When applying for a mortgage, your lender will ask to see your financial documents, including your bank statements. Lenders examine bank statements to check your eligibility for a mortgage. Read on to learn more about bank statements and ways to better your odds of being approved for a mortgage. What is a Bank Statement? A […]
The FHA 203(k) Loan is an easy to use mortgage program specifically designed for those who wish to make improvements on an owner-occupied home they own or would like to buy. Rather than having to obtain a separate loan to finance the cost of repairs, the FHA 203(k) loan allows you to finance the rehab […]
Mortgage rates had hit all-time lows two weeks ago but have taken a sharp jump this week due to stock market changes, government spending and underlying stresses caused by the coronavirus pandemic. Mortgage rates were driven lower largely by the steady decline in bond yields in response to concerns about the economic impact the COVID-19 […]
Ready to purchase a new home? This checklist explains some of the most important steps you should take when applying for a home mortgage loan. Review this home buyer’s mortgage checklist to increase your chances of getting a mortgage approval. Check your credit and strengthen it if necessary When you apply for a mortgage loan, […]
Many homebuyers need a mortgage to buy a home, so it’s important to prepare so you have the best chances of getting approved for a loan. Here are some things you should try to avoid when you apply for a mortgage. DON’T: Make major purchases (especially on credit). Buying something expensive, like a […]
When you’re in the process of getting a mortgage, you often need to make a down payment to cover a portion of the purchase price. A down payment is an important part for getting approved, and it can affect your borrowing costs throughout the life of your loan. Here are the advantages and disadvantages of […]
When shopping for a mortgage, you’re bound to encounter the term “conventional mortgage” or “conventional loan.” Here are some answers to the most frequently asked questions about conventional mortgage loans. What is a Conventional Loan? One of the most common types of loans that home buyers come across is the conventional loan. A conventional loan […]
An FHA loan provides a great opportunity for people who want to purchase a home. Here are some of the most frequently asked questions about FHA loans. What is a Federal Housing Administration (FHA) Loan? An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). Designed […]
One of the biggest purchases a homeowner will take is getting a home mortgage. When shopping for a mortgage, it’s helpful to understand how interest rates work. Here’s some information that explains what interest rates are and how they are applied in a mortgage. What Is An Interest Rate? Interest is calculated as a percentage […]
A mortgage processor serves as an important function in the process of evaluating your loan, but you may be wondering exactly what they do. We will discuss what a mortgage processor is, explain their role and responsibilities, and why they matter in the homebuying mortgage loan process. What Are Mortgage Processors And Why Are They […]
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Ken Venick
Phone: 443-471-4310
ken@kenvenick.com