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Home Buying: From Pre-Approval to Closing

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  Buying a home is one of the most exciting milestones in life, but it can also feel a bit overwhelming if you’re not sure what to expect. From getting pre-approved for a mortgage to closing the deal, there are several vital steps to take along the way. In this blog, we’ll explain the home-buying process so you know exactly what to expect and can approach each step with confidence. 1. Pre-Approval Before you even start looking at houses, getting pre-approved for a mortgage is essential. This step involves a lender checking your financial situation—like your credit score, income, and debts—to determine how much they will lend you. Getting pre-approved helps you know your budget and shows sellers that you’re serious about buying. How to Get Pre-Qualified: Gather your financial documents (tax returns, pay stubs, bank statements). Compare lenders to find the best rates and terms. Submit your application and wait for the approval. 2. House Hunting Now that you know your budget, the fun ...
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Navigating Loan Approval After a Financial Setback

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  Life doesn’t always follow a straight line, so naturally, neither does your financial journey. Maybe you’ve had a recent job loss, faced unexpected medical bills, or watched market conditions shift your credit outlook. If you’re considering buying a home or refinancing, these challenges may feel like a roadblock; however, they don’t have to be the end of the road. At HomeSpring Mortgage , we understand that setbacks happen, and we’re here to guide you through the process with clarity and confidence. Understanding How Lenders See Financial Setbacks Mortgage lenders look at your financial history to measure risk, but a single setback doesn’t define you. What matters most is context, such as: Trends over time:  Lenders care about long-term behavior. A one-off financial shock is far less impactful than ongoing missed payments. Credit recovery:  Showing steady recovery after a setback—like paying down debt, keeping current accounts on track, and maintaining consistent incom...
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Look for These Things to Find the Best Mortgage Lenders in South Carolina

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  The American Dream is alive and well in the real estate industry. Many first-time buyers are actively looking to make their dream of homeownership a reality. But unfortunately , not everyone has the same credentials or ability to obtain financing. If you fall short due to your credit history or other factors, you should still have options to borrow money. Traditional lenders are guided by specific rules and regulations . However, other nontraditional or non-QM lenders can sometimes bend the rules to find options that are somewhat unconventional . If you are having a hard time getting your client approved for a loan, look for these signs of the best mortgage lenders in South Carolina who will think creatively to get them approved. Non-QM Loans Although traditional mortgage lenders are guided by specific rules and regulations in terms of lending, non-QM lenders have a little more leeway. Non-QM loans differ because they don’t require the same hoops that traditional lenders do ...
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