Has the Mortgage Process Changed since the Dodd-Frank Act? - Zing Blog

Things You Shouldn’t Do When Applying for a Mortgage

During the underwriting process, your mortgage company will be examining your finances quite closely to ensure you’re a solid loan candidate. Because of this, it’s important that nothing you do makes your mortgage company question your ability to pay them back. To show them you’re nothing short of their dream loan candidate, here’s a list of things you should avoid doing during the underwriting process.

Continue Reading
Three Sites to Ease Student Loan Pains - Quicken Loans Zing Blog

What Your Student Loans Mean for Your Mortgage

If you’re thinking about buying a home but you have outstanding student loan debt, you’re far from alone – you’re riding in the same boat with 37 million Americans. Quicken Loans Operations Director Lindsay Villasenor said about half of the applicants she sees have some sort of student loan debt on their credit report. If you have student loan debt, it doesn’t mean a mortgage is out of reach.

Continue Reading
Increased Home Equity: Making It Work for You

Increased Home Equity: Making It Work for You

Here’s some good news: After falling through the floor in the aftermath of the 2008 financial crisis, housing prices are finally enjoying a sustained upswing. According to the CoreLogic Home Price Index, year-over-year home prices rose by an impressive 11.8% in 2013, making it the best year for home price appreciation since 2005. According to the Case-Shiller Home Price Index, the U.S. housing market is “on a roll,” with year-over-year gains of over 20% in some parts of the country. After years of fretting, you may now be sitting on some valuable home equity you didn’t even know you had! The question is, how can you harness that increased equity?

Continue Reading
Using Gift Money for Your Down Payment: What You Need to Know

Using Gift Money for Your Down Payment: What You Need to Know

You might think that you can just use whatever financial gifts your friends and family give you for your down payment, but it’s not as cut and dried as you might think. When you’re qualifying for a mortgage, the source of the funds in your bank account will matter just as much as how much money you actually have. Here’s what you need to know if someone’s given you money to put toward your down payment.

Continue Reading