Monday, October 13, 2014

What banks are looking for

- credit score
- credit history
- loan to value - LTV = Outstanding balance on first mortgage / Appraised value or market value of home
- ELOC - Equity Line of Credit, you borrow the equity you have in your house

How to get approved

How to fix bad credit

Short credit history

How much of your own money do you need for downpayment
- 5% for primary residence
- 10% for investment property if you live in it
- 20% for investments property

Maximum of 5 mortgages per person
=> How to come around that?

Send your questions to: auramortgage@gmail.com


1 comment:

  1. We would like to acknowledge the exceptional service that we received during the entire refinancing process. Mr Lee professionalism and knowledge of the loan company was impressive and truly appreciated. Mr Lee is a reliable loan officer.In the past, we have had experience with several others banks and have found the process frustrating and tedious. Mr Lee went above and beyond to ensure that all of our needs were met and that everything was handled thoroughly and efficiently. We have and will continue to recommend him in the future.”Mr Lee Contact Email /Whatsapp 247officedept@gmail.com +1-989-394-3740


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