Lenders seek one thing above all else in the people they lend money to: stability. A person with a stable job, stable income and stable home life is more likely to be approved for a mortgage than someone who changes jobs every year and sees his or her income fluctuate. Also, if you’re a single…
A mortgage in principle also called a “mortgage promise”, an “agreement in principle” or a “decision in principle” is a statement from a lender that essentially says they would, in principle, be willing to lend you X amount to purchase a home. The mortgage in principle is not binding upon the lender, but it may…
A more accurate term for the “new normal” would be “not normal” as nothing during the past year or so has gone according to plan. Millions have been furloughed, governments have printed money at a furious pace to cover the cost of lockdowns and the housing market, which should be mired in a deep recession,…
A house will likely be the single largest investment you ever make. The better positioned you are to handle the responsibilities – financial and otherwise – that come with homeownership, the easier and more rewarding the process will be. With that in mind here some tips before applying for a mortgage. DETERMINE HOW MUCH YOU…