BlogTalkRadio.com - Real Estate Talk with Scott Nelson - Mortgages - This weeks episode notes
Another great show this week, special thanks to Elisa Balboni of Mid-Island Mortgage for the great discussion on mortgages. Amazing how fast 1 hour flies by. We'll be having part 2 of the show soon to continue on about mortgages. It's such a detailed subject that 1 hour isn't enough. Here's the link to part 1 of the show:
Here's the show notes on topics we discussed.
Elisa can be contacted for further info and details at:
Mid-Island Mortgage Corporation
400 East Cummings Park
Woburn, MA 01801
First Consideration in applying for a mortgage are the Income Requirements:
• W2'd Employee
• Owning your own business/partner of a business
• Another income source is Social Security, disability or pension income
• Can Second job income be used to qualify?
• How will changing jobs effect an ability to qualify?
The Second Consideration in applying for a mortgage are your Assets, money reserves:
• Acceptible sources of assets
• Is a gift an acceptable source of my downpayment?
The Third Consideration in applying for a mortgage is your credit:
• Ways to improve your credit
• Charge Offs/Collections
• Credit inquiries
• Bad Credit