Documentation type (Doc Type) and loan to value ratio’s go hand in hand. Documentation type is the manor in which you will prove your income that determines your debt to income ratio (DTI). If you are not familiar with what a debt to income ratio is you should take a minute to review this short debt to income summary to figure your debt to income ratio. It is very important when determining documentation type. (more…)

Many deals have been killed by a loan officer over looking this simple little check box on the 1003 (Standardized Uniform Residential Application). The fact is, we often forget that lenders are holding our home as collateral, and more times than not own more of the house than the borrowers do. Lately, lenders have become more and more skeptical about the type of property they choose to hold as collateral for these loans.

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Who Wins When Lenders Compete?

Long ago mortgage websites on the web were merely placards and billboards for brick and mortar established mortgage companies and were very rarely seen. A little known company called Lending Tree changed mortgages online and offline forever with their revolutionary approach to mortgages. It is nothing short of miraculous how many mortgage companies have since then adapted the Lending Tree business model as their central point of contact with their customers. (more…)