First Lien HELOC’s Post

Ability to repay is a rule from the Truth in Lending Act. Here’s how the CFPB defines it: “The reasonable and good faith determination most mortgage lenders are required to make that you are able to pay back the loan. Under the rule, lenders must generally find out, consider, and document a borrower’s income, assets, employment, credit history and monthly expenses.” Mary Christ, Mortgage Officer 📱 (480) 797-7664 #MaryChrist #MortgageOfficerAZ #MaryChristRealEstate #AZMortgages #mortgageloanofficer #AZliving #azhomeowner #financing #realestateinvesting #lenders #mortgageloans #homesweethome #homebuyer #dreamhome #mortgagebanker #financialfreedom #realestateinvestor

Ability to repay is a rule from the Truth in Lending Act. Here’s how the CFPB defines it: “The reasonable and good faith determination most mortgage lenders are required to make that you are able to pay back the loan. Under the rule, lenders must generally find out, consider, and document a borrower’s income, assets, employment, credit history and monthly expenses.” Mary Christ, Mortgage Officer 📱(480) 594-7395 #MaryChrist #MortgageOfficerAZ #MaryChristRealEstate #AZMortgages #mortgageloanofficer #AZliving #azhomeowner #financing #realestateinvesting #lenders #mortgageloans #homesweethome #homebuyer #dreamhome #mortgagebanker #financialfreedom #realestateinvestor

What are Hard Money Lender? Hard Money are typically mortgage/commercial loan lenders that take on scenarios that banks and traditional lenders are not willing or unable to finance. Examples include borrowers with low credit scores, borrowers that unable to provide tax returns, borrowers that meet debt to income requirements, and properties that require extensive improvements. However it can be challenging to find a Hard Money Lenders that is willing to finance owner occupied properties, finance 75% of the purchase price, and take on borrowers with less than 620 fico. Thankfully we work with many lenders that are willing to take on these types of scenarios!! Direct message me for any questions. #commericalrealestate #mixedusedevelopment #californiarealestate #mortgage #mortgagebroker #realestate #realtorsoflinkedin #hardmoneyloans #hardmoneylender #interestrates

Mortgage Myths The four big banks are generally the best choice for a home-buyer Traditionally, the big 4 lenders have dominated the lending landscape, though almost by the day, consumers are looking to alternative lenders who match their personal borrowing needs. With an extensive lending panel, we are also noticing more and more of our clients are choosing other reputable lenders to borrow from based on personal choice and lending needs. #mortgagemyths #JEMFinanceGroup #mortgage #homeloans #finance

Mortgage Myth No one will give you a loan if you failed to get a loan from a bank. If you have gone direct to a local branch and they declined your application, it doesn't mean you can't qualify. All lenders have their own policies that influence whom they lend money to, which is why it's important to find a lender that has an appetite to lend money to you, based on your personal circumstances. With direct access to more than 25 different lenders, contact us to see which lender will work best for you. #mortgagemyths #JEMFinanceGroup #mortgage #homeloans #finance

Mortgage Myth No one will give you a loan if you failed to get a loan from a bank. If you have gone direct to a local branch and they declined your application, it doesn't mean you can't qualify. All lenders have their own policies that influence whom they lend money to, which is why it's important to find a lender that has an appetite to lend money to you, based on your personal circumstances. With direct access to more than 25 different lenders, contact us to see which lender will work best for you. #mortgagemyths #JEMFinanceGroup #mortgage #homeloans #finance

Mortgage Myth "Only the amount owing on a credit card will affect your borrowing capacity" Lenders assess the upper limit of your credit card as 'debt' regardless of how much you have owing. So, if you have a $10,000 credit card limit, even though you only spend $500 each month, the $10,000 limit will affect how lenders assess your serviceability - so you might consider lowering the limit on your card to give you more borrowing capacity. #mortgagemyths #JEMFinanceGroup #mortgage #homeloans #finance

Are you looking for a property loan but struggling with the major lenders? AA Finance Solutions might have the answer for you. This week's blog post looks at short-term mortgage lender Funding, and how their loan options could benefit you. Click on the link below to read the full article: https://lnkd.in/gbKMv9ei #mortgage #canningvaleperth #finance #homeloan #funding

Breaking the myths about deposits! 💰 Mortgage lenders might not accept a loan as a deposit, but guess who does? Bridging lenders! 🏡 Why? Mortgage and bridging lenders see things from opposite perspectives. Bridging lenders are the go-to when doing deals with none of your own money. Whether borrowed from individuals or through a personal loan, as long as it's legal, bridging lenders are on board. 🌐 Ready to explore new possibilities in property? Join me every Monday on Facebook, YouTube and LinkedIn for a live all-things-property Q&A! 🚀 #NoMoneyDown #BridgingLoans #PropertyInvesting

Why do 75% of home loans go through a mortgage broker vs the bank? Because people know us brokers have access to a wide range of lenders and products, giving them more options and flexibility. Or it could be the personalised service and professional guidance we provide. Don't settle for one-size-fits-all, speak with us for your finance needs. Book a chat today: https://bit.ly/42vYv1j #lisabridgett #stellarfinancegroup #bankonabroker #financeexpert #sydneyproperty #mortgage #mortgagebroker #homeloans #finance