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Top 8 Things To Ask Your Lender During The Application Process

by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process

Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end...

Common Documents Required For A Mortgage Pre-Approval

by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process

Even though many lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true mortgage approval that holds any weight is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents....

Calculating Loan-to-Value (LTV)

by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process

Understanding the definition of Loan-to-Value (LTV), and how it impacts a mortgage approval, will help you determine what type of loan amount and program you may qualify for. Since the LTV Ratio is a major component of getting approved for a new mortgage, it’s a...

What’s My Debt-to-Income (DTI) Ratio?

by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process

Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit payments and...

What’s The Difference Between A Primary Residence, Second Home and Investment Property?

by Ed & Barbara Heiser | May 11, 2018 | Mortgage Approval Process

When applying for a mortgage, a borrower’s “Occupancy Type” is a major factor in the amount of down payment required, loan program available and mortgage interest rate. Whether you are purchasing, doing a rate/term refinance or taking equity out of...
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