […]
Does Getting the Closing Disclosure Mean you are Clear to Close?
You’ll go through many steps when you apply for a mortgage, but perhaps the most exciting step is when you receive the Closing Disclosure. Receiving this document means that you are that much closer to being able to close the loan. Looking for Current Mortgage Interest Rates? Click Here. What is the Closing Disclosure? The […]
Can you Use Any Lender for a VA Loan?
If you are a veteran that served enough time in the military and has an honorable discharge, you may have access to the VA loan benefit. This loan program provides 100% financing on most homes worth up to $484,350. Looking for Current Mortgage Interest Rates? Click Here. But can you just go to any lender […]
Do You Need an Appraisal With the VA IRRRL?
The VA IRRRL program is a unique refinance program available only to veterans with a current VA loan. The program allows you to refinance just your current outstanding balance plus any associated costs. In exchange for the strict loan amount requirements, you don’t have to verify your credit score, income, assets, or the value of […]
Understanding Manual Underwriting
If you don’t fall under the normal umbrella that lenders require, you may need what they call ‘manual underwriting.’ While it’s not a bad thing necessarily, it can take a little more time to get your loan through the process. Looking for Current Mortgage Interest Rates? Click Here. Automated Underwriting – What is It? If […]
The Top 4 Reasons to Refinance Your VA Loan
VA loans usually have good interest rates and low costs. If you have one, you might think you’ll never refinance because you don’t want to lose those good terms. Compare Offers from Several Mortgage Lenders. There are some times that refinancing your VA loan just makes sense, though. Keep reading to find out if any […]