How Home Buyers Who Aren’t Citizens Can Get a Mortgage

home mortgage for non-citizens

Home buyers don’t have to be citizens or residents to get a mortgage in the U.S. In fact, the credit and financial requirements are essentially the same for any buyer. But there is a difference: Home buyers who don’t live in the U.S. or who aren’t citizens can find it challenging to produce the required documentation for a mortgage. Because most U.S. lenders work with standard forms and reports, they aren’t set up to easily help a borrower who can’t produce a FICO score or a U.S. tax return .…

Read More

How Much House Can I Afford

Home Loan Guide For First-Time Home Buyers Shopping for your dream home can oftentimes be a pressure-filled task. More so, if you have no idea how much home you can afford. If you are a first-time home buyer, there are a few things on a loan for home buyers that you should heed. These things will help ensure that you will not weigh down yourself with a mortgage or repayment and that you can get an acceptable return. Also, by knowing your price range in advance, you can avoid looking at homes you…

Read More

Mortgage Rejection: How To Reduce Your Chance of Refusal

mortgage rejection

Your home loan application was denied. These words sound unforgiving, however they don’t generally mean you can’t get a home loan. About 1 in 2 applications for a home loan gets rejected by lenders according to the Mortgage Bankers Association or about 30 percent of mortgage applications for new purchases. Regardless of the tight lending condition, borrowers shouldn’t generally take “no” for an answer. At times, they simply need to apply with a different lender or find a way to improve their credit. Once denied, find out exactly why the lender turned you down. By…

Read More

Mortgage Rates Mixed As Demand Falls

mortgage applications

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage applications fell last week, dropping 4.1 percent from the week before. The decline included a 4 percent decrease in the refinance index and a 5 percent drop in demand for applications for loans to buy homes. Still, purchase application demand is 28 percent higher than the same week last year and mortgage rates remain near historic lows. Michael Fratantoni, MBA’s chief economist, told CNBC that some of the volatility in the mortgage market is due to uncertainty about…

Read More