Buying a home in a remote area can be a dream come true--peaceful surroundings, open spaces, and a slower pace of life. However, securing a mortgage for these properties comes with unique challenges. As a mortgage originator, I'm here to break down the hurdles and offer solutions so you can make your rural homeownership dreams a reality.
What’s Ahead For Mortgage Rates This Week – March 31st, 2025
With the introduction of tariffs on Tuesday, there is significant uncertainty across all sectors regarding the potential outcome. While important data releases--including the PCE Index, Personal Income & Spending, and Consumer Sentiment for the quarter--have taken place, their impact is expected to be largely overshadowed by apprehension surrounding the widespread tariff decisions.
Can I Get a Mortgage Without a Credit Score By Using Alternative Credit History?
When securing a mortgage, borrowers have the option to reduce their interest rate through a mortgage buydown. This strategy can help lower monthly payments, either temporarily or permanently, depending on the type of buydown chosen.
The Difference Between FICO Score and Credit Score: How It Affects Your Mortgage and Rates
When applying for a mortgage, your creditworthiness plays a significant role in determining your loan approval and interest rates. Two commonly referenced terms are FICO score and credit score, which are often used interchangeably but have distinct differences.
Navigating Mortgages as a Self-Employed Professional
Securing a mortgage as a self-employed professional can be more challenging than for traditional W-2 employees, but with the right preparation and documentation, it is entirely achievable. Here's a guide to help you navigate the process.
What’s Ahead For Mortgage Rates This Week – March 24th, 2025
The previous week had the Federal Reserve making their first rate decision since the Trump administration had taken office. With many uncertainties about the current direction of things, the Federal Reserve had decided there would not be any change necessary to the current rates. Stating that the current inflation and economic conditions have largely been a result of the Trump administration's policies on tariffs. Chairman Powell has been strongly dovish at this point, stating they would need to "see how things actually work out." There were a slew of other minor data releases but none were far reaching in their impact on the economy and current direction of things.
Mortgage Options for Non-U.S. Citizens
Purchasing a home in the U.S. as a non-U.S. citizen is entirely possible, but the process comes with unique requirements and considerations. Whether you are a permanent resident, temporary visa holder, or foreign national, understanding the available mortgage options can help you navigate the path to homeownership successfully.
Understanding Mortgage Payment Deferral Programs
For homeowners facing temporary financial hardship, mortgage payment deferral programs can provide much-needed relief. These programs allow borrowers to pause or reduce their monthly mortgage payments for a specific period, helping them avoid foreclosure while stabilizing their finances.
How Mortgage Amortization Works
When you take out a mortgage, you commit to a long-term financial obligation. Understanding mortgage amortization can help you make informed decisions about your loan and how your payments impact your financial future.
How Debt-to-Income Ratio Affects Your Mortgage Eligibility
When applying for a mortgage, lenders evaluate several factors to determine your loan eligibility. One of the most critical metrics is your Debt-to-Income Ratio (DTI). Understanding how DTI impacts mortgage approval can help you better prepare for homeownership and improve your chances of securing the loan you need.
