15 Feb 2024
By Mark Feder

Why It’s Important to have a Mortgage Pre-approval Letter and How to Get One

Mortgage Application
If you are thinking about buying a new home shortly, you may already be searching online to get a feel for the different types of homes available in the local area. You may have reviewed your budget, and you may have a fair idea about a sales price that is comfortable for you to afford. While you may feel as though you have taken the preliminary steps necessary to prepare yourself to buy a home, it is important that you also get a mortgage pre-approval letter for your financing before you start hunting for that perfect new house or condo.…
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21 Dec 2023
By Mark Feder

Mortgages for Non-U.S. Citizens Exploring Financing Options for Foreign Homebuyers

Mortgage Application
Becoming a homeowner in a foreign land is an exciting yet intricate journey. For non-U.S. citizens, securing a mortgage in the United States involves understanding and meeting specific requirements. We will explore the essential prerequisites and considerations for non-U.S. citizens aspiring to own a piece of the American dream. Visa Status and Residency: Before delving into the world of mortgages, non-U.S. citizens must first consider their visa status. Lenders often require borrowers to have a valid visa and proof of residency. Permanent residents (green card holders) may find it easier to qualify compared to those on temporary visas. Credit History:…
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14 Nov 2023
By Mark Feder

Speed Your Mortgage Approval up by Following This Checklist

Mortgage Application
Have you finally found your dream home after months of searching, and then you are told that the seller has received other offers? No buyer wants to find themselves in a bidding war against another buyer as it is a stressful situation. Being unprepared and not having your finances in order will make it even more stressful. Here are a few quick ways if you're looking to speed up your mortgage approval process, here's a checklist to help you prepare: ·        Review your credit report: Maintain a good credit score by paying bills on time, reducing existing debt, and avoiding…
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16 Mar 2021
By Mark Feder

Understanding The Difference Between A Co-Borrower And A Co-Signer: What Do They Mean?

Mortgage Application
There is a lot of jargon that comes with purchasing a home. Even though this could be confusing, purchasing a home is also a significant decision. Therefore, it is critical for everyone to understand exactly what they are signing before they scribbled their name on the dotted line. In some cases, a co-borrower or a co-signer (also called a non-occupying co-borrower) could be needed to strengthen the application. What is the difference between these two terms?  What Is A Co-Borrower? First, a co-borrower is simply a co-owner. Both names are on the title of the home. The co-borrower also shares…
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