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What Is A Mortgage Pre-Approval?
At Mortgage Suite, like all wicked mortgage companies, you can go from Pre-approval to Approval in a few hours. The approval is that feeling of relief, or simply getting your keys in the end; but what about the pre-approval part. A pre-approval does give that slight relief in the beginning of the purchasing process, but…
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Appetite For Lending. Lenders.
Appetite for lending can differ from lender to lender. Below is a simple explanation why certain rates can be higher, why certain lenders declines mortgage applications, and why sometimes clients need to go private. Overall appetite or your home’s overall marketability. Generally speaking it means that a lender is seeking out particular areas, markets, returns,…
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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 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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Mortgage Service: Reality Vs. Expectation
Why a Team doing mortgages provides the best Mortgage Service We have all been there. Your preferred “lender” isn’t getting back to you. A mortgage professional is ghosting your texts. Everyone gets busy right? Isn’t that the empathetic way to look at things? Not really!! Not when you are one week out from closing your…
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Refinancing Your Mortgage. A Guide.
Lets take the complexity out of the word EQUITY. Many times people need access to their equity. This is called a refinance. You are changing the title to the home. A refinance is a change in the amount owed. You are paying off your existing mortgage and obtaining a new higher amount. Firstly, with this…
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How To Go From Pre-Qualification To Approval In Just A Few Hours
Buying in the future? Mortgage Suite Simple Secure individual Access to create your very own Virtual Application. Make changes when you need. Upload required documents, and income documents, real time for review. If you want to learn what required documents are needed for income read about it Here. Approval! Remember pre-approvals work mainly on Triple…
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Getting a virtual mortgage approval “the new normal”
Recent events such as COVID, increased mortgage application rules and have changed the mortgage landscape forever. With the new digital home buying experience seen in the real estate market. From virtual tours of homes to virtually signing offers to purchase it’s a new and quicker market. It is now time for mortgages to go virtual.…
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Mortgages And Your Credit Score
Mortgage Credit Revealed It seems that mortgage credit qualification standards are getting harder to understand these days. In saying this, i would like to go through a chart with you below that will help you understand the overall credit criteria you need. Years prior a 600 credit score and a current job was all that…