ASSETS Reference Articles:
Colorado Million Mortgage Loan
Colorado residents with substantial liquid assets may be eligble for $2MM to $35+ Million Mortgage loan products to refinance or purchase luxury real estate.
http://www.brokeroutpost.com/reference/128785.htm (Updated: 06/24/2008)
Related Reference Topics: [super jumbo, mortgage, refinance, million, co]
What is a 1003 Mortgage Application?
A 1003 Mortgage Application is the standard application filled out by a mortgage professional on behalf of a borrower applying for a mortgage loan.
http://www.brokeroutpost.com/reference/90317.htm (Updated: 01/10/2008)
Related Reference Topics: [1003, income, assets, employment]
When looking for morgage rates on the internet, it is important to first determine what type of loan you are looking to obtain. Are you interested in an adjustable rate morgage, fixed rate morgage, o
http://www.brokeroutpost.com/reference/178434.htm (Updated: 10/29/2007)
Related Reference Topics: [morgage, programs, mortgage, ]
Divorce and your credit rating.
Going through a divorce can be a difficult time emotionaly as well as financially. There are many things to consider when going through a divorce to help protect your credit rating due to a split up o
http://www.brokeroutpost.com/reference/39106.htm (Updated: 10/22/2007)
Reserves and Assets
When applying for a mortgage, whether you fall into the conforming or sub-prime lending criteria, many lenders require that you at least state, and may even ask you to verify reserves and assets held
http://www.brokeroutpost.com/reference/63627.htm (Updated: 10/19/2007)
Million Mortgage Loan
$1 Million Mortgage Loan to $40 Million Mortgage Loan programs are referred to in the lending industry by the terms "super jumbo mortgage" or even "mega jumbo loan"
Jumbo mortgages are loans which
http://www.brokeroutpost.com/reference/128780.htm (Updated: 10/09/2007)
Related Reference Topics: [jumbo loan, super jumbo mortgage, million mortgage]
Stated Refinance Program
Stated documentation programs allow borrowers who have difficulty documenting their true income and or assets with the option to literally state their income or assets to qualify for their refinance.
http://www.brokeroutpost.com/reference/97307.htm (Updated: 09/04/2007)
Related Reference Topics: [stated income, refinance]
Best Rate Refi
To get the best rate refi, one must have a full documentation of income, full documentation of assets, impeccable credit, and a low loan to value. For everybody else, it is most important to get the
http://www.brokeroutpost.com/reference/153626.htm (Updated: 08/31/2007)
Related Reference Topics: [refi, best rate, ]
How much money can I borrow?
Your borrowing capacity, often referred to as the amount you borrow, will differ from lender to lender. To get an indication of how much you can borrow, you should arrange an appointment with your loc
http://www.brokeroutpost.com/reference/146781.htm (Updated: 08/03/2007)
Related Reference Topics: [borrow, how much, maximum mortgage, dti]
Full Documentation refers to the amount of Documentation you will present and be able to verify, to qualify you for a Home Loan. With Full Documentation, also known as "Full Doc" you will need to be
http://www.brokeroutpost.com/reference/133117.htm (Updated: 07/19/2007)
Related Reference Topics: [full doc, full documentation loan, documentation t]
Chapter 7 Bankruptcy
Unlike a Chapter 13 or 11, which allows for restructuring and settlement of debt, Chapter 7 Bankruptcy doesn’t necessarily involve a payment plan to settle with creditors. Instead, Chapter 7 liquidat
http://www.brokeroutpost.com/reference/119472.htm (Updated: 07/17/2007)
Related Reference Topics: [bankruptcy, insolvency, foreclosure, 7]
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this st
http://www.brokeroutpost.com/reference/23264.htm (Updated: 07/04/2007)
Who is N.I.N.A.
