Mortgage Income Calculations

Mortgage income calculations are not hard they are just unique. They are as unique as the applicant’s line of work, and method of compensation. After reading various mortgage articles with questions and answers about the loan process and how income is calculated; it seems only appropriate to generate an article simple to understand. Having been a mortgage underwriter I am … Read more

How Much Can I Borrow?

  This seems to be a question for many people when contemplating buying a home. It is a fair question and one that needs an answer if you are considering buying a home. Let me give you some details that will be of help to you with the question; “how much can I borrow?” We … Read more

Mortgage Self-Employment Analysis

Self-employment income normally needs a two-year history of receipt to be regarded as stable and ongoing income. Less than two years is “sometimes” accepted.   In mortgage lending, an individual is considered self-employed if he/she owns more than 25% of a business. Self-Employed income analysis requires a history of being self-employed to be use as … Read more

Mortgage – What Really Happened To Housing Values

 I am not trying to rehash the past or give out details that annoy some people, however borrowers,     applicants and anyone seeking to know more about mortgage values, and home loans deserves to know how the mortgage industry “had to fail.” Regulations caused the downfall of mortgage lending. It caused a flux of … Read more

HARP -Home Affordable Refinance Program

Update 2016 Fannie Mae HARP- Home Affordable Refinance Program is still in effect until December 31, 2016. It is available for those mortgage applicants who need a hand with more lenient guidelines. The good news is that this refinance is for those who owe more on their home than the current value. There current goal … Read more