HomeSpring Mortgage

  Are you a self-employed individual looking to find a mortgage lender Charleston, SC? Have you encountered roadblocks due to fluctuating income and unconventional financial documentation? Look no further! In this comprehensive guide, we’ll walk you through everything you need to know about  Bank Statement Loans , an innovative solution offered by Homespring Mortgage to help self-employed individuals achieve their homeownership dreams. What are Bank Statement Loans? Bank statement loans, also known as self-employed mortgage loans or alternative documentation loans, are tailored solutions designed for self-employed borrowers who might not have traditional income verification documents like W-2s or pay stubs. Instead of relying solely on these documents, bank statement loans consider the applicant’s average monthly bank deposits over a specified period to determine their income eligibility for a mortgage. Key Benefits of Bank Statement Loans Like any other loan, bank statement ...

  Just two short years ago, the nation was scrambling to figure out how to live in a pandemic world. A lot of American industry barely weathered the economic conditions, but there were some sectors that not only survived – they soared. Two and a half years later, the real estate is still going strong. Many areas experienced the lowest inventory of houses on the market ever witnessed. When you combine that with the historically-low interest rates, the seller’s market is not going anywhere. If you are looking to purchase a home, especially a high-priced one,  obtaining a loan  before you even put your bid in is critical. There are other options for Jumbo Loan in South Carolina. What is a Jumbo Loan? By definition, a jumbo loan is a mortgage loan that is above the limits set by Freddie Mac and Fannie Mae, which are the government-backed US home loan networks. Jumbo loans can be taken out for primary residences, commercial properties, and second homes. The exact limit of ...

So much has changed over the past three years – and in mortgages, especially over the past several months. We have been enjoying historically low interest rates for many years, and most of us have forgotten that 2% is not the norm. Although mortgage rates are on the rise , now is still a good time to consider homeownership. If you are one of the many, however, who does not qualify for a traditional mortgage, you do have options. Not all non-QM lenders are the same, so the company you choose does matter. These are things to look for that mark the top Non-QM Lenders in Charleston, SC. Creative and Innovative Traditional mortgage lenders don’t have much leeway when it comes to qualifying and approving mortgage borrowers. Due to historical mishaps, the government has set very strict guidelines about who is credit-worthy and who is considered not to be. If you are one of the many who don’t fit into those rigid confines, then you need a mortgage lender who can find creative solution...

Are you dreaming of owning property in the U.S. but not a citizen? No worries!  Foreign National Loan offer a way for non-U.S. citizens to invest in American real estate. These loans are specifically designed to accommodate the unique financial situations of foreign nationals. In this blog, we’ll cover exactly what foreign national borrowers need to qualify. Continue to learn more. Valid Passport and Visa You’ll need a valid passport and a visa allowing an extended stay in the U.S. This shows you have the legal right to stay in the country and can stay long enough to manage your property. Proof of Income Demonstrate a steady income by providing recent pay stubs, tax returns, or a detailed letter from your employer. This reassures lenders that you can handle monthly mortgage payments. Bank Statements Provide six to twelve months of bank statements to show financial stability. This helps prove you can cover down payments, closing costs, and ongoing expenses. Credit History If you d...