It’s easy to feel like home buying may not be possible based on your income. Homes are expensive, and it’s not uncommon to hear horror stories about how difficult it is to qualify for a loan, how often borrowers took out loans that were more than they can handle,
As a mortgage banker with branches from the east coast to the west I see every kind of loan, and every kind of borrower. My goal with this blog is to offer my Insider Tips to help you with your next mortgage, be it a purchase or refi, and no matter the loan type.
Open Mortgage has every FHA approval available, with Direct Endorsement and self-insuring. We have every VA and USDA rural approval as well. We offer every size of loan. We are also highly experienced in Reverse Mortgages. We are full-service, in that we have staff in-house to handle every step of the process, including processing, underwriting, closing, funding, shipping, and insuring, on every type of mortgage including Reverse Mortgages.
If I can help you personally, please contact me through the Contact link above or through my phone or email to the right.Scott Gordon CEO, Open Mortgage, LLC
In most cases, mortgage loan originators look into your past, present, and likely future to determine if you qualify for a home mortgage. They look at your payment history, your credit score (which takes years to develop), your income for the year, and more.
Many of these factors are difficult to change by the time you apply for a home loan.
Mortgage rates are on the rise, and that means if you have been putting off a refinance, it may be time to hurry. The longer you wait, the more likely the interest rates will increase – at least in today’s economy – and that reduces the value of refinancing in the future.