What Are Reserves? Reserves are liquid or near liquid assets that are available to a borrower after the mortgage closes. On every loan transaction, reserves are required to be verified as part of the approval process. Acceptable sources or reserves […]
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Qualifying for a Loan
Should I Unfreeze My Credit During a Mortgage Loan Process?
All Fannie Mae and Freddie Mac loan originators will require that all three bureaus be unfrozen to allow them to pull from a 3. Many borrowers feel that that is only one in unfrozen that will be enough for the lender, Wrong. All mortgage lenders will use a tri-pull [...]
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Debt-to-Income Ratio
When you apply for a mortgage, your lender will analyze your debt ratios, which are also known as your debt-to-income ratios, or DTI. Lenders calculate DTIs to ensure you have enough income to comfortably pay for a new mortgage while […]
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