Mortgage News & Tips
Seasoning Policy for Bankruptcies, Foreclosures, and Short Sales
Can I get a mortgage without a credit score?
Yes, it’s possible to get a mortgage without a credit score, though it may require a bit more documentation and a different approach. Here are some of the options: Manual Underwriting: Lenders may offer manual underwriting, where they assess your financial history and ability to repay by reviewing alternative documents, such as proof of on-time…
Read MoreWhy You Should Choose North Star Mortgage Network Inc.
When it comes to securing a mortgage, finding the right partner who understands your needs and offers tailored solutions is crucial. North Star Mortgage Network Inc. stands out in the industry for several compelling reasons. Let’s explore why you should consider them for your mortgage needs. Expertise and Experience North Star Mortgage Network Inc. boasts…
Read MoreFed Rate Cut: Will Prices Ever Go Back To ‘Normal’?
Inflation may have (nearly) returned to normal. But prices don’t feel normal. The Federal Reserve cut the federal funds rate by 50 basis points in September as inflation has moved closer to its 2% target. This was the first rate cut since the onset of the pandemic and might be a turning point in the Fed’s years-long battle to…
Read MoreFreddie Mac recently made a change to their rules as it pertains to minimum self-employment.
I am not referring to the rule where you only need one year tax returns if you have been in business for five years. That still exists for both Fannie and Freddie. I am referring to the rule where you only need to be Self-Employed for one year and still get conventional financing. HERE ARE…
Read MoreUS housing starts surge to five-month high
Pace of home construction sees big jump US housing starts rebounded in August, accelerating at their fastest clip since April and helping offset some of the slowdown seen the prior month. Government figures released Wednesday showed that the annualized rate of housing starts reached 1.36 million last month, a 9.6% increase over July and slightly…
Read MoreMortgage Market News Inflation, Fed Rate Cuts and Home Prices
The latest inflation readings keep the Fed on track to cut rates at their meeting this week, while an important survey sheds light on expectations for home prices. Here are the headlines: · More Progress on Consumer Inflation · Annual Wholesale Inflation Falls Below Key Level · Housing Remains Great Opportunity for Wealth Creation · Continuing Jobless Claims Top…
Read MoreReverse Mortgage Jacksonville: Straight Answers, No Hype
Reverse mortgage Jacksonville guide: you keep the title, heirs keep leftover equity, and the cases where it is the wrong answer.
Read MoreNo Ratio DSCR Loan
A DSCR loan refers to a loan where the lender evaluates the borrower’s ability to repay based on the Debt Service Coverage Ratio (DSCR). The DSCR is a financial metric used to assess a borrower’s capacity to cover debt obligations from their operating income. Here’s a breakdown of what it means and how it works:…
Read MoreHow much will a $600,000 mortgage cost monthly after rates are cut?
The housing market landscape has been challenging for buyers to navigate over the past few years. After all, a perfect storm of high mortgage rates, limited home inventory and elevated home prices has created significant barriers to entry for those looking to purchase a home. With homebuying costs elevated, many potential buyers have been temporarily priced out of the market,…
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