Tag: <span>#Law</span>

HAVE YOU CONSIDERED ADDING A CO-SIGNER?
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HAVE YOU CONSIDERED ADDING A CO-SIGNER?

Sometimes, you may not be able to qualify on your own. Have you considered adding a co-signer to help you qualify? If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off of the...

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IF YOU CANNOT QUALIFY

Sometimes, you may not be able to qualify on your own, and may ask someone to sign with you to help you qualify. If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off...

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FINANCING AND PLANNED COMMUNITIES

When you finance a condo, there are specific rules the condominium association must meet. Here is the link to the article we wrote on these rules: /category/condominiums/ However, there are many properties that you may know as a patio home, townhome, or even a single family residence, but because of the way the land was...

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APPLICATION QUALIFICATIONS FOR A MORTGAGE LOAN

An adult, pursuant to that state’s laws, can apply for a for a mortgage loan. According to Fannie Mae, “borrowers who are natural persons and have reached the age at which the mortgage note can be enforced in the jurisdiction where the property is located” can apply; there is no maximum age limit for a...

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HOME MORTGAGE DISCLOSURE ACT

You may be asked to provide more information regarding your race and ethnicity when applying for a mortgage loan. Pursuant to the Home Mortgage Disclosure Act (HMDA), lenders collect this information to ensure applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. Applicants are asked their demographic information...

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APPRAISAL REPORT: AS IS-OR-SUBJECT TO

As you know, an appraisal provides an opinion of value of the property, but, did you also know the appraisal contains comments on the condition of the property? An appraiser will comment on the condition of the property based on what they see during their visit. They will not inspect the property like a property...