Stephen Katz Mortgage Blog

By
Mortgage and Lending - Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
RECENT BLOG POSTS
It is a deposit paid toward the purchase of a home, to illustrate to the seller how serious you are about buying the property. Why Are They Needed? Because sellers have a lot on the line when selling their house, they want to ensure buyers are serious when making an offer to buy. The exercise of ...
10/09/2014
Many Americans, including myself, carry a small and manageable amount of credit card debt. There is nothing wrong with this. It is when you have an excessive level of debt in relation to your monthly income, that you can hurt your chances of getting approved for a mortgage loan. Mortgage lenders ...
10/02/2014
This ratio can make or break your loan approval, as it is one of the largest qualification criteria used for home loan applicants. When you apply for a mortgage, one of the first things the lender will do is check your debt-to-income ratio, or DTI. As the name implies, this is a comparison betwee...
09/30/2014
There are two basic types of coverage. The first type is private mortgage insurance (PMI) policies, which are applied to conventional home loans. The federal government does not insure Conventional or “regular” loans. The second type is for those borrowers who use government-insured FHA loans. Th...
09/25/2014
As a home buyer, you should be concerned with the amount of credit card debt you have as it can directly affect your ability to get a home loan. In fact, having too much debt can hurt you in two ways during the mortgage process: It can lower your credit score, which in turn reduces your ability t...
09/16/2014
It is important to follow all the steps in the correct order when considering purchasing a house. Inventory is currently tight, which means the market is good for sellers, and a little bit more difficult for buyers. In this market buyers have to be on top of their game when choosing a house; if t...
07/29/2014
As a first time homebuyer, it’s important to take the time to research and plan every step of the home buying process. From confirming that you are financially ready down to making the final offer, here are a few things to keep in mind that may help you along the way. 1. Get (and Stay) Organized ...
05/09/2014
Aside from it being spring cleaning season, it’s also moving season. At the end of the school year, everyone is scrambling to move and get settled. I jokingly call it "Christmas Season" for professional organizers. Why? Because you don't know what you are getting yourself into when you arrive to ...
05/06/2014
Prequalification begins when you speak with a loan originator who calculates your debt ratios to find out how much money you can afford to borrow and repay. Before you make your call to a loan originator, you’ll need to be ready to answer the following questions: How much money do you make every ...
04/16/2014
Most people have a pretty good idea of their credit standing and whether or not they have good or, credit issues. But the only way to really find out about your credit is to get your hands on your credit report. This will enable you to see the same information a lender will. Many privacy or fraud...
04/08/2014
Rainmaker
68,451

Stephen Katz

Ask me a question
*
*
*
Spam prevention