N.I.N.A. stands for No Income, No Assets, and is a great program for people who may not have cash reserves in the bank, and may have trouble fully documenting their income.
http://www.brokeroutpost.com/reference/52086.htm (Updated: 06/27/2007)
Related Reference Topics: [no income loans]
A SISA (stated income, stated assets) is a loan program were the borrower(s) state on the application what their income and assets are, but the lender does not ask for documentation for the amount sta
http://www.brokeroutpost.com/reference/14170.htm (Updated: 06/24/2007)
Stating your income and assets
Some mortgage programs allow you to "state" your income. For instance, if you are a small business owner, and your tax returns don't show all the income you receive, you can "state" your income to th
http://www.brokeroutpost.com/reference/67666.htm (Updated: 05/29/2007)
Related Reference Topics: [sisa, nina, siva]
In the mortgage business, the word "reserves" has more than one meaning. It can refer to the monies (assets) required by the lending bank - to be on hand in the borrowers deposit accounts at the time
http://www.brokeroutpost.com/reference/21147.htm (Updated: 05/29/2007)
Related Reference Topics: [reserves, property taxes, hazard insurance]
NINA, also referred to as No Income No Asset, loans are mortgage loans in which No income and No assets are listed on your resdiential home loan application, also called a 1003. There will generally b
http://www.brokeroutpost.com/reference/24127.htm (Updated: 05/28/2007)
Related Reference Topics: [income, nina, sisa, siva, documentation]
Down Payment from 401K or 403B Retirement Annuity
If you are purchasing a home and have a substantial portion of your assets inside of a retirement account such as a 401K, 403B or other retirement product or annuity, you may choose the increasingly p
http://www.brokeroutpost.com/reference/82041.htm (Updated: 05/27/2007)
Related Reference Topics: [down payment, 401(k), 403(b), retirement savings]
Reduced Documention Loans
There are many programs available that are for people who may not qualify for the standard full documentation required by many different lenders. Some of reduced documentation loans compensate for the
http://www.brokeroutpost.com/reference/23618.htm (Updated: 05/26/2007)
Related Reference Topics: [stated, no doc, no verification, no employment, ]
What do lenders look for in Mortgage Application?
What do lenders look for in a Mortgage Application? Lenders are looking to determine your ability to repay the loan obligation. They do this by looking at various risk factors such as your job history
http://www.brokeroutpost.com/reference/47538.htm (Updated: 05/23/2007)
Related Reference Topics: [work history, income, assets, credit history]
No Doc Loans
A No-Doc loan allows the borrower to apply for a loan and not have to state their income, employment, assets or even submit bank statements. This type of loan is often time appealing to Self-employed,
http://www.brokeroutpost.com/reference/14417.htm (Updated: 05/16/2007)
Documentation requirements for Mortgages
Full Documentation: Both income and assets are disclosed and verified, and the income is used in determining the applicants ability to repay the mortgage. Stated Income - Verified Assets: Income is di
http://www.brokeroutpost.com/reference/19328.htm (Updated: 05/16/2007)
No Income Verification Mortgage Loans
The "no Income Verification" mortgage feature is designed specifically for self-employed, non-salaried or commissioned borrowers as well as salaried borrowers. This feature eliminates the need to veri
http://www.brokeroutpost.com/reference/123626.htm (Updated: 05/12/2007)
Related Reference Topics: [no income mortgage, no doc mortgage, nica]
Created while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or
http://www.brokeroutpost.com/reference/13588.htm (Updated: 03/10/2007)
Documents needed for your Loan
The following is a list of typical items needed for your mortgage application. These items are are needed depending upon type what type of mortgage you're interested in and your ability to provide the
http://www.brokeroutpost.com/reference/43091.htm (Updated: 09/06/2006)
Related Reference Topics: [documents, application requirements]
No Doc Mortgage
A No Doc Mortgage requires no employment, income, or assets to be stated on your loan application.
http://www.brokeroutpost.com/reference/39940.htm (Updated: 06/16/2006)
Related Reference Topics: [no doc, nina]
Preparing for your First Home / Mortgage
There are some basic financial things you can do to get prepared for buying your first home. This will make it easier for you and your mortgage broker.
Start to collect and organize documentation:
http://www.brokeroutpost.com/reference/14277.htm (Updated: 03/06/2006)
Construction loans are very different than standard mortgage loans. There is much more than just approving the borrower's credit, assets and liabilities. The project itself must be approved as well.
http://www.brokeroutpost.com/reference/23674.htm (Updated: 03/02/2006)
A NINA Loan is a where the borrower does not disclose income or assets on the application.
http://www.brokeroutpost.com/reference/13911.htm (Updated: 02/19/2006)