When it comes to buying a home, closing costs are easily one of the biggest stressors in the process. Not to mention the variable fees and attorney costs, which could result in a higher price point than anticipated. Mortgage closing costs are unavoidable, however there are some areas that can be negotiated. If you’re looking […]
Think of credit card debt and mortgage approval like using a handheld map to reach a destination. You can still get somewhere with a handheld map, but a GPS navigation system would make it a hell of a lot easier. You can still apply for a home loan with credit card debt, but it will […]
We’ve received a ton of questions regarding COVID-19 and how it can affect your mortgage. Things have been changing rapidly, and we know how troubling and confusing these times can be. We’re providing a breakdown below that will highlight what COVID-19 means for home buyers, homeowners that are considering refinancing, people with adjustable-rate mortgages, and […]
Buying a home is a complex process. Even though you’ve likely done some research in advance, you may have additional questions. Here are some questions to ask a mortgage lender that could help guide your conversation and get the information you need to know before you buy. What types of loans are available, and which […]
Saving for a down payment may seem like a daunting task to many home buyers. The good news is that there are plenty of mortgages that require little to no down payments. Here’s what you need to know about buying a home with a small down payment, or no down payment at all. Pros and […]
Getting a mortgage pre-approval is a crucial first step in the home-buying process that can sometimes be overlooked. A mortgage pre-approval helps you understand how much house you can afford, makes you more attractive to sellers, and alerts you to problems that may affect your ability to get a loan. Why should you get pre-approved […]
Debt to income ratio is a calculation of the percentage of your monthly debt payments, compared with your gross monthly income. Monthly debt payments include mortgage payments, car payments, and any other minimum loan or card payments. Living expenses like gas, groceries, and utilities are not included. Debt to income ratio is an important factor […]
Homeowners across the country are seeking mortgage forbearance as unemployment numbers continue to rise amid the coronavirus pandemic. The CARES Act stimulus package requires servicers to provide forbearance — a temporary postponement of payments — to any homeowner with a federally-backed mortgage. Delaying one’s mortgage payments has proved exceptionally popular, as forbearance requests have significantly […]
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 […]
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 […]
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Ken Venick
Phone: 443-471-4310
ken@kenvenick.com