Category Archives: Mortgage

Mortgage Rates Drop to 3-Month Lows Ahead of Important Data

Mortgage rates fell at the fastest pace in over a month today bringing them to their lowest levels since early February.  The motivation for a move of this size isn’t readily apparent, but tomorrow’s Employment Situation Report is likely a factor.  The underlying reasons for that are complex, but the gist of it can be explained with an analogy.  The financial market participants that trade Read More →

Why Mortgage Lenders Want to See Tax Returns

If you are shopping for a home mortgage be prepared to hand over the real proof of taxable income.  Lenders used to rarely require borrowers to provide copies of federal tax returns.  Today, lenders often ask borrowers to turn over their entire tax returns. Most people think that that can just bring in the first few pages of their tax return.  What lenders really need Read More →

Bryan Edelman Pre-approval

Top 5 Reasons To Get A Mortgage Pre-Approval Letter From Your Lender

Most home buyers know they should get a mortgage pre-approval letter from a lender before they begin seriously shopping for a home. But the reasons for this advice aren’t always clear, and buyers sometimes are dismayed by the amount of paperwork involved. Here is some of the reasoning behind the advice: 1. A pre-approval letter is more reliable than a pre-qualification letter. Getting a pre-qualification Read More →

LI Mortgage Broker

Being Prepared When You Apply For a Mortgage

All lenders are now required to verify your income and financial information before giving you a mortgage loan. Your lender or mortgage broker should give you a specific list of what it will need. In general, most request the following: A purchase contract, if you have one for the home you are buying. Social Security numbers or individual taxpayer identification numbers for all borrowers. Your Read More →