mortgage information

Waiting Periods After Short Sale, Foreclosure, Bankruptcy

I wrote recently about Fannie Mae’s announcement regarding the extension of the waiting period for those Buyers hoping to become Homeowners once again after having experienced a Short Sales (Pre-Foreclosures). The waiting period is now extended out to 4 years … regardless of Loan-to-Value considerations (or Down Payment percentages). Naturally, there’s been a wide range […]

Waiting Periods After Short Sale, Foreclosure, Bankruptcy Read More »

The ABCs of DTIs – Debt-to-Income Ratios

Definition of Debt-to-Income Ratio:   The figure that represents how much of your income is spent repaying your recurring monthly debts.  The HIGHER your Debt-to-Income Ratio is, the more of your monthly income is being devoted to paying back your debts.  Formula Used to Find Your Debt-to-Income Ratio:  Monthly debts owed divided by monthly income.  This

The ABCs of DTIs – Debt-to-Income Ratios Read More »

When Inaccuracies Show on your Credit Report

When Inaccuracies Show on your Credit Report … What Then? Credit Scores and Credit Reports are very important … That’s true whether someone is hoping to buy a home (or refinance) or not.  But should you be someone in the hunt for Mortgage financing to purchase or refinance a home, the stakes get higher.  Your Credit Scores and Credit Reports become

When Inaccuracies Show on your Credit Report Read More »

Should you take out a Jumbo Loan or is there an Alternative?

To Jumbo or not to Jumbo, that is the question. Many of my Chicagoland referral partners have been reporting that their higher-end housing markets are seeing healthier sales this Spring.  Finally!  Our local housing markets are healing!  All very good news. Paired along with that is even more good news.  Lending options are once again appearing for high-end real estate

Should you take out a Jumbo Loan or is there an Alternative? Read More »

Good News. The New Non-Traditional Credit References May Help

When talking with potential clients seeking mortgage financing, one of the very first things I do is provide the address to my website.  I’ve loaded my mortgage website with helpful info and tools to benefit all those that visit there. One of the bits of info that I use and stress the importance of, is my “Mortgage Checklist”.  This list includes the info and documentation that

Good News. The New Non-Traditional Credit References May Help Read More »

Know Your Terminology Regarding Mortgage Lenders, It’s Very Important

I’ve offered multiple posts about the importance of being familiar with  frequently-used mortgage terminology prior to entering your mortgage processing.     With all the real estate and financing terminology or slang that can pop-up during a real estate transaction, it’s just best to be prepared and educated about what you’ll be hearing.  It’s for your own benefit.     

Know Your Terminology Regarding Mortgage Lenders, It’s Very Important Read More »

Scroll to Top