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Non-QM loans are a relatively new addition to the mortgage industry, introduced following the housing crisis of 2008. The aim was to create more stringent lending criteria to prevent future financial crises. However, these stricter regulations inadvertently left certain borrowers…
Here’s what you need to know about your debt-to-income ratio. Today I want to talk about a pretty important topic: your debt-to-income ratio. If you don’t know, this is what lenders use to approve or deny loans. If you want…
If you have purchased a home, you have likely taken out a loan called a mortgage to pay for the house. Most mortgages have four main components: 1.Principal: This is the amount of money you are borrowing. 2. Interest: This…
