Blog

August 8, 2017

Why do I need a Real Estate Appraisal?

One of the most confusing aspects of obtaining a mortgage can be the appraisal process. Most people think that because a home sold for a certain price, that price must be equal to the value of the home.  The truth is the “sale price” has […]
July 26, 2017
Minimum Mortgage Credit Score

What is the Minimum Credit Score a Borrower needs to Obtain a Mortgage?

Many potential home shoppers may feel that their credit score is not up to snuff to become homeowners.  The truth is you can actually get a mortgage in some cases moderate, low and even no credit score at all. Wondering what’s the minimum FICO® score […]
July 20, 2017

Hassle Free Mortgage Process, Mortgage in a SNAP!

Have you been wondering how much house you can afford? Well, now you can find out based on your specific situation instantly with Mortgage 1’s “Mortgage in a SNAP.” It is a mortgage application without the hassle. You just plug in your information and one […]
July 14, 2017
DTI

What is the Debt-to-income ratio?

Most people never think about their debt to income ratio but it is a major factor in qualifying for a mortgage.  It is calculated with a simple math equation; Debt = the total of monthly debt payments (usually excluding utilities and property taxes) Income = […]