7 Things An Idaho Real Estate Agent Should Know About Mortgage Approval

While many experienced Idaho real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, property type,..

Idaho Mortgage Loan How Much Can I Afford?

How much Idaho mortgage money can I qualify to borrow? This is typically the number one question Idaho mortgage professionals are asked by new clients. Of critical importance when considering Idaho mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for..

Is There A Rule-of-Thumb Regarding The Number Of Credit Lines To Have Open?

While the actual credit score has a big impact on a loan approval, it's not the only component of the credit scenario that underwriters consider for a mortgage approval. Since loan programs, individual lenders and mortgage insurance companies all have their own credit report restrictions, it's difficult to define a standard Rule-of-Thumb to follow. However,..

Alternate Sources For Establishing Credit

While the basic Rule-of-Thumb for acceptable credit history is a minimum of four trade lines documented on a credit report, there are alternative methods of building a credit picture that an underwriter can use to make a decision for a loan approval. For potential home buyers with little or no credit history, keeping records for..