For the first time in history, mortgage rates are at near historic lows as the U.S. job market is operating at full capacity. Since the decision to buy a home typically involves a steady job and the ability to afford monthly mortgage payments, demand to buy a home is currently at an all-time high.
The term “Non-Qualifying Mortgage” or Non-QM can sound intimidating. At its most basic level, a Non-QM loan is a loan that does not meet the standards set forth in regulatory reform imposed after the 2008 housing crisis. Below we take a closer look at what this really means in terms of risks and benefits for both consumers and lenders.
Lenders rely on credit reports as part of the process to qualify you for a loan. Negative information on a credit report or a low credit score could suggest that you are less likely to pay back debt as agreed. The tips below will help you “clean up” your credit so that you can put your best foot forward when applying for a loan.
Read More “Tips for Doing Your Own Credit Repair”
As the summer months approach, more and more of us will be spending time outdoors. The warmer temperatures and extra daylight are the ideal time to extend your home’s living space and enjoy your outdoor areas. Whatever the size of your yard, patio, or deck there are simple ways to make it as appealing and as livable as the inside of your home. Here are some ideas to get your outdoor space ready for relaxed summer living – without emptying your wallet! Read More “Create an Outdoor Living Space on a Budget”