Search results for “Pre-qualification”
What is the Difference Between Pre-approval and Pre-qualification?
What is Pre-Qualification? So, you want to know how much house you can afford? A pre-qualification is the most basic way a loan officer can guestimate the loan amount you may qualify for. You provide ...
7 Steps to Make an Offer on a House
1. Find Your Home Before you can make an offer on the perfect house you of course have to find it. Newrez has partnered with XOME to help you do just that. With this intuitive home search tool with ...
Step 1: Determine If You’re Ready to Buy a House Are you excited about buying your new home? Know that preparation is a huge step that can save you a lot of time along the way. Rounded up below are ti...
Requirements for a VA Jumbo Loan VA jumbo loans require standard property and appraisal requirements. Additionally, the home must be a primary residence and it must pass basic inspections including fo...
The Self-Employed Mortgage Access Act
The ranks of self-employed individuals are growing, leading to a greater awareness of the financial challenges facing people who are their own bosses. While companies that take advantage of "gig" hiri...
Your credit score and how it differs from your credit report
What is your credit report? A credit report is an extensive record of your financial history and how you’ve handled the obligation to repay your loans. Depending on how long you’ve been attached to li...
The Benefits of Using a Loan Officer for Your Mortgage
What is a Loan Officer? As James Taylor famously reminds us in his hit song written by Carole King, “Now, ain’t it good to know that you got a friend?” If you have ever experienced a complex financial...
Can You Buy a House with No Money Down?
Zero Down Option #1: The USDA Home Loan What is a USDA Loan? The U.S. Department of Agriculture offers a 100% financing mortgage. The program is also technically called a Section 502 mortgage, h...
Industry Terminology: Loan Modification
What is Loan Modification? Simply put, loan modification refers to any change or alteration that a lender makes to a loan. A loan modification could include a reduction in the interest rate, an increa...