Questions About Qualifying For a Mortgage

What Does it Mean to "Qualify" For a Mortgage?
How Does "Qualification" Differ From "Pre-Approval"?

What is Meant by "Underwriting"?

How Do Lenders Determine Whether Or Not An Applicant Will Be Able To Repay A Loan?
What Is Meant By The "Housing Expense Ratio"? The "Total Expense Ratio?"
Under What Circumstances May Lenders Be Willing To Raise Their Maximum Ratio Of Housing Expense To Income?
In What Ways Can Loan Applicants Reduce Their Ratio Of Expense To Income To Meet Lender Requirements?
Under What Circumstances Does It Make Sense For Applicants To Pay Off Other Debts Before Applying For A Mortgage?
What Factors Determine the Size of the Down Payment Required by Lenders?
Why Does It Matter To Lenders Where The Cash Required For The Transaction Comes From?

What Is The Difference Between A No-Income-Verification Loan And A No-Ratio Loan?

What Is the Risk in Lying About Your Income on a Stated Income Loan?

Under What Conditions Will a Lender Qualify an Applicant on the Basis of Anticipated Future Income?

Will Rental Income Help Me Qualify if I Rent Out My House During Part of the Year? If I Buy a Second House and Rent Out the First One?

What Is a Temporary Buydown?
Why Is a Temporary Buydown the Most Effective Way to Use Excess Cash to Reduce the Housing Expense Ratios Used to Qualify?

Why Can Alimony Payments Make it Extremely Difficult to Qualify For a Mortgage?

Is It Possible to Qualify Using One Co-Borrower's Income and Another Co-Borrower's Credit?

What Do You Do if, While Waiting For the Purchase to Close, You Lose Your Job?

Why Is it More Difficult For the Self-Employed to Qualify for Mortgages?
What Special Procedures Have Been Designed to Mitigate These Problems?

What Are Documentation Requirements? What Are  the Different Types? How Should Borrowers Make a Selection?
Why Has the Number Proliferated in Recent Years?

If Your Spouse Kept the House When You Split, How Do You Get Your Name Off The Mortgage?
If you Agree to Stay on the Mortgage, How Does it Impact Your Ability to Acquire a New Mortgage?

When One Spouse Brings Debts But No Income to the Marriage, Will the Debts Be Counted in the Qualification Process?

What Are the Major Concerns Lenders Have With Intra-Family Gifts?
How Much of the Cash Required to Close Is An Applicant Allowed to Get From Family Members?
Why Do Lenders Requires That Cash Gifts Be Documented?

What Are the Factors That Determine Whether Cash Is Better Used to Repay Debt or to Make a Down Payment?

Under What Circumstances Will Lenders Ignore Deferred Student Debt?

Is a Dentist a Good Risk? A Student With High SATs? A Non-Resident Alien? A Millionaire?

In Setting Down Payment Requirements, Will Lenders Take Into Account a "Bargain" Sale Price?

What Is a "Primary" Residence?

Under What Circumstances Will Lenders Include an Outbuilding in the Property Value?

Why Is it Very Risky to Purchase Two Properties Simultaneously Financed by Different Lenders?

Why Is it Usually a Bad Practice to Combine Two Properties in One Mortgage?

Can You Qualify for a Mortgage if You Have Only Investment Income?

How Much Help Can a Co-Signer Provide in Qualifying For a Mortgage?

Will Bonuses Allow Me to Qualify For a Larger Mortgage?

Should You Allow a Friend to Put His Name on Your Deposit Account So He Can Meet the Asset Requirements For a Mortgage?

What Are Stated Income Loans? Why Are They Called Liar's Loans?

What Is a Mortgage Pre-Approval Good For?

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