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For example, if you have virtually no debt other than a mortgage or have lots of cash in the bank for reserves, it can boost your chances of approval and make you look like a more solid borrower ...
Reasons for mortgage denial can include any recent changes in your financial stability, such as a new job or unusual bank account activity. ... If you want to get an FHA-insured loan, for example ...
A mortgage loan application can feel like an IRS audit: tons of paperwork and a thousand questions about your finances. Unfortunately, even when you think you've done everything right, you could be...
In the United States, loan purpose is the underlying reason an applicant seeks a loan or mortgage. Lenders use loan purpose to make decisions on the risk and what interest rate to offer. For example, if an applicant is refinancing a mortgage after having taken cash out, the lender might consider that an increase in risk and increase the ...
A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
Routine maintenance also costs money -- to use me as an example, I'm looking at forking over $200 to an HVAC technician for a seasonal check of my boiler and radiators.
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Banks tightened their credit standards dramatically during the credit crunch, and lenders now accept only 55% of all mortgage applications, according to 7 reasons banks reject mortgage ...