Buying a New Home and Renting Out Your Current One? Fannie Mae Just Made Qualifying Easier
If you’re buying a new primary residence and planning to rent out your current home rather than sell it, a recent Fannie Mae guideline update could make it easier to qualify for your next mortgage. Your current home becomes what lenders call a “departing residence.”...Why Buying a Condo is Getting More Complicated: What Buyers and Sellers Need to Know About New Lending Rules
If you are thinking about buying or selling a condominium, you may have noticed that condo financing has become more complicated over the past few years. A buyer can be financially well-qualified, have a strong credit score, and have enough money for a down payment,...What is a Debt Service Coverage Ratio (DSCR) Loan?
If you’ve been looking into financing an investment property, you’ve probably come across the term DSCR loan. But what exactly is it, and who is it designed for? A Debt Service Coverage Ratio (DSCR) loan is a type of mortgage designed specifically for real...What is a Bank Statement Loan?
If you’re self-employed, own a business, work as an independent contractor, or earn income that’s difficult to document through traditional pay stubs and W2s, you’ve probably wondered whether qualifying for a mortgage is even possible. The good news?...Loan Calculator
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