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High debt to income ratio mortgage loans
Many people have high debt to income ratios and can still qualify for a mortgage loan. There are many options available out there for people who have a high debt to income ratio, also referred to as D

http://www.brokeroutpost.com/reference/52950.htm (Updated: 07/15/2008)
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USDA Guaranteed Rural Housing Loans
The USDA has great loan program designed to help moderate income buyers purchase a home in traditionally rural areas with 100% financing. The first step is to determine if you are eligible to qualify

http://www.brokeroutpost.com/reference/210941.htm (Updated: 06/06/2008)
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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)
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Reverse Mortgage
A form of mortgage in which the lender makes periodic payments to the borrower, using the borrower's equity in the home as security. For older owners who have a lot of equity in their home, this can b

http://www.brokeroutpost.com/reference/11485.htm (Updated: 12/12/2007)

Employment History
Most lenders will require that all loan applicants have an employment history which is no less than 2 years to show that you have a sustainable source of income.

http://www.brokeroutpost.com/reference/65145.htm (Updated: 12/02/2007)

Morgage Rates
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)
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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)

Mortgage FAQ's
There are many common questions that people have regarding their mortgage, how to get a mortgage, what they need to qualify, and about specific concerns they have about applying for a mortgage. Here a

http://www.brokeroutpost.com/reference/23856.htm (Updated: 10/22/2007)
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The Truth About "No Closing Cost" Loans
You may have heard recently that “people are smart.“ Of course, you probably didn’t need a silly commercial to tell you that. But since its also true that some people are smarter than others, it’s i

http://www.brokeroutpost.com/reference/131710.htm (Updated: 10/14/2007)
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My Only Source of Income is Social Security.
If you are not employed, but receive income from social security or a pension, you can still qualify for a home loan. You will need to show proof of the amount you receive monthly and verify that you

http://www.brokeroutpost.com/reference/38879.htm (Updated: 10/10/2007)
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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)
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Who Can Benefit From an Payment Option ARM
Self-employed borrowers with inconsistent income Borrowers with inadequate or no retirement savings Borrowers who want cash reserves for emergencies Borrowers who need money to start or expand a bu

http://www.brokeroutpost.com/reference/14959.htm (Updated: 10/09/2007)

Bad Credit Mortgage Loans
Many mortgage companies are hesistant to finance people with slow credit or no money to put down. A bad credit mortgage broker helps people who have bad credit score, low income, etc.

http://www.brokeroutpost.com/reference/122200.htm (Updated: 10/08/2007)
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FHA Streamline Refinance
For a normal refinance, you must qualify for the loan and provide all of your income, banking, credit, and liability information as well as an appraisal. If an FHA streamline refinance is done withou

http://www.brokeroutpost.com/reference/161728.htm (Updated: 10/06/2007)
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How does a reverse mortgage work?
Designed for seniors, a reverse mortgage is a loan that allows the homeowner to convert some of the equity in their home into cash or monthly income, while retaining home ownership. Reverse mortgages

http://www.brokeroutpost.com/reference/33499.htm (Updated: 10/04/2007)

Negative Amortization Loan
Negative Amortization Loan programs, which were once available to only the wealthiest of a bank's customers due to their ability to allow borrowers to defer interest, are now being marketed to more "c

http://www.brokeroutpost.com/reference/119534.htm (Updated: 09/11/2007)
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Why a Broker instead of the Bank?
The Bottom Line - This isn't the closing costs at the end of the loan, but the total cost of the loan over its lifetime. A broker will have higher closing costs, because it subcontracts services. Th

http://www.brokeroutpost.com/reference/114152.htm (Updated: 09/11/2007)

The Appraisal Report
The appraisal report is completed by a licensed appraiser who determines what the value of the inspected property will be. There are three methods that the appraiser will use to validate his opinion i

http://www.brokeroutpost.com/reference/63624.htm (Updated: 09/06/2007)
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Investment Property Mortgage Refinance
A refinance for a investment property is just like a mortgage refinance on your primary residence with only a few slight differences. When qualifying for a investment property mortgage refinance under

http://www.brokeroutpost.com/reference/134767.htm (Updated: 09/04/2007)
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No Documentation Refinance
No Documentation Refinance home loans allow borrowers who find it difficult or disadvantageous to document their income to qualify for competitive mortgages without providing any Income or Asset docum

http://www.brokeroutpost.com/reference/93387.htm (Updated: 09/04/2007)
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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)
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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)
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What is an ALT A Loan?
An ALT A loan is a term used from lenders and mortgage brokers for loans that are not usually the A Paper best rate loan, nor are they the subprime loan with very high interest rates. ALT A loans are

http://www.brokeroutpost.com/reference/149510.htm (Updated: 08/31/2007)

