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As a self-employed individual, there are a few things you need to know in order to calculate your income for a mortgage loan. The first thing you need to do is get an idea of your average monthly income over the past two years. This can bedone by looking at your tax returns, bank statements,…

When it comes to the cost of a Japanese house, there are a few factors that come into play. The first, and perhaps most obvious factor, is the location of the house. If you’re looking for a Tokyo mansion, you’re obviously going to pay more than if you’re looking for a house in the countryside.…

An assignment of mortgage is a legal document that transfers ownership of a mortgage from one party to another. The original lender (known as the assignor) transfers their interest in the mortgage to the new lender (known as the assignee). This type of transaction is often used when a borrower refinances their home loan with…

Home Equity Loan A home equity loan is a loan that is secured by your home. This means that if you default on the loan, your lender can foreclose on your home. Home equity loans are usually a shorter term than a reverse mortgage and have a lower interest rate. How Home Equity Loans Work…

A mortgage underwriter is responsible for reviewing and approving loan applications. They must have a thorough knowledge of the guidelines set by the government and the financial institution. The average salary for a mortgage underwriter is $64,000 per year. Duties A mortgage underwriter is responsible for approving or denying loan applications based on the applicant’s…

Introduction If you’re thinking of buying a home, you’re likely wondering when is the best time to apply for a mortgage. The answer, unfortunately, is not as straightforward as you might hope. The best time to apply for a mortgage is when you are ready to buy a house. This means that you have saved…

Introduction A fixed-rate mortgage is a loan in which the interest rate on the note will remain the same throughout the entire term of the loan, as opposed to loans in which the interest rate may adjust or “float”. Generally, fixed-rate mortgages come in terms of 30, 20, 15, and 10 years, and are available…

An assignment of mortgage is a legal document that transfers the mortgage from one party to another. The most common reason for this is when a borrower defaults on their loan and the lender wants to sell the property to recoup their losses. Mortgage assignments are also used in situations where the property is being…

Introduction An open-ended mortgage is a type of home loan that allows for repayment of the loan principle at any time without penalty. Most mortgages are closed-ended, meaning that the borrower must repay the loan in full by a certain date or face a penalties. An open-ended mortgage gives borrowers more flexibility in how and…