How do I figure out how much house I can afford? There are plenty of mortgage calculators online that can help you crunch the numbers, but the pre-approval process will give you a good idea of how much house you can afford (and how much your monthly payments may be). The… Read Full Article Share FacebookTwitterLinkedIn
Is the mortgage loan process any different if I buy a short sale or foreclosed home? No – the borrower’s financing is no different when purchasing a short sale or foreclosure property. Read Full Article Share FacebookTwitterLinkedIn
What about buying a foreclosed home? Similar to a short sale, the advantage of buying a foreclosed home is the lower price, but remember that the home may be in poor condition, and the process can also be a lengthy one. Read Full Article Share FacebookTwitterLinkedIn
Are there any advantages to buying a short sale home? If you’re a buyer looking for a bargain, a short sale is an option worth considering since sellers typically want to get rid of the property and are more apt to make a deal. Just keep in mind that this… Read Full Article Share FacebookTwitterLinkedIn
What’s the difference between a short sale and a foreclosure? Sometimes a homeowner opts for a short sale, which is also known as a “pre-foreclosure sale.” This is when they need to move and owe more than the house is worth. Other times, a homeowner may try and sell their… Read Full Article Share FacebookTwitterLinkedIn
Can we use my partner’s income but my credit? No – if you are the borrower on the loan, your credit will be used to determine the applicable interest rate. You can’t mix and match, and this is true for all mortgage loans. Read Full Article Share FacebookTwitterLinkedIn