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How Lenders View Retirement Income in Mortgage Applications When it comes to qualifying for a mortgage, retirement income can be a reliable and acceptable source, as long as it meets specific criteria. This includes income from Social Security, pensions, and…
Understanding the Difference Between Mortgage Scores and Free Credit Scores If you’ve ever checked your credit score using a free online tool or your banking app, you might have felt proud seeing a solid three-digit number. But then, when you…
Simplifying Mortgage Approval for Entrepreneurs and Business Owners For self-employed individuals, qualifying for a mortgage can sometimes feel like an uphill battle. Traditional loans often rely on tax returns or pay stubs, which may not accurately represent your financial reality…
Why Every 5-Star Review Matters So Much to Us - Turning Client Reviews into Better Service Every Day At Innovative Mortgage Brokers, our mission has always been to guide homeowners and buyers in Pennsylvania (PA) and Florida (FL) toward their…
What Fannie Mae, Freddie Mac, and FHA Require from Commission-Based Borrowers Commission income can be a powerful asset when qualifying for a mortgage. However, unlike salaried income, commission-based earnings have unique guidelines for qualification and documentation, particularly from major mortgage…
Hidden Fees, Higher Rates: The Real Cost of Mortgage Industry Turnover The mortgage industry is known for its high turnover rate among loan officers. Many loan officers hop between companies, chasing higher commissions, bonuses, or other perks. While this may…
Who’s Buying Homes in 2024? A Look at Demographics and Trends The 2024 Profile of Home Buyers and Sellers by the National Association of Realtors (NAR) sheds light on significant shifts within the real estate landscape. With data spanning July…
Navigating Fannie, Freddie, and FHA Guidelines For some individuals, capital gains income can be a crucial component in demonstrating financial stability during mortgage applications. If you are a real estate investor or earn income through asset sales, you may be…
Why FHA loans are a solid choice for both new and repeat homebuyers. When people think about FHA loans, many believe they’re exclusively designed for first-time homebuyers. However, that’s a common misconception. FHA loans are actually available to a wide…
Discover the top reasons behind today’s home purchases, and how they affect the market. The decision to buy a home is driven by many factors, and for potential homebuyers, these motivations vary based on personal circumstances, lifestyle changes, and financial…
