Tagged : applying for a mortgage

Found 2 blog entries tagged as "applying for a mortgage".

The mortgage underwriting process is essential to verify income and ultimately determine whether the loan is approved or not. In addition to examining your income, the underwriter will also dive into significant events such as recently graduating from school, switching careers, or starting a new business.  

Because the amount of money being loaned is substantial, the verification process can be tedious and requires plenty of documentation to get it done.

This overview will give you an idea of what to expect during the underwriting process to better prepare for it. Have specific questions about underwriting? Contact Steadfast Mortgage!  

What are the income requirements when applying for a loan?

When applying for a loan, the question is

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Ever wonder why it's essential to keep your debt in check when applying for a mortgage or what debt matters to your approval? This article will help you answer these fundamental questions so that you're in a great position to get approved for a home loan.

All About Debt-To-Income Ratio (DTI)

Your debt-to-income ratio (DTI) is one of the most critical metrics lenders use to determine how much home you afford because it directly influences the monthly payment you can qualify for.

DTI is a ratio that compares your existing monthly payments with your gross monthly income before taxes. Depending on the mortgage program and your qualification metrics, two types of calculations are used in mortgage qualification: 

  • Front-end DTI -looks at the
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