Blog – Page 3 of 743

08 Jan 2025

Can You Use Income From Two Jobs to Qualify for a Mortgage?

Homeowner Tips

Balancing two jobs or a full-time career with a side hustle can be rewarding, not just for your wallet but also when it comes to qualifying for a mortgage. Lenders recognize that additional income can strengthen your application, but there are specific rules to ensure your income is reliable and sustainable. If you’re wondering whether you can use the income from two jobs to qualify for your dream home, the answer is yes, but there are some important factors to consider. How Lenders View Your Income Primary Job IncomeYour main job is the backbone of your financial profile and carries…

07 Jan 2025

By Mark Feder

How to Avoid Mortgage Scams and Stay Safe When Buying a Home

Home Mortgage Tips

Scams are everywhere, and the mortgage world is no exception. As you start the exciting journey of homeownership, it’s essential to be aware of the potential risks and arm yourself with knowledge to protect your investment. Here’s what you need to know about common mortgage scams and how to safeguard your financial future. Common Mortgage Scams to Watch Out For 1. Wire FraudOne of the most common and devastating scams is wire fraud. Scammers impersonate your lender or title company, sending fake instructions to transfer your closing funds. Victims often lose their money with little chance of recovery. What to…

06 Jan 2025

By Mark Feder

What’s Ahead For Mortgage Rates This Week – January 6th, 2025

Financial Reports

With the holiday season coming to a conclusion, there was little in the way of data releases. Last week, the main reports were the Chicago Business Barometer and the ISM Manufacturing Index, both indicating a slight contraction in the manufacturing sector. This comes as we await the upcoming administration change at the White House. The impact of this is relatively minimal, with lending rates continuing their downward trend. Next week we will be expecting the year-over-year for both the Consumer Price Index (CPI) and Producer Price Index (PPI), wrapping up 2024. Chicago PMI The Chicago Business Barometer, also known as…

03 Jan 2025

By Mark Feder

Start the New Year with a Clean Slate

Credit Scoring

As we step into a new year, it’s the perfect time to focus on understanding and improving your credit score. Whether you’re planning to buy a home, refinance, or simply enhance your financial health, your credit score plays a pivotal role in shaping your opportunities. Let this be the year you clean up your credit and take control of your financial future! What is a Credit Score? Your credit score is a three-digit number, typically ranging from 300 to 850, that represents your creditworthiness. It’s used by lenders to assess how likely you are to repay debts on time. Scores…