Home Buying
Credit Score Requirements for Attorney-Specific Mortgages
Despite the credit score requirements for attorneys, Attorney Mortgage can help you qualify for a loan. However, it is important to understand the Fair Credit Reporting Act, what your credit score consists of, why you should take steps to improve it, and how you can begin the process. The Fair Credit Reporting Act The Fair…
Read MoreHow Attorneys Can Prepare for an Interest Rate Change
Potential home buyers often wait for interest rates to drop before they apply for pre-qualification. Mortgage rates may fall into a normal pattern this year after several years of highs and lows in the housing market. So how can you prepare for an interest rate change? Attorneys shopping for a new home are able to…
Read MoreHow Banks and Government Insurers Affect Attorney-Specific Loans
Mortgage rates change all the time – sometimes daily. Economic or political climate, supply and demand of property, and other events can make rates fluctuate. Your credit score, income, available cash for down payment, or your debt-to-income ratio can play a role in getting the best possible interest rate for your home loan. But mortgage…
Read MoreSecuring a Mortgage as a Solo Practitioner: Tips and Challenges
Securing a mortgage as a solo practitioner or a self-employed attorney is possible, but it might require a few extra steps. Attorney Mortgage can help you prepare and manage the approval process for a home mortgage. Self-employed vs Employed Mortgage lenders typically ask for verification of income, such as the last two years worth of…
Read MoreComparing Portfolio, FHA, VA, and Conventional Loans for Attorneys
If you are a newly degreed attorney beginning a search for your first home, you may find loan choices to be confusing. What loan type is the right one? Attorney Mortgage can help with these decisions and has access to all of the loans below. The top three options are conventional loans, FHA loans, and…
Read MoreShould I Buy a House on Short Sale?
Home sellers are sometimes motivated to sell a home because of financial difficulties, divorce, or the death of a partner or spouse. If they are lagging behind on mortgage payments, they may look at a short sale option instead of facing foreclosure. According to a Statista report, about 0.23% of American homes were in foreclosure…
Read MoreDo Attorneys Need a Real Estate Title Attorney for a Home Purchase?
Purchasing a home does not just involve the buyer and the seller. A real estate title company/attorney may be involved in your home buying journey, ensuring a clear and unencumbered title to the home in question. If you are a newly degreed attorney, an established attorney looking for a first home, or if you are…
Read MoreDo I Need an Appraisal When I Buy a New Home?
When you get ready to buy your new home, a home appraisal is part of the loan approval process. If you are a newly degreed attorney, an established attorney looking for a first home, or if you are ready to refinance your home, Attorney Mortgage can help you understand the residential appraisal. What is a…
Read MoreDo I Really Need a Home Inspection?
After you find the home you like, and your offer to purchase is accepted, your real estate agent will talk to you about your home inspection. This is typically scheduled as quickly as possible. Attorney Mortgage recommends a home inspection as this will help ensure that there are no major problems with your new home. …
Read MorePrivate Mortgage Insurance and Attorneys: How Does It Affect You?
If you are offering a down payment of less than 20% of your home’s purchase price, private mortgage insurance, or PMI is usually a required expense. Private mortgage insurance protects the investor from financial loss if you stop making mortgage payments, or if you fail to pay off the loan. How Does PMI Affect Attorneys?…
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