Calculating Loan-to-Value (LTV)
Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the…
What’s The Difference Between A Primary Residence, Second Home and Investment Property?
When applying for a mortgage, a borrower's "Occupancy Type" is a major factor in the amount of down payment required, loan program available and mortgage interest rate. Whether you…
Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?
While the actual credit score has a big impact on a loan approval, it's not the only component of the credit scenario that underwriters consider for a mortgage approval. Since…
Seven Things Your Agent Should Know About Your Mortgage Approval
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase…