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how to improve credit score before a loan

5 Steps To Improve Credit Score Before A Home Loan

Importance Of A Credit Rating For A Home Loan Your credit score, in other words, all the stuff that is on your credit report has a direct impact on your home loan application. It is the first document and factor that a mortgage lender looks at to assess your eligibility. Different lenders have different underwriting […]

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How To Fill Out the Uniform Residential Loan Application

Most of the mortgage lenders and brokers use the uniform residential loan application to collect the required data from potential home purchasers. Many lenders use the standardize document. Some vendors may help you fill out this form while others may expect you to do it yourself. Whoever fills out the form for you you need […]

Why Mortgage Lenders Require Extensive Paperwork

The reasons that mortgage lenders need such extensive information about your finances to be satisfied about your ability to pay off the mortgage loan. You submit these documents to prove and substantiate your current financial status not only to the mortgage lender but also subsequently to other organizations that may buy your mortgage if the […]

List of Documents and Paperwork Required by a Mortgage Lender

In order for a mortgage can do to make accurate assessment of your current fund situation he is going to need the details. The approval of mortgage loan hinges on this aspect. The mortgage lenders generally ask you to sign a form authorizing and permitting them to make inquiries from your employers as well as […]

Should You Go For a 30 Year Or 15 Year Mortgage Term

Once you have decided on the kind of mortgage you want such as fixed rate, adjustable rate or a hybrid loan, the next decision that you are likely to face these the duration of the loan. Should you choose a 30 year mortgage with a lower payment or a 15 year mortgage that will allow […]

Affect Of Foreclosure on FICO Score

How A Foreclosure Can Affect Your FICO Credit Score A foreclosure is when a short sale occurs on the home of a person where the amount you want a mortgage loan is recovered by the lender by selling the borrower’s property. A foreclosure can also result in a short sale where the lender agrees to […]

When Mistakes On Credit Report Prevent Loan Qualification

What to do when you discover mistakes on your credit report are the reason why you cannot qualify for a mortgage In the credit reporting system, you are considered to be guilty before you can be proved innocent by the credit bureaus. In a nutshell, this means that if you have an error showing on […]

5 Common Problems With Home Loan Approval And How To Solve Them

Dealing with Common Problems In Mortgage Approval The ideal borrower has a good credit rating, can make a substantial downpayment, can prove good income, has few debts and liabilities and shows stability. Problems and ¬†obstacles come about when any of these conditions cannot be met by the borrower. However, these are common issues faced often […]

10 Steps To Make Enough Mortgage Downpayment When Strapped For Cash

Gone are the days when mortgage lenders approved loans for the full buying price. Even subprime lenders dealing with borrowers with poor credit rating were willing to take these risks. However, downpayment is almost always necessary now, although the amount may vary. 20% downpayment is considered to be the magic figure because it helps you […]

Credit Report Problem Stops Mortgage Approval – What To Do

What to do when Credit blemishes stand in the way of getting approved for a mortgage loan. Negative entries on your credit report can into the mortgage modification process. If you have had problems with creditors in the past and resulting nonpayments, late payments or delinquent accounts then you really cannot escape the consequences for […]