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How can I apply for a conventional mortgage?

Question: What does applying for a conventional loan mean? Is it a federally-insured loan? Can you get a conventional loan when you first buy a home and when you refinance? Answer: “Conventional– loans are mortgages that meet certain standards established by big loan buyers such as Fannie Mae and Freddie Mac. Fannie Mae and Freddie [...]

3Sep2008 | | 0 comments | Continued
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Is Bonus Income Okay With Lenders?

If bonus income is steady and expected to continue, generally yes. For details and required paperwork, speak with loan officers. Be sure to ask about verification requirements. Technorati Tags: bonsu, income, mortgage, overtime, qualification, qualify, verify

30Aug2008 | | 0 comments | Continued