Articles by Craig Berry - Page 4

Most people cannot buy a house on unemployment. But many can qualify very soon after going back to work. Learn how to get a mortgage after unemployment.

A mortgage letter of explanation may be required if there are red flags on your application. Here's a simple guide to writing a letter of explanation.

Commission income is usually accepted by lenders if you have a 2-year earnings history. See how lenders calculate commission income for mortgage qualifying.

Mortgage underwriting can take days or weeks depending on your lender and application. Here's what to expect from underwriting and what to do about delays.

Here are five ways to pay off your mortgage faster. Plus, what to consider before putting your cash toward early mortgage payments.

Bonuses and RSU income can be used for mortgage qualifying. But they're calculated differently, and not all lenders accept them. Here's what to know.

Here are 16 questions to ask a mortgage lender that will ensure you get the right loan type, lowest mortgage rate, and best overall deal on your home loan.

You're allowed to use investment income for mortgage qualification. Lenders will accept two forms: dividends and interest. Here's how to qualify based on investment income.

A mortgage loan originator is one of the most important people in the home loan process. MLOs create the link between mortgage borrower and lender.

Veterans needing mortgage relief have a right to forbearance under the CARES Act. But for some, the VA IRRRL refinance may be a better option.

Mortgage rates are in a sweet spot right now — still near record lows, with guidelines loosening back up so homeowners can actually qualify for new loans.

A home equity loan lets you tap into your home's cash value. Learn how home equity loans and lines of credit work, and when to get one.

U.S. homeowners could tap millions in home equity to help them through coronavirus financially. Is a cash-out refinance a good idea for you?

Fannie Mae predicts mortgage rates in the record-low territory for the rest of 2020 and 2021. What that would mean for home buyers and refinancers.

Falling mortgage rates might not help borrowers this time . Lenders are pulling loan programs, refusing to lock rates, and raising credit score minimums.

Non-QM mortgages (like jumbo loans and bank statement loans) disappeared from the market overnight. They could be gone for 2 weeks, a month, or more.

Workplace shutdowns make it hard to verify your employment. Does that mean your mortgage application will be denied? Here's what you should know.

The Fed cuts rates to zero, but mortgage rates didn't follow. Now it's up to lenders to decide when to lower rates again.

Record-low mortgage rates came and went. Last week saw a return to 4% rates and increased closing times. Here's what borrowers can do to help their cause.

Buyers and refinancers: Make your mortgage application and loan documents top priority. Record low rates mean big delays as lenders fill up with applicants.