Sentences with phrase «income as a mortgage broker»

Not exact matches

The banks and mortgage brokers, however, knew these were unqualified buyers, as their inside jokes about liar loans and Ninja loans (no income, no job or assets) attest.

Any initial conversation with a broker or loan officer should include specifics about what you want in a mortgage — as well as what you're bringing to the table in terms of down payment, debt - to - income ratio and credit score.

As a mortgage banker and broker, we have access to many lenders, and are able to shop for the most flexible credit scores and debt - to - income ratios on the market.

Any initial conversation with a broker or loan officer should include specifics about what you want in a mortgage — as well as what you're bringing to the table in terms of down payment, debt - to - income ratio and credit score.

By providing your mortgage broker with some basic personal and financial information, such as your income, employment history and how much you've saved up towards a down payment, they'll be able to take that information to the lender and get a mortgage preapproval.

An individual, who has an employment relationship, acknowledged by both the individual and the mortgage broker or mortgage banker and is treated as an employee for purposes of compliance with the federal income tax laws.

To qualify for a stated income loan (sometimes call ed a liar's loan) the mortgage broker use the income the borrower states on the application form — as opposed to the income the borrower can document.

Do not let a mortgage broker put you in a «low doc» or «no doc» loan if you do not make enough money (using the lenders prescribed debt to income ratio as a benchmark) to make the mortgage payment.

As discussed more fully in the section - by - section analysis of § 1026.2 (a)(3) above, under current regulations, the receipt of the following information by the creditor or mortgage broker constitutes receipt of an «application»: (1) Borrower's name; (2) borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the creditor.

As discussed more fully in the section - by - section analysis of § 1026.2 (a)(3), under current regulations, the receipt of the following information by the creditor or mortgage broker constitutes receipt of an «application»: (1) Borrower's name; (2) borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the creditor.