Tag Archive for: pre-approval

Actions To Avoid After Getting Pre-Approved

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A pre-approval is a way to be a step ahead when it comes to house hunting. It is a requirement for all homebuyers who plan to use a mortgage loan to finance their purchase. Over the years, we have seen hundreds of borrowers knock themselves out of qualifying range after getting pre-approved.Read More

Mortgage Lending Is Extremely Difficult Again (New Loan Products Galore) – And I Could Not Be Happier

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In the 1990s and early 2000s, there were hundreds of loan products – with thousands of guidelines to remember – and it was brutal! This was, however, a huge boon […]Read More

Using a Mortgage Calculator for Buying a Home in Oregon

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If you're looking for a free mortgage calculator tailored to Oregon's housing market, look no further. Our Oregon mortgage calculator at JVM Lending is designed specifically to provide you with the most accurate estimates for your Oregon homebuying journey.Read More

How Much House Can I Afford? A Guide to Home Buying

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Wondering how much house you can afford? Dive into our comprehensive guide covering everything from mortgage basics and down payments to credit scores and debt-to-income ratios. Gain the knowledge you need for a confident and informed home purchase journey.Read More

How Much Income Do You Need To Buy A $1 Million Dollar Home

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The subject line for my blog is a common topic that lenders use for consumer blogs for search engine optimization (or “SEO” - or an entity’s efforts to draw readers to its website). And, here is the answer to the question: You need anywhere from $100,000 to $300,000 in income to buy a $1 million dollar home right now.Read More

Unlocking Higher Home Loan Pre-Approvals

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Have you ever wondered, "How much do I qualify for when it comes to a mortgage or home purchase?" If you're looking to buy a home, you might have already stumbled upon the term 'pre-approval.' This blog will guide you through enhancing your pre-approval amount and preparing you for the journey towards your dream home.Read More

When Do Mortgage Pre-Approval Letters Expire?

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There is a lot of work behind the scenes for a mortgage pre-approval when you are buying a home. While you, as a borrower, are just submitting an application and some financial documentation, loan officers are carefully reviewing your entire financial profile to ensure you qualify for a specific loan program. This includes a review of your income, assets, credit, and possibly more to determine the approved loan program, loan amount, and available interest rate.Read More

Is Tech Taking Over Real Estate and Mortgages?

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I have a very successful friend who owns a mortgage bank, and who still originates loans just to stay in the game. He spent six months pre-approving, educating and counseling […]Read More

How To Get Pre-Approved For A Mortgage

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A pre-approval is a way to be a step ahead when it comes to house hunting and a requirement for all homebuyers who plan to use a mortgage loan.Read More

Pre-Qual Letter vs. Pre-Approval Letter; Difference, When & Why

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Full pre-approvals, however, require many hours of effort, as we go through every document with a fine-toothed comb to make sure no issues arise once borrowers are in contract (we want to make sure our pre-approvals are deemed “as good as cash” at all times). More complex jumbo loan pre-approvals may require multiple third-party verifications from employers and landlords, which can add even more time to the process.Read More

How Much Can I Borrow For A Home Loan

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It is crucial for a homebuyer to understand how much you can borrow when you applying for a loan. This question is one of the biggest on every potential homebuyer's mind. The answer will determine where you will look for homes, what you can offer, and how much you'll have to save.Read More

HELOCs Fading; Jumbo Rates Way Higher; FAQs

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Two of the nation’s largest banks announced that they will no longer originate new Home Equity Lines of Credit (HELOCs). This is of course in response to the COVID-19 crisis.Read More

5 Tips For Buying an Austin Foreclosure

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In traditional Texas real estate transactions, Austin homebuyers work directly with the property sellers and their agents. Homebuyers will typically present an offer directly to the seller and their agents to purchase the property.Read More

Understanding Your Debt-To-Income (DTI) Ratio in Dallas

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Lenders use a debt-to-income (DTI) ratio to determine how much income a borrower needs to fund their purchase or qualify for financing. Most lenders in Dallas, Texas, recommend that borrowers stay within a 45% - 50% DTI limit.Read More