What Are Compensating Factors?

So, you’re interested in getting a mortgage, but you know for a fact that you’re anything but an ideal candidate. You’ve resigned yourself to a life of renting and living under other people’s rules, because there’s no way you’re going to get your debt-to-income ratio into an ideal place and there’s not a house to… Continue Reading

What are the Pros and Cons of FHA Loans?

First time homebuyers, more than any class of homeowners, tend to be cash poor. That’s not a judgement statement — we all start somewhere. However, compared to other loans, FHA is much more forgiving of your liquidity-related woes. Because of FHA’s low down payments and small reserve requirements, along with options to roll your up-front… Continue Reading

Guide to Refinancing Your Mortgage

Interest rates are constantly in the news: they’re rising, they’re falling, they’re flat — whatever they’re doing, they keep the thought of refinancing in the forefront of the minds of many homeowners. These folks wonder if they should refinance now, or if they’d be better off to wait a little while longer. Choosing to refinance… Continue Reading

FICO Score 9 Recalculations and You

Once upon a time, there was a young couple who saved and saved for their first home. They struggled through years of horrible apartments and barely rolling cars in order to put together a fund to cover their five percent down payment and closing costs, plus a little extra for repairs (just in case). Unfortunately,… Continue Reading