It can be a complicated process to buy a house in foreclosure. However, the foreclosure process is not impossible. Purchasing a foreclosed house might land you an excellent bargain, especially when good deals are scarce. Over the initial couple of years of the...

The duration of the mortgage underwriting process can vary widely depending on several factors. Here are the factors that influence the decision: The complexity of the application the lender's internal processes, and the current volume of applications they are...

Are you wondering what the projected interest rates are in 5 years? It is always a good idea to stay ahead of financial and market trends. This also means that you must keep an idea about the projected interest rates. Understanding what the future will look like...

Here is the list of items you need to qualify for a home loan: Income Requirements Calculations to prove you can afford the home. Lenders need to make sure that you can afford the house you are looking to buy. Income serves as proof of employment. In terms of...

The high balance loan limits for 2023 are as follows: Baseline conforming loan limit: $726,200 High-cost area loan limit: $1,089,300 In 2021, the baseline conforming loan limit was lower by $177,950, and in 2022, it was lower by $79,000. The conforming loan...

The Military Lending Act (MLA) is a federal law that protects military service members who are on active duty status from certain lending practices. Military service members who are on active duty military status are entitled to an interest rate cap on many loan...

A 20% down payment on a $300,000 house is a common preference for most mortgage lenders. Most mortgage lenders favor a $60,000 down payment for a $300,000 home because the risk when the homebuyer defaults on the monthly mortgage payments is lower. Homebuyers...

TransUnion credit scores vary from 300 to 850, with a greater number showing improved credit standing. A TransUnion credit score of 720 or higher is regarded as "good". However, lenders may have varying requirements and may view a score of 750 or higher as having good...

Finding the last appraisal of a house is crucial when buying, selling, or refinancing your family home. If you are a homebuyer, you want the appraisal report to be up to date to avoid thinking that the property is overvalued. As a seller, you may want the last...

When a house is under contract, it means that a buyer has made an offer on the property and the seller has accepted it. As per this, the buyer and seller have to sign a legally binding contract that outlines all the details regarding the terms of the sale and...