Does Mortgage Pre-Approval Affect My Credit Score?
If you’re looking to get pre-approved for a home loan, you may be wondering does mortgage pre-approval affect my credit score? The simple answer: not necessarily. In some cases, a “soft inquiry” is...
View Article5 Simple Steps to Closing on a House
You found the perfect home and managed to get your offer accepted. Congratulations! So what happens now? How do you go from contract to close? Here are five simple steps to closing on a home. 1. Get...
View ArticleWhat Would Prevent a House from Closing?
Closing on a new home can be both an exciting and stressful time. While it’s tempting to get the champagne ready, remember, the property isn’t yours yet. With OVM, the most common situation is that...
View ArticleChanging Jobs During the Mortgage Application
You never know when a new employment opportunity will come along. It may have perfect timing, or its timing may be less-than-ideal…like when you’re in the middle of applying for a home loan. If you’re...
View ArticleHow Long Does Mortgage Pre Approval Take?
You’ve started the home-search process and identified some houses you like. Now you’re probably wondering, “How long does mortgage pre approval take?” Preapproval is a critical first step of the...
View ArticleWhat Does A Mortgage Lender Look For?
When deciding who is eligible for a home loan, a lender is looking for four basic things; a stable credit history, an ability to repay the loan based on income, how much the down payment will be, and...
View ArticleHow Long Does Closing On A House Take?
Hearing the words, “Your loan is ready to close,” is something that everybody wants when they have chosen their dream home and are waiting so they can sign on the dotted line and move in. If you’re...
View ArticleHow Does A Mortgage Work?
If you ask the average person what a mortgage is, they will likely tell you that it’s a loan for a house. However, most people probably couldn’t tell you much more than that. To put it simply, a loan...
View ArticleDo Mortgage Companies Require Inspections?
If you’re thinking about buying a new home or perhaps have already found one you’re interested in purchasing, you may be wondering, “do mortgage companies require inspections” as part of the mortgage...
View ArticleDoes Having a Loan Affect A Mortgage Application?
If you’re getting ready to buy a new home and start the process for getting a mortgage, make sure you assess your credit status before you get started, and that includes taking stock of existing...
View ArticleDo All Mortgage Applications Go to Underwriters?
You’ve found your new home, signed a contract, and are about to go through the mortgage loan process. Your mortgage loan will likely take about 20-30 days to process, depending on the complexity of...
View ArticleHow Long Does It Take to Get a Loan Approved?
Perhaps you’ve just relocated to a new city, are hoping to move into a larger home as you welcome a newborn into the world, or have just put your current home under contract. No matter the...
View ArticleHow Much is the Application Fee for a Mortgage?
Applying for your mortgage loan is one of the first steps of the mortgage process. And many lenders will charge you an application fee when you apply. But at OVM Financial, we believe home buyers...
View ArticleDoes Age Affect Your Mortgage Application?
If you’re in your early 20s and applying for your first mortgage loan or a senior homebuyer looking to purchase the residence where you’ll spend your twilight years, you may be wondering if age...
View ArticleWhat Does A Conditionally Approved Loan Mean?
If you’ve begun shopping for a new home and started working with a loan officer on the mortgage loan process, you likely know loan preapproval is key to making a solid offer on a house and to ensuring...
View ArticleNCHFA Offers Down Payment Assistance For NC Home Buyers
North Carolina residents have a champion which offers affordable housing products through approved mortgage lenders. The NC Housing Finance Agency, also known as NCHFA, helps bridge the gap towards...
View ArticleWhat Happens if Your House Doesn’t Close by the Closing Date?
When a closing date is set, it’s likely that your home will close according to plan. However, there are sometimes issues that can arise that delay a house purchase and prevent it from closing on time....
View ArticleDoes Credit Score Affect Mortgage Preapproval?
The time has come. You’ve worked hard on budgeting your money, saving for the future, and you’re finally ready to start shopping for a home. One of the first steps you’ll want to take in the mortgage...
View ArticleProperty Eligibility Requirements for USDA Loans
If you’re making plans to relocate to a rural community or live in one already and are looking to purchase a new home, make sure to consider USDA loan programs as you explore mortgage financing...
View ArticleUSDA Rural Home Loans
When thinking about purchasing a home, the first thing to consider is the location of the property. Do you want to live in a bustling city with amenities such as shopping, nightlife, restaurants, and...
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