Want a Quick Mortgage Approval? Come Prepared With These 5 Key Items

Whether you’re finally prepared to get into the real estate market or you want to know how you can make a deal quick, there are a few necessary documents you’ll need to prove your reliability to a mortgage lender. If you’re wondering what will be involved in getting the application approval you’re looking for, here are the documents you’ll want to have on hand when the time comes. Previous Tax Returns In order to ensure the earnings information you’ve provided to the lender, you’ll have to have your tax returns for the two years prior to your mortgage application. In addition, you may also be required to provide your W-2s as backup documentation. Bank Statements To make sure you’re a solid bet who will be...

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What’s Ahead For Mortgage Rates This Week – June 26, 2017

Last week’s economic news included readings on sales of new and previously owned homes. Despite expectations of lower sales in both categories, sales surpassed expectations and April sales. Analysts were concerned about extremely tight inventories of available homes limiting home sales and did not expect May home sales to increase. May Home Sales Surpass Expectations Sales of new homes increased to a seasonally-adjusted annual rate of 610,000 sales as compared to expectations of 590,000 sales and an annual sales pace of 593,000 homes in April. Home builders have repeatedly cited a lack of buildable lots and skilled labor, but growth in new home sales could prompt more housing starts. Real estate industry pros insist that building more homes is the only way to ease tight...

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Understanding How Mortgage Calculators Work and When to Make Use of One

Investing in a home is a big financial decision, and along with the decision to buy is the question of how much mortgage you’ll be able to afford. While your debt-to-income ratio can be helpful in determining the range for your mortgage amount, a mortgage calculator can be a beneficial tool in coming to a potential price. If you’re curious about how and if this financial tool can benefit you, here are the details about using a mortgage calculator. What Does It Do? It’s very important to ensure that you can afford your mortgage before signing on the dotted line, and a mortgage calculator can assist with this. Most calculators utilize the principal amount of the loan, the interest rate and the amortization period in...

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Summer’s Here! Freshen up Your Home Decor With This Summer Color Palette

Now that the summer season has arrived, it’s time to enjoy the warm weather and cooler clothes. You might also be thinking about making some design changes to your home to welcome the season and indulge in its brilliance. If you’re looking for some new color schemes and how you can use them to amp up your home, here a few brightly-colored suggestions to try out for yourself. Sky Blue With the reminder of the sea and the sky, few things are akin to summer like bright blue. Instead of going overboard with this shade, try adding an accent like a side armchair, a throw or even some pillows to be adjusted with the seasons. If you’re really feeling the color, you might even want...

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3 Ways to Earn Some Spare Cash to Help Pay Your Mortgage Down Faster

A mortgage is one of the most expensive purchases you’ll make in your life, and for many, the idea of being indebted to it for years can seem like quite a burden. However, while you won’t necessarily be able to pay off your home with instant savings, there are ways that you can pay it down more quickly. If you’re wondering how to drum up some extra money for your mortgage, you may want to consider the following options. Refinance Your Mortgage One of the best ways to get a hold of extra funds is by lowering the amount you owe, and refinancing can be a way to do this. Since the interest rate on your mortgage adds up to additional money spent over time,...

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