HomeSpring Mortgage

  In 2025, rising home insurance premiums and property taxes are reshaping the very idea of mortgage affordability. And if you’re in the market for a Non-QM loan, those shifts matter even more. You might not qualify for traditional financing because you’re self-employed, a real estate investor, or working with unique income documentation. But even if a Non-QM loan gives you the flexibility that conventional loans don’t, you’re still navigating the same financial challenges from a different angle. In this blog, we’ll explore how increasing costs affect your monthly mortgage outlook and what you can do about it. The Hidden Side of “Affordability” When most people talk about mortgage affordability, they think about the interest rate and the monthly principal payment. But your lender and wallet are looking at the complete picture, including: Property taxes Homeowners insurance HOA fees (if applicable) And sometimes even escrow reserves Why This Matters for Non-QM Loans Non-QM loans ...

  Receiving your mortgage statement in the mail (or via email) can sometimes feel like staring at a foreign language containing a jumble of numbers, terms, and fees. If you’re scratching your head wondering what exactly you’re paying for or how your loan is progressing, you’re not alone. Mortgage statements are packed with essential info, but they can be confusing if you’re not familiar with the terminology. The good news is that once you know what to look for, your mortgage statement becomes a powerful tool that keeps you in complete control of your home loan. In this blog, our Charleston mortgage company will break down a typical mortgage statement so you can read it like a professional. 1. The Basics: Loan Overview Right at the top, you’ll usually see your loan number, the statement date, and your account information. This is your “header” section, which is similar to the cover page of your statement. It helps you confirm this statement is about your loan and the period it cove...

  Life happens. Whether it was a medical emergency, job loss, or financial hardship, going through a bankruptcy or foreclosure can feel like the end of the road when it comes to homeownership. At HomeSpring Mortgage , we specialize in helping buyers across Charleston get a second chance through Non-QM loans —flexible, realistic solutions that don’t rely solely on credit scores or traditional paperwork. If you’ve been told “no” by conventional lenders, a non-QM loan might be the key to getting you back in the market sooner than you think. What Is a Non-QM Loan? A non-QM loan is a mortgage that falls outside the typical guidelines set by Fannie Mae or Freddie Mac. These creative solutions are designed for borrowers with unique financial situations, such as: Self-employed income Recent credit events (bankruptcy, foreclosure, short sale) High assets but low monthly income Non-traditional documentation Unlike traditional loans, non-QM mortgages allow for more flexible underwriting, whi...