Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
When applying for a mortgage, lenders carefully assess your income and debt to determine your ability to repay the loan. If you receive or pay child support or alimony, these payments can significantly impact your mortgage qualification. Understanding how they factor into your debt-to-income (DTI) ratio, income calculation, and overall loan approval process can help… Continue reading How Child Support and Alimony Payments Affect Mortgage Qualification
Balancing two jobs or a full-time career with a side hustle can be rewarding, not just for your wallet but also when it comes to qualifying for a mortgage. Lenders recognize that additional income can strengthen your application, but there are specific rules to ensure your income is reliable and sustainable. If you’re wondering whether… Continue reading Can You Use Income From Two Jobs to Qualify for a Mortgage?
Buying a home is one of the biggest financial decisions you’ll ever make, and you want to make sure you’re as prepared as possible. Whether you’re just starting to browse homes or are ready to put in an offer, one of the most important steps you can take is getting preapproved for a mortgage. Preapproved… Continue reading Why Getting Preapproved Before Your House Hunt Is Crucial
When you’re applying for a mortgage, lenders scrutinize several aspects of your financial life to determine your eligibility. One crucial factor that can significantly influence the outcome is your employment history. Consistent and stable employment demonstrates to lenders that you have a reliable income stream, which reduces their risk in lending you money. However, job… Continue reading The Importance of Employment History in Mortgage Approval and How Job Changes Impact Your Chances
Are you dreaming of owning your own home but facing obstacles in securing a mortgage? You’re not alone. Many aspiring homeowners encounter challenges due to factors like credit history, income, or debt-to-income ratio. There is a potential solution that could help you achieve your homeownership goals: a cosigner. A cosigner, typically a family member or… Continue reading The Role of a Co-Signer in Mortgage Applications Pros, Cons, and Alternatives
Have you finally found your dream home after months of searching, and then you are told that the seller has received other offers? No buyer wants to find themselves in a bidding war against another buyer as it is a stressful situation. Being unprepared and not having your finances in order will make it even… Continue reading Speed Your Mortgage Approval up by Following This Checklist
Understanding your credit score is one of the most important factors when applying for a mortgage. Your credit has a major impact on the type of loans you can qualify for, meaning if you have a low credit score, you may have a limited selection of mortgages to choose from. Your credit score can also… Continue reading Tips for Improving Your Credit Score
Congratulations on making the decision to become a homeowner. Buying a home has a lot of benefits such as tax deductions, more privacy, creative freedom, and it serves as a long-term investment. But before you can begin acquiring these benefits of homeownership, you need to figure out where to begin in obtaining a Brooklyn mortgage.… Continue reading The Difference Between Pre-Qualification And Pre-Approval