06 Oct 2022
By 24hr Mortgage

What Are Conditional Approvals?

Mortgage, ,
As you take a look at potential houses for sale, what does it mean if you see a house with a conditional approval? Does that mean you can swoop in and purchase the house with a better offer? Even though a conditional approval doesn't mean that the sale is guaranteed to go through, it does mean that an agreement is in place. An Overview Of A Conditional Approval A conditional approval is an informal acknowledgement that an agreement is in place between a buyer and the lender; however, the lender typically has to collect additional financial information to show that…
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05 Oct 2022
By 24hr Mortgage

Using Your Equity To Buy Another House: What To Consider

Mortgage, ,
Buying a home is a dream that many people want to make come true. At the same time, many people dream of buying a second home. Perhaps you are looking for a rental property. Maybe you are looking for a vacation home. Regardless, you might be wondering how you can come up with the necessary cash to finance this dream. You might even be thinking about tapping into the equity in your current home to make that happen. It could be your down payment for your second house, but what do you need to know? How To Get A Home Equity…
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04 Oct 2022
By 24hr Mortgage

How Your Home Equity Can Help You Reach Your Retirement Goals

Mortgage, ,
If you plan on retiring soon, you are probably looking at a few options that can get you over the hump. You are probably excited to start a new phase of life. With a record number of people closing in on their retirement age, many are starting to assess their resources to make sure they have enough money to last them for the rest of their lives. If you already own a home, you might be able to tap into your home equity to help you fuel your retirement. Your Home Has Probably Gone Up In Value Your house is…
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27 Sep 2022
By 24hr Mortgage

How Can You Invest in Real Estate?

Mortgage, ,
Many people believe that investing in real estate is something reserved only for the super-wealthy. In reality, this is not the case. Investing in real estate is a smart idea because property can generate a consistent cash stream while providing significant capital appreciation combined with tax breaks. There are multiple ways to invest in real estate, and no single path is better than the others. Consider Real Estate Investment Trusts (REITs) A real estate investment trust is a low-cost alternative to buying an entire property. Usually shortened to REIT, this is a company that allows investors to pool their money…
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21 Sep 2022
By 24hr Mortgage

Non-QM Home Loans: How Do They Work?

Mortgage, ,
There are a lot of people who dream of owning a home one day, but few people have the cash to purchase a home outright. Therefore, you will probably need to take out a loan to buy a house; however, what happens if you cannot qualify for a loan with the traditional loan requirements? If you are not a W2 employee, you may need to go with a Non-QM loan. What do you need to know? What Is A Non-QM Loan? A Non-QM loan is a non-qualified mortgage. What this means is that you do not meet the standard requirements to…
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15 Sep 2022
By 24hr Mortgage

What To Know About Your Debt-To-Income Ratio When Buying A Home

Mortgage, ,
When you apply for a mortgage, your lender will do some quick math to figure out how much of a loan you can afford. Your lender will consider many factors, and one of the most important ones is your debt-to-income ratio. It is usually shortened to DTI, and understanding this formula can help you better understand how big of a house you can afford.  An Overview Of A DTI Your DTI represents the amount of money you spend compared to the amount you make. Your lender is going to have very strict DTI requirements when deciding whether you can be…
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