Mortgage brokers are intermediaries between real estate purchasers and loan agencies. They help borrowers find a lender with the best terms and rates based on their monetary requirements. Experienced mortgage brokers can save a borrower time, effort, and money. They also have access to more lenders. Working with a skilled and knowledgeable mortgage broker can..
Category: EB Mortgage - page 3
Debt Service Coverage Ratio (DSCR) mortgages are intended to help real estate investors and property owners finance their properties with flexibility and control. Traditional mortgages focus mainly on the borrower’s credit score and income, while DSCR mortgages consider the property’s cash flow to determine the borrower’s repayment ability. Based on the property’s actual income and..
Though prequalified and preapproved sound like similar terms, they actually mean different things in the mortgage industry, depending on the creditor and the type of loan or credit. Many creditors use the terms interchangeably, but they are, in fact, different. Despite whether the buyer is trying to get prequalified or preapproved, a creditor must do..
Higher mortgage rates and fees are now increased for homebuyers with good credit ratings thanks to a novel governmental rule to subsidize other potential homebuyers with lower credit scores. As part of the Federal Housing Finance Agency’s push toward affordable housing, the fees will affect mortgages secured in private banks across the United States. Homebuyers..
Rental loans, or Debt Service Coverage Ratio (DSCR) loans, are tapered to rental investment properties. The DSCR metric evaluates the rental income, operating expenses, and mortgage expenses to formulate a dollar value. Commercial lenders (private lenders, banks, etc.) typically require a minimum DSCR to qualify for a Loan-to-Value (LTV). DSCR loans provide a personal guarantee..