Why Mortgage Pre-Qualification Falls Short
In the realm of home loans, a mere “pre-qualification” often proves insufficient. While it provides a glimpse into your financial standing based on self-reported information, it lacks the comprehensive verification of your income and assets required for true approval. This cursory assessment, while convenient, leaves you vulnerable to losing out on your dream home as […]
How Much Mortgage Can You Afford If You’re Self-Employed?
Estimating how much of a mortgage you might qualify for is a relatively easy process with online mortgage affordability calculators. However, these calculators assume one major thing: that you are an employee of a company that provides you a consistent, standard paycheck and a W2 tax form at the end of the year.
Mortgage Loans for 1099 Employees: How to Get a Mortgage When You’re Self-Employed
Traditionally, self-employed individuals — also referred to as 1099 employees — have faced challenges in securing a mortgage loan to finance the purchase of a home or refinance an existing mortgage loan. But now, the increased pervasiveness of self-employment and the gig economy have influenced lenders’ attitudes to make mortgage loans for 1099 employees easier to access.
Unlock Your Dream Home: 5 Compelling Reasons to Use Revve for 1099 Contractors
Meet Revve – your ultimate partner in streamlining the mortgage qualification process. Here are the top five reasons why using Revve beats applying directly to a lender.
Overcoming Mortgage Challenges: A Guide for 1099 Contractors
From fluctuating income to documentation requirements, navigating the mortgage process can feel daunting. However, with careful planning and strategic steps, you can overcome these challenges and turn your homeownership aspirations into reality.
Steps to Qualify for a Mortgage for 1099 Contractors
In an ever-evolving world, the art of qualifying for a home loan are tried and true. Here are our basic steps to qualify for a mortgage.
Who Financial Institutions are Leaving Behind
Challenges in lending are a given, but it’s our response to them that defines our trajectory. Looking beyond the immediate obstacle, there lies a realm of opportunity and learning.
The History of Discrimination in Lending
Everyone has a unique potential waiting to be tapped. However, the history of discrimination in lending has held some of us back.
Home Mortgage Disclosure Act (HMDA): Protection for Borrowers
The Home Mortgage Disclosure Act (HMDA) is a federal law that requires mortgage lenders to keep records of key pieces of information regarding their lending practices.
The Social Structure of Mortgage Discrimination
What fosters effective teamwork? It’s not just about grouping individuals together and hoping for the best. It’s about cultivating an environment where trust, open communication, mutual respect, and a shared vision converge.