Mortgage 1 Team, Author at Mortgage 1 Inc.

July 27, 2018

New Condo Financing Options

New Condo Financing Options Mortgage 1 has expanded the guidelines their Condo financing options. A condominium complex can be grouped into one of two mortgage categories warrantable and non-warrantable. A condo complex is considered non-warrantable when they fail to meet criteria by Fannie Mae and Freddie Mac to […]

July 20, 2018

What is Fannie Mae’s HomeReady Program?

HomeReady Program The HomeReady mortgage program is able to save home buyers thousands of dollars on the initial costs of purchasing a new house. It allows for a low down payment, large seller concessions, and financing through other programs, all of which benefit the average […]

July 19, 2018

Opening Doors for Entrepreneurial Mortgage Borrowers

Mortgage 1 Inc. now offers entrepreneurs an option for getting a loan even though it can be difficult to document their income. Income verification can be the biggest challenge for self-employed borrowers. Our underwriters now have the ability to use 12 or 24 months of […]

June 29, 2018

Loan Terminology

Loan Terminology can be confusing. Here is a list of terms that are used in the mortgage industry that may not be used in everyday life. Amortization Amortization is the payment of a debt in equal installments of principal and interest. Appreciation Appreciation is the […]