Latest Articles

Mortgage Preapproval Affect on Credit Ratings

Does Shopping Around for a Mortgage Preapproval Hurt Your Credit Rating? For serious home shoppers, especially in competitive housing markets, it isn’t enough to be prequalified. You also need to be preapproved for a loan amount equal to or greater than the price of the home you’re considering (minus the down payment).  That said, stringent […]

Is your Condo Project in Litigation?

Good News for Condos with Minor Litigation with Fannie Mae and Freddie Mac:  If the lender determines that pending litigation involves MINOR matters with no impact on the safety, structural soundness, habitability, or functional use of the project, the project is eligible provided the litigation meets one or more of the following conditions: non-monetary litigation […]

Understanding Your Debt Ratio

When you are filling out a mortgage application, the lender will be asking you for specific financial information. One of the reasons they ask for this information is to enable the underwriter to calculate your debt ratio, also known as DR or DTI for “debt to income ratio”. The debt to income ratio is what […]