Your credit score is one of the most important factors in mortgage approval. Lenders use credit scores to determine the likelihood of a borrower defaulting on a loan. The higher the credit score, the lower the risk to the lender. That means you're more likely to get approved for a mortgage with a high credit…
When you're ready to begin the process of applying for a mortgage, it's important to have a clear understanding of what's required. This checklist will help ensure that you have all the necessary documentation and preparations to make the process as smooth as possible.
Starting with the Basics
Be ready to answer detailed questions from…
Mortgage lenders require borrowers to prove their income when applying for a loan. There are a few different ways to do this, but the most common is to provide tax returns from the past two years.
Lenders use this information to verify your income and determine whether you can afford the loan. If…
When it comes to life insurance, there are a lot of different factors to consider. It can be a tough decision to carry out, but it is important. There are several ways to decide if life insurance is suitable for you.
How to Determine the Right Life Insurance for You
You must consider several aspects…
If you're a first-time buyer, getting a mortgage can be daunting. There are many things to consider, and it's important to be prepared before starting the process. Things can be easier with the help of mortgage advisors in the UK, but you may get started with this guide.
What Are the Things to Expect When…
It's imperative to understand the reason(s) for your rejection before reapplying. Your credit score and chances of getting approved will suffer if you submit numerous credit applications quickly.
Why Did My Credit Request Get Turned Down?
Some common justifications for credit refusals include the following:
The specific requirements for a lender has not been met.…
Are fixed-rate mortgages a good option for you? This is a question that many people are asking as they consider their mortgage options. To answer this question, you need to be as informed as possible about mortgages. To help you out, here’s a brief breakdown of everything that you need to know about fixed-rate mortgages.…
If you are like most others, your house is probably among your most significant investments and, therefore, your biggest financial obligation too. Anyone who has ever had a mortgage can tell you how complex they can be. And with all the available mortgage options, it's not easy to find what's suitable for you.
That's why…
With so many words and terms tossed around in mortgage lingo, you may find yourself scratching your head trying to grasp everything about it. Unfortunately, while some terms are obvious, some are a little more cloudy. Today, we want to tackle something called AIP, short for agreement in principle. Do you know what that is?…
Have you ever considered how your financial state will play out? Some people believe that saving up can be done later since there are many ways to make money. But what they didn't know is that nothing beats being covered and protected against any financial crisis that may come your way.
This is where insurance…
When you apply for a mortgage, there’s a good chance your application will be denied. Despite the rising numbers of mortgage approvals in recent months, lenders can still be pretty strict in approving mortgage applications. If your mortgage application is denied, don’t despair. There are a few things you can do to appeal the decision…
So, you’re ready to buy your first home. Congratulations! This is a huge step in your life. But before you can buy that home, you need to secure a mortgage. What is a mortgage? A mortgage is a loan that is used to purchase a home. The lender gives you the money to buy the…