Down Payment

Renting While Saving for a House:

…..The Catch 22 Here’s the Situation: You think you don’t have enough money saved to purchase a home, so you’re renting for a few more months… or even years. But here’s the Problem: The cost to rent is steadily increasing; however renter’s total income is not. In turn, a higher percentage of income goes towards …

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Automated Underwriting and The Home Mortgage Process

If you have relatively good credit, today’s automated underwriting systems provide a list of only the documentation that is necessary to satisfy the lender. The way it works is that once the lender has your application and has pulled your credit, the file is uploaded to one of three locations, Fannie Mae, Freddie Mac or …

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