Reasons for Mortgage Pre-Approval | Income

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #1:  Determining What Income Can be Used  One of the most important elements when applying for a home loan is determine what income can be used to qualify.  Often times a potential home buyer  may feel as if they have know what their current gross income is.  While it is reasonable to agree that a person is … [Read more...]

Reasons for Mortgage Pre-Approval | Disputed Tradelines

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #2: Credit Tradeline Disputes  Given all the changes in mortgage guidelines over the past few years, it is only natural that restrictions related to credit have increased. Oftentimes, a prospective home buyer does not know that certain pieces of information on their credit that seem insignificant can … [Read more...]

Reasons for Mortgage Pre-Approval | Tax Returns

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #1: Tax Returns Contain Unforeseen Hurdles  One critical step The HOUSE Team takes on all applications/pre-qualifications is to request a borrowers most recent 2 years Federal tax returns and/or order the most recent two years Federal tax return validations directly from the IRS for every new loan applicant. … [Read more...]