Becca Rose

Oct 11, 2024 | marketwatch.com | David Gregory |Becca Rose

If you’re self-employed and interested in homeownership, it may be difficult to get approved for standard financing options to buy or refinance a home. Most traditional mortgages require tax returns or pay stubs to prove income. If you don’t have typical income documentation, you may need to consider alternative mortgage options, such as a bank statement loan.

Aug 30, 2024 | marketwatch.com | David Gregory |Becca Rose

If you don’t qualify for a conventional mortgage to buy a home, you might consider a portfolio loan. With a portfolio loan, mortgage lenders hold onto the loans themselves instead of selling them on secondary markets. This allows for increased flexibility due to the more lenient underwriting standards, but it also means more risk for the lenders. This increased risk typically leads to higher fees and interest rates on these loans.

Aug 29, 2024 | marketwatch.com | Paul Underwood |Becca Rose

A mortgage will likely be your biggest monthly expense and could be with you for decades, so you’ll want to compare mortgage offers from multiple lenders to find the lowest possible rate. But if you aren’t careful, shopping around could negatively affect your credit score. Understanding and having a game plan for how to shop for mortgages can prevent unnecessary dings to your credit score.

Feb 5, 2024 | marketwatch.com | Becca Rose |David Gregory

Generally speaking, the process of using a home equity loan to buy land is fairly straightforward. You take out a loan backed by the equity you have in your property, then use that money to buy the land you’re seeking. You have two main options to do this: A home equity loan and a home equity line of credit (HELOC). A home equity loan is a type of loan that allows you to borrow funds by tapping into the equity you have in your home.

Dec 12, 2023 | marketwatch.com | Becca Rose |David Gregory

A home equity line of credit, or HELOC, is a line of credit that allows you to tap into the equity you have in your home. Typically, HELOCs allow you to borrow up to a percentage of the difference between your home’s market value and your outstanding mortgage balance. Many homeowners use HELOCs to increase the value of their home through home improvements. Part of getting the most out of your HELOC is getting the best possible rate.