Factors Mortgage Lenders Consider – SmartAsset

Things have tightened up in the housing market since the housing crisis and lenders are looking at mortgage applications more closely. Lenders consider many factors before deciding whether to approve applicants. Once you know what they’re looking for, you can boost your chances of getting approved. Check out five factors …

Mortgage Rates Step Back – Freddie Mac

Mortgage rates remained mostly flat over the past week, which has been the dominant theme since late spring. This stability in borrowing costs comes despite the highest core inflation rates since 2008 and turbulence in the currency markets. Unfortunately, this pause in rates is not leading to increasing home sales. …

What is private mortgage insurance? – CFCB

Question: What is private mortgage insurance? Answer: Private mortgage insurance, also called PMI, is a type of mortgage insurance you might be required to pay for if you have a conventional loan. Like other kinds of mortgage insurance, PMI protects the lender—not you—if you stop making payments on your loan. …

A Marijuana Mortgage: How to Help Yourself Get Approved

The cannabis industry is highly lucrative: business is booming for many involved. However, as marijuana remains illegal on the federal level, banks are hesitant to lend to those whose income is derived from pot. Fannie Mae, Freddie Mac, and FHA are backed by the government and brokers are often not …

Own a Marijuana Business? Get a Home Loan By Swapping Cash for Credit

Swapping Cash for Credit Marijuana is a billion-dollar industry; according to Fortune magazine, Colorado alone surpassed the one-billion-dollar mark last year. This is a huge increase from the numbers seen in 2014, the first year of recreational sales.  By 2020, numbers are projected to increase even more, perhaps bypassing two-billion …

Lender Overlays: What Are They and Why Are They Important? – LinkedIn

There are many factors to consider when choosing a lender for your home mortgage. One of the most important, yet often overlooked, concepts to familiarize yourself with is the “lender overlay,” which is an additional requirement (or set of requirements) on top of what Fannie Mae, Freddie Mac, or the FHA/VA will …