Getting A Mortgage After Bankruptcy
According to uscourts.gov, 452,990 Americans filed for bankruptcy in 2023, and there were 387,721 filings in 2022.1 The number one question homeowners and homebuyers have post-bankruptcy is: “Can I get a mortgage after bankruptcy?” The answer is yes! In some
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Government-Backed Mortgages
A government-backed mortgage is a home loan the federal government guarantees in case the homeowner defaults. These home loans are offered by mortgage lenders as the government does not lend directly to consumers. Government-backed mortgages are designed to help four
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Mortgage Underwriter
A mortgage underwriter is an employee of a mortgage company who reviews your loan application and decides if you meet the company’s lending requirements. If you do meet their requirements, the underwriter will issue an approval. If you do not
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Having A Mortgage In Retirement
Having a mortgage in retirement can be beneficial for many homeowners. Like most things, there isn’t a “one size fits all” solution to deciding if you should or should not have a mortgage when your retire. Below, we’ll cover the
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Down Payment Gift
Buying a home is the “American Dream.” With home prices seemingly going up yearly, the biggest hurdle to buying a home is a sufficient down payment. From the first quarter of 2013 to the first quarter of 2025, the average
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Direct Lender Vs. Mortgage Broker
Choosing the right mortgage company to work with is an important step in the mortgage process. Direct Lenders and Mortgage Brokers provide a valuable service, and both provide benefits to the consumer. Understanding what to look for and asking the
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Learn About Pre-Payment Penalties
When you buy a home or refinance a current mortgage, you’ll always want to ask your loan officer if your new mortgage has a pre-payment penalty. In fact, it should be one of the first questions you ask when shopping
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30-Year Vs. 15-Year Fixed
The 30-year fixed vs. 15-year fixed mortgage debate has been going on for decades! Every homeowner wants a low mortgage payment, and every homeowner wants to pay off their mortgage as fast as they can; however, combining the two to
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Debt-To-Income Ratio
The debt-to-income ratio is a calculation performed by the person underwriting your home loan application. It compares the total amount of your monthly debt payments divided by the total amount of your monthly income. The comparison enables the underwriter to
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Top Five Benefits Of An FHA Mortgage
Whether buying a home or refinancing a current home loan, an FHA mortgage is one option you should consider. Why? There are significant benefits associated with an FHA mortgage, especially if your loan amount meets the FHA loan limit guidelines.
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