17
Sep
By Todd Grey
Mortgage Tips, ,

How Buying a Home With Someone You Are Not Married To Changes the Financial Conversation

Buying a home with a partner, friend, sibling, or other person can make homeownership possible sooner and allow two people to combine their financial resources. But when two people who are not married purchase a home together, there are financial conversations worth having before they begin looking at properties. A mortgage may be shared, but income, debts, savings, credit profiles, and expectations about ownership can be very different. Applying Together Means Sharing the Financial PictureWhen two people apply for a mortgage together, the lender evaluates information from both borrowers. That can include income, employment, debts, assets, and credit histories. One…
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16
Sep
By Todd Grey
Mortgage Tips, ,

What Happens to Your Mortgage Options When a Home Does Not Appraise as Expected?

You have negotiated a purchase price, your offer has been accepted, and the mortgage process is moving forward. Then the appraisal comes back lower than expected. For buyers, that can be unsettling, but a low appraisal does not automatically mean the purchase is over. What happens next depends on the contract, available funds, financing, and what the buyer and seller are willing to do. Why the Appraised Value Matters to Your MortgageMortgage financing is generally based in part on the property's appraised value. If a buyer agrees to pay $425,000 but the home appraises for $400,000, the lender does not…
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15
Sep
By Todd Grey
Mortgage Tips, ,

Why the Type of Property You Buy Can Affect Your Mortgage Options

When buyers start thinking about mortgage options, they often focus on their own finances: income, credit, debts, savings, and down payment. But there is another part of the equation that can be easy to overlook. The property itself matters. A traditional single-family home, condominium, manufactured home, multi-unit property, or unusual property may not be treated exactly the same when it comes to financing. A Mortgage Is Secured by the PropertyA lender is not only evaluating whether a borrower can repay the loan. The property securing that mortgage must also meet the requirements of the particular loan program being used. For…
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14
Sep
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – September 14th, 2026

While CPI data has come in within expectations for current inflation, inflation remains much higher than in previous years. The rate is holding steady at 2.4%, which is above the Federal Reserve’s 2.0% target.  There are sectors where cost has seen significant increase and has not been reflected in the CPI due to the more recent changes implemented by the Trump administration. Fuel costs, for example, have seen an upward year-over-year trend that has been exacerbated by the recent war in Iran. The Fed Beige Book and balance sheet have also shown steady growth and an upward trend as of…
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11
Sep
By Todd Grey
Mortgage Tips, ,

How Mortgage Underwriting Looks at Your Financial Picture

Mortgage underwriting can seem mysterious when you are buying a home. You submit documents, answer questions, and sometimes receive requests for additional information without knowing exactly what is happening behind the scenes. Understanding the purpose of underwriting can make this stage of the mortgage process much less intimidating. Underwriting Looks Beyond One NumberA mortgage decision is generally not based solely on your credit score or income. Underwriting evaluates multiple parts of your financial profile to determine whether the loan meets applicable lending requirements.The exact criteria depend on the mortgage program and lender. Income and Employment Are ReviewedLenders need to document…
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