Engaging an experienced attorney is crucial for a seamless Chapter 7 bankruptcy journey. Your attorney will expertly handle various legal tasks throughout the process, ensuring your peace of mind. Here’s a step-by-step breakdown of the Chapter 7 proceedings. Credit Counseling: Your first step is to undergo a credit counseling session with a court-approved agency...
The team at Capital Lending Network, Inc. (CLN Mortgage) has helped many first-time homebuyers enter the housing market. As millennials currently make up the majority of first-time homebuyers, many of them are taking a different approach when it comes to buying a home. Census data show millennials tend to live closer to major cities where...
If you have an eviction on your record, it doesn’t mean that you can’t ever own a home. There are plenty of programs available to those with less-than-perfect credit histories that can help you get into a home of your own. An eviction is a legal process of removing a tenant from a rental property....
This Article Is About Shopping For A Home And Mortgage During A Sellers Market, Many homebuyers often get discouraged when buying a home with dozens of serious homebuyers during a hot booming housing market. The current trend is renters pulling the trigger to get qualified and enter the home purchase market. The pulse of a...
In this blog, we will be covering the FHA waiting period after short sale 2023 mortgage guidelines. HUD, the parent of FHA, along with other mortgage agencies such as VA, USDA, Fannie Mae, Freddie Mac has mandatory waiting period requirements after short-sale and/or other housing events. FHA waiting period after short sale requirements is a...
Securing a home loan is often complicated enough without having to worry about your credit score being too low to qualify. If you’re a veteran looking for a VA home loan and have a 500 credit score, you might be feeling overwhelmed by the process. Thankfully, there are lenders available that specialize in working with...
Calculating debt ratio is one of the key elements in getting a mortgage. The formula is basic math: total monthly payments divided by total income (payments/income) When you apply for a mortgage, you’ll need to meet maximum DTI requirements so your lender knows you’re not taking on more debt than you can handle. Lenders prefer...
Cash-out refinance is a popular mortgage program that allows homeowners to access the equity in their homes in order to use the funds for various expenses such as home improvements, debt consolidation, or college tuition. However, there may be situations where a cash-out refinance may not be the best option, or where a homeowner may...
The answer is YES. Licensed real estate agents can be licensed mortgage loan originators at the same time. However, many mortgage companies will not hire loan officers with active real estate licenses. This is not a law and/or a regulation but an internal rule by individual mortgage lenders. Most larger mortgage companies will require licensed...
Can I Qualify For A Mortgage With Outstanding IRS Debt is one of the questions we often get asked at Capital Lending Network, Inc. The answer is YES. Each home mortgage loan program has its own lending requirements when it comes to its agency mortgage guidelines on outstanding debt to the Internal Revenue Service. A...
In this blog, we will explain how to shop for the best mortgage lenders. The way to do comparative shopping of mortgage lenders can save you tens of thousands. Most people normally go with the first lender they contact. Mortgage rates vary widely between lenders. Mortgage rates even vary among independent P and L mortgage...
Non-QM Loans are nonconforming home mortgage loan programs benefiting homebuyers and real estate investors who cannot qualify and/or use a traditional home loan. Non-QM mortgages are not hard money loans. Mortgage rates may be slightly higher than government and/or conventional loans. Hard money loans are illegal on residential mortgages due to their high fees and...
In this blog, we will cover and discuss FHFA increase conforming loan limits in California on both median-priced areas and high-cost areas. The FHFA also increased high-balance conforming loan limits in California for 2022 to $970,800 in high-cost areas. Conventional Loans are the most popular loan program in the United States. Housing prices have been...
In this blog, we will discuss and cover the negative impact of credit disputes during the mortgage process and how they can impact the loan process. Credit repair is the process of removing your derogatory credit information from your credit report through credit disputes. Nothing is wrong with disputing credit tradelines if you have documentation...
In this article, we will discuss and cover conventional appraisal guidelines when buying a home with a conventional mortgage loan. We will also compare transferring an FHA appraisal versus a conventional home appraisal from one lender to a different mortgage lender. You can transfer an FHA appraisal to another lender if you decide to change...
This Article is about qualifying for mortgage loans for bad credit homebuyers. Homebuyers and homeowners can qualify for mortgage loans for bad credit with low credit scores on purchase and refinance transactions. There are many mortgage loans for bad credit available. The housing market is bullish and booming and is expected to continue. Homebuyers do...