You have found your dream home and you are eager to get a mortgage, move into the property and start enjoying life there. However, there is only one problem standing in your way â the fact that you have been through some hard financial times in the past.
As lenders tighten mortgage guidelines for home buyers, minimum down payment requirements are increasing.
A mortgage loan approval is never final until it’s funded. And that means after you’ve signed the final paperwork and the bank has wired funds to escrow.
Are you applying for a mortgage on your home? Keep in mind that a mortgage is a major financial decision and choosing one will have a significant impact on the rest of your life.
What happens if you go through a tough financial period and you find yourself behind on your mortgage payments for your home?