Cincinnati Real Estate

Mortgage Articles and Advice

How Much House Can You Afford?

Debt-to-income Ratios

Your Monthly Income - the way Lenders Figure it

Your Maximum Monthly Mortgage Payment

The Rest is Easy - Sort of

Your Down Payment Affects Everything Else

Analyzing Your Savings - the First Step

Mortgage Program Choices

Shopping for Interest Rates

Writing Your Offer

Conclusion - Look at Your Savings First

Documenting Your Assets & Verifying Your Down Payment

You can't just "come up" with the money

Checking, Savings, & Money Market Accounts

Stocks, Bonds, Mutual Funds, etc.

Gifts from Family Member

401K or Retirement Accounts

Selling Personal Property

Help from Employers

Savings Bonds

Borrowing to Come up with a Down Payment

Where Does Mortgage Money Come From?

The Olden Days

How it works now

Mortgage Backed Securities

Different Types of Lenders

Mortgage Bankers

Mortgage Brokers

Wholesale Lenders  

Portfolio Lenders

Direct Lenders

Correspondents

Banks

Savings & Loans Credit Unions

Advantages of Different Types of  Lenders

What kind of Lender is Best?

Portfolio Lenders

Banks and Savings & Loans

Mortgage Bankers

Mortgage Brokers

Wholesale Lenders

When Realtors or Builders Recommend a Lender

Things You Need When You Apply for a Home Loan

"Alternate" Documention versus Full Traditional Documentation

The Actual List of things you need to get a quick loan approval

Closing Costs When Buying or Refinancing a Home

Introduction

Lender Associated Costs - the "normal" one

Lender Associated Costs - the "other" ones

Items Paid in Advance

Impounds or Reserves

Costs not Associated with the Lender

Refinancing Associated Costs

Asking the Seller to Pay Closing Costs - Advice and Rules

Mortgage Interest Rates - How it Works

A Loan Officer's Rate Sheet

Pricing the Loan

Quoting Rates to You

Locking in Your Rate

Shopping for Rates

Getting Reliable Quotes

Credit Articles & Advice

Contact Information for the Credit Bureaus

Cleaning Up Your Credit

Introduction - Lenders Check Your Credit
Get a Copy of Your Credit Report
What to Say When You Call Your Creditors
How to Get Written Confirmation of Agreements
Disputing the Credit Report When Creditors Won't Cooperate
Mistakes on Your Credit Report
Bankruptcies
Conclusion

How FICO Credit Scoring Affects Your Home Loan
Odds of a delinquent mortgage for different levels of FICO Scores.
What makes up a FICO score, and how lenders look at them.
FICO scores and mortgage underwriting decisions.