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Self-Employed.
We all know we need income for a mortgage. What Income is needed on a mortgage is always good to know. Most lender’s take one form of self employment or another. It all depends on which lender has a certain Appetite for your self employment. There are 3 different types of Self Employment income when…
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What A B Lending Mortgage Looks Like. On Closing.
B lending is cheaper than private lending. We won’t go into the details of what B lending is all about. For that, check out our post on what B lending is. In this post we will break down the costs of getting into a B Lending Mortgage. This type of scenario applies to certain borrower…
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(Mortgage) Letter Of Direction Deciphered
A letter of direction is a legal document that a client signs in order to acknowledge and direct the lawyer to take a fee for the Mortgage transaction. The signature has to be witnessed. This direction only applies if the client must pay a mortgage brokerage fee. This fee is a percentage of the loan,…
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What Everyone Ought To Know About Mortgage Fees
This topic could expand into an all encompassing look at the actual process and degree of tenacity and skill it takes a broker/agent to obtain approvals on certain mortgage loans but we’ll skim here in this post. We are basing this on Borrower Types, and mortgage types we see in the current mortgage industry in…
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What is B-Lending?
The B-Lending market is one of the more flexible lending tiers that mortgage brokers have access to. This tier of lending can be much different then what most borrowers imagine when they think of a traditional mortgage they would get at their Bank. B-lenders have higher interest rates, need at least 20% down for purchases…