Refinance & Mortgage Tips: Down Payment From 401k Or 403b Retirement Annuities

By: Hunter Lending Team

Published on: 27/08/2024

If you are purchasing a home and have a substantial portion of your assets inside of a retirement account such as a 401K, 403B or other retirement product or annuity, you may choose the increasingly popular option of tapping those funds to make a down payment on your new home. Like any other accounts you may have in your name, such as brokerage accounts and bank checking, savings and money market accounts, most popular retirement accounts qualify as assets to be counted towar...

Mortgage Blogs

Mortgage & Refinance Tips: Debt To Income Ratios

By: Hunter Lending Team

Published on: 23/08/2024

Debt to Income Ratios, often referred to as “DTI’s”, are a key calculation used in the refinance, debt consolidation, and purchase mortgage application process. A debt to income ratio is arrived at by dividing your monthly debt payments by your pre-tax income. Debt to income ratios are finally used to determine how much money you can borrow, and a thorough knowledge of DTIs can help you get the most value from your refinance, debt consolidation or purchase mortgage transactio...

Mortgage Blogs

Refinance & Mortgage Tips: Down Payment With Gift Letter

By: Hunter Lending Team

Published on: 22/08/2024

If you are a first time home buyer who has been out shopping for that dream house, you’ve probably already heard your real estate agent or property developer’s first question: “How much will you be putting down?” If you have excellent credit, several years of consistent income on record and a relatively long history of using credit wisely, you may qualify for 100% financing, often referred to as a “No Money Down Mortgage” or “Zero Down Home Loan”. But for the majority of new ..

Mortgage Blogs

Refinance & Mortgage Tips: Your Down Payment Is Key

By: Hunter Lending Team

Published on: 22/08/2024

If you are buying a house, the first thing you need to figure out is how much of a down payment you can afford to make. This may seem like the sort of advice your father would give you, but rest assured there are a few reasons why knowing what you can put down and where you’ll get the money can make all the difference when shopping for a house and a mortgage to finance your new purchase. Before you pick up your local newspaper and browse the real estate section looking fo...

Mortgage Blogs