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Keywords: DTI; Ratio The debt-to-income (DTI) ratio is a personal finance measure that compares an individual’s monthly debt payment to their monthly gross income. Your gross income is your pay before taxes and other deductions are taken out. The debt-to-inc...

Keywords: Interest rate, APR When you’re refinancing or taking out a mortgage, keep in mind that an advertised interest rate isn’t the same as your loan’s annual percentage rate (APR). What’s the difference? ● Interest rate refers to the annual cost...

Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. 5 Factors That Determine if You'll Be Approved for a Mortgage 1. Your credit score Your credit score is determined based on your past payment history and borrowing behavior. When you apply for a mortg...

Key words: Low-income Home Possible Mortgage,provided by Freddie Mac, is for those whose income is 80% of area median income (AMI) for the Property’s location. For the income requirement,you need to verify only a borrower's qualifying income. For example, if...

Key words: Business bank statement; self-employed Bank statement program is one of the most popular programs. It is designed for borrowers who are self-employed and would use only business bank statements to qualify. P&L ? Not required! Tax return? Not require...

The hazard insurance section of standard homeowners insurance policies does not cover flooding from external natural causes, like heavy rainstorms, or man-made ones, like a dam break. Only specifically named flood insurance, a separate insurance policy, can ...

Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. A mixed-use property as defined is a one-to-four (1-4) unit residential property with a home-based business. The following requirements must be met: 1. The business cannot interfere or conflict with the...

Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. FHA vs Conventional Loan Types: Which is Right for Me? An FHA loan allows for lower credit scores and can be easier to qualify for than a conventional loan.  However, Conventional loans may not requ...

Keywords: DSCR, Non-QM, Mortgage, Rent, Investment We all know DSCR, which is a very simple program and just need to put the occupancy into consideration. DSCR is preferred by a lot of agents, so let’s talk about DSCR for foreigners. Here are requirements fo...

Keywords: DSCR, Non-QM, Mortgage, Rent, Investment DSCR (Debt Service Coverage Ratio) is designed for experienced real estate investors and qualifies borrowers based on cash-flows solely from the subject property. How to calculate DSCR ? See Below: Advantages ...