In this blog, we will cover and discuss how to improve credit scores to buy a house. There are minimum credit score requirements to qualify for a mortgage. What is your FICO at 400 and how to improve your credit score to buy a house? We will try to explain all possible case scenarios below….
If you are in the process of a home loan, you know the appraisal process is one of the most stressful parts of the entire transaction. Lately, the team at Capital Lending Network, Inc. has received numerous calls and inquiries surrounding appraisal requirements and appraisal transfer policies. In this blog, we will detail the process…
Letter Of Explanation To Mortgage Underwriters is part of the overall mortgage process. Borrowers do not need to be alarmed when mortgage underwriters keep on asking for a letter of explanation. Letter of explanation is also commonly referred to as LOX. There may be dozens of letter of explanation requests by mortgage underwriters during the…
The Underwriting Process During The Mortgage Approval Process is the most important stage of the overall homebuying and mortgage process. The role of the mortgage underwriter is to fully review and analyze the borrower’s credit and asset information and make a determination on whether or not they qualify. The mortgage underwriter is the person that…
This Article Is On The Steps To Buying A House For First Time Home Buyers Planting your roots with buying a new home is a big step for most anybody. The real estate transaction and obtaining a mortgage home loan can be a major bumpy roller coaster. This is a HUGE purchase. Most likely the…
The qualification and pre-approval process is the most important step of the mortgage approval process. The loan officer should fully take their time in qualifying borrowers prior to issuing a pre-approval letter. The number one reason why there are delays or stress in the mortgage process is due to the fact the borrowers were not…
This Article Is About Credit Disputes Can Halt The Mortgage Process Credit Disputes Can Halt The Mortgage Process. Loan officers should never issue a mortgage pre-approval letter with outstanding credit disputes. The credit score with outstanding credit disputes is not an accurate credit score. Whenever a consumer disputes a derogatory credit tradeline, the credit bureaus…
This Article Is About Third-Party Mortgage Processing Used By Mortgage Lenders Using Third-Party Mortgage Processing can be a great benefit for mortgage companies during times of high volume and capacity. Most lenders have in-house mortgage processing. However, there are times when lenders are busier than normal. The mortgage process is a true process. You cannot…
How The Mortgage Process Works From Qualification To Closing is different among the various mortgage companies. However, the step of the overall home loan process is an actual process that involves multiple people and departments. The goal of the lender, whether they are mortgage bankers or mortgage brokers, is to get a mortgage loan application…
Understanding The Mortgage Process For First-Time Homebuyers is important. Most homebuyers will need a mortgage when buying a home. For most people, a mortgage can be intimidating and not a subject they want to learn. Understanding the mortgage process is not difficult. We will explain the step-by-step process on how the overall homebuying and mortgage…