What Is Needed For A Pre-Approval
If you are looking to get pre-approved for a mortgage loan, then there are several items that you will need to provide to your mortgage professional or mortgage broker. The first step in the pre-appro

http://www.brokeroutpost.com/reference/156263.htm (Updated: 08/31/2007)
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Rental Properties
Rental properties can create problems for prospective borrowers; this is mostly because lenders have a risk-based view of income earning properties and the potential effect they can have on the borrow

http://www.brokeroutpost.com/reference/134234.htm (Updated: 08/31/2007)
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Acceptable Forms of Income Documentation
Many people want to know what forms of income documentation are acceptable to a lender for obtaining a mortgage? There are many forms of income documentation that can be acceptable to use for obtainin

http://www.brokeroutpost.com/reference/156243.htm (Updated: 08/31/2007)
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Downpayment - How Much is Needed?
When buying a home you may be required to make a down payment depending on numerous factors, such as your credit score, your debt to income ratio, your employment information, the amount of money you

http://www.brokeroutpost.com/reference/151980.htm (Updated: 08/31/2007)
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Stated Income Pay Option Loans
Despite recent secondary market restrictions, there are still Stated Income Pay Option Loans available to consumers. The pay option programs come with a variety of terms and qualifications. Pay optio

http://www.brokeroutpost.com/reference/158551.htm (Updated: 08/31/2007)
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What information is required to get preapproved?
If you are applying for a mortgage, have following information ready to give to your mortgage professional: - Employment information: Company name, job title, length at job, gross monthly income. I

http://www.brokeroutpost.com/reference/147446.htm (Updated: 08/01/2007)
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What is a Subprime Mortgage Loan
What is a subprime mortgage loan? Many consumers have heard the term subprime loan but many are unfamiliar with what the definition of a subprime mortgage loan actually is. In mortgage financing borro

http://www.brokeroutpost.com/reference/145531.htm (Updated: 07/31/2007)
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Full Documentation
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)
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Chapter 13 Bankruptcy
Chapter 13, also called a “wager earners” plan, allows an individual with regular income to submit a plan to the courts for repayment of debts, usually over a period of three to five years. Most im

http://www.brokeroutpost.com/reference/119450.htm (Updated: 07/17/2007)
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Are you Self Employed?
If you own 25% or more of any business you are then considered to be Self-Employed. And as you know being self-employed allows you to reduce your taxable income by writing off many of your operatin

http://www.brokeroutpost.com/reference/134340.htm (Updated: 07/09/2007)
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Documenting Assets
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)

Debt To Income Ratio
A Debt to Income Ratio is a calculation used to determine if the income of a potential borrower qualifies for a mortgage loan.

http://www.brokeroutpost.com/reference/75429.htm (Updated: 06/29/2007)
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What will a lender accept as proof of Income?
Many borrowers today earn income in many different ways. When applying for a mortgage they have a hard time proving their income in traditional ways with pay stub and W2's. Lenders have recognized thi

http://www.brokeroutpost.com/reference/48617.htm (Updated: 06/28/2007)
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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)
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How can I prove my income?
While it’s true that most people know how much mortgage they can afford based on their monthly budget, there are times where the manner in how the income is generated may make it difficult to qualify

http://www.brokeroutpost.com/reference/134289.htm (Updated: 06/25/2007)
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SISA Loan
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)

Can I afford to buy a home?
Can I afford to buy a home? There are many different factors that go into deciding if you can afford to purchase a home. The most important factors are what is my present income and how much do I have

http://www.brokeroutpost.com/reference/47273.htm (Updated: 06/22/2007)

Home Interest Rate
Home interest rates vary from borrower to borrower. Even with the same types of mortgage loans, what rate one person qualifies for does not mean that is what rate another person will qualify for. Home

http://www.brokeroutpost.com/reference/128467.htm (Updated: 06/03/2007)
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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)
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Self Employed Mortgage Loan
A major problem with getting a self employed mortgage loan is documenting an applicant's income to the lender's satisfaction. Applicants with jobs can provide lenders with pay stubs, and lenders can v

http://www.brokeroutpost.com/reference/126588.htm (Updated: 05/29/2007)
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Income Documentation
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)
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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)
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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)
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Stated Income Loan
Stated income loan programs are offered on fixed rate mortgages, adjustable rate mortgages, or on negative amortization mortgages. They do not require income verification.

http://www.brokeroutpost.com/reference/11090.htm (Updated: 05/26/2007)

Cash Out Refinance
Cash-out refinance option for those homeowners who have built equity in their property thru market appreciation. A Cash-Out Refinance lets you take advantage of the equity over the years you have bui

http://www.brokeroutpost.com/reference/31632.htm (Updated: 05/25/2007)
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How Is My Income Calculated?
The type of income you receive will determine how your lender calculates what you make. For example a self employed borrowers income will be calculated differently than someone who is paid hourly. W

http://www.brokeroutpost.com/reference/44114.htm (Updated: 05/24/2007)
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How can I get approved for a bigger home
There are many options out there that can help you get approved for a bigger home or a bigger mortgage now. You can obtain a mortgage on a 2 1 buy-down program. This will allow you to have an interest

http://www.brokeroutpost.com/reference/29068.htm (Updated: 05/24/2007)
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How to afford a mortgage
The main problem in buying a home today is not income or credit requirements but finding having the funds available to cover the down payment and closing costs. While a traditional conventional loan r

http://www.brokeroutpost.com/reference/27153.htm (Updated: 05/24/2007)
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