The Mortgage Porter Weekly | Inflation Cools, Stubborn Mortgage Rates & Asset-Based Mortgages
When Can I Buy a Home After Bankruptcy?
This is a question I get more often than you’d think, and the answer surprises most people: a bankruptcy doesn’t permanently disqualify you from getting a mortgage and depending on the type of bankruptcy you filed and which loan program you use, you may be eligible sooner than you’d expect — in some cases, before your bankruptcy is even fully discharged.
The two things that determine your timeline are which chapter you filed and which loan program you use. Let’s break both down. [Read more…]
What Was Subprime Lending and Why Non-QM Isn’t a Repeat
If you weren’t buying or refinancing a home in the mid-2000s, “subprime” might just be a word you’ve heard in passing — usually attached to the phrase “mortgage crisis.” If you were around back then, you probably remember it very differently: as a borrower who got a loan you probably shouldn’t have, as a homeowner watching your neighborhood fill with for-sale signs, or — in my case — as a loan officer watching an entire segment of the industry implode in real time. [Read more…]
The Mortgage Porter Weekly | Mortgage Rates, Middle East & Non-QM Mortgages
It’s the first week of June! Here is this week’s Mortgage Porter Weekly.
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How Self-Employed Income Is Viewed for a Mortgage (And Why It’s Not as Hard as You Think)
If you’re self-employed and thinking about buying or refinancing a home in Washington State, you’ve probably heard something like: “It’s really hard to get a mortgage when you work for yourself.” That’s partly true — but it’s not the whole story.
The reality is that self-employed borrowers have more mortgage options today than ever before. The key is understanding how different loan programs view your income and finding the one that best fits how your finances actually look on paper.
Here’s a clear breakdown of what to expect. [Read more…]
