https://www.seanastewart.com/Mon, 22 Jul 2024 21:00:00 +0000sean@ashburnmortgages.com (Sean Stewart Mortgage Broker)Sean Stewart Mortgage Brokerenhttp://blogs.law.harvard.edu/tech/rsshttps://www.seanastewart.com/blog/investment-property---what-is-debt-coverage-ratiohttps://www.seanastewart.com/blog/post/view/post/122051Mon, 22 Jul 2024 21:00:00 +0000https://www.seanastewart.com/blog/investment-property---what-is-cash-on-cash-returnhttps://www.seanastewart.com/blog/post/view/post/122050Mon, 08 Jul 2024 21:00:00 +0000https://www.seanastewart.com/blog/investment-property---what-is-cap-ratehttps://www.seanastewart.com/blog/post/view/post/122049Mon, 24 Jun 2024 13:00:00 +0000https://www.seanastewart.com/blog/purchase-investment-properties-with-home-equityhttps://www.seanastewart.com/blog/post/view/post/122048Fri, 07 Jun 2024 20:00:00 +0000https://www.seanastewart.com/blog/mistakes-people-make-when-buying-an-investment-propertyhttps://www.seanastewart.com/blog/post/view/post/120676Wed, 20 Dec 2023 14:00:00 +0000https://www.seanastewart.com/blog/purchase-investment-properties-using-private-moneyhttps://www.seanastewart.com/blog/post/view/post/120675Tue, 05 Dec 2023 20:00:00 +0000https://www.seanastewart.com/blog/3-reasons-your-mortgage-falls-aparthttps://www.seanastewart.com/blog/post/view/post/120222Wed, 11 Oct 2023 13:00:00 +0000https://www.seanastewart.com/blog/private-mortgage---what-can-i-use-the-funds-for-https://www.seanastewart.com/blog/post/view/post/117502Wed, 15 Feb 2023 14:00:00 +0000https://www.seanastewart.com/blog/private-mortgage---exit-strategyhttps://www.seanastewart.com/blog/post/view/post/117501Wed, 01 Feb 2023 14:00:00 +0000https://www.seanastewart.com/blog/will-interest-rates-go-downhttps://www.seanastewart.com/blog/post/view/post/117692Mon, 30 Jan 2023 20:00:00 +0000https://www.seanastewart.com/blog/private-mortgage---lender-feeshttps://www.seanastewart.com/blog/post/view/post/117500Wed, 18 Jan 2023 14:00:00 +0000https://www.seanastewart.com/blog/the-benefits-of-a-private-mortgageshttps://www.seanastewart.com/blog/post/view/post/117499Wed, 04 Jan 2023 20:00:00 +0000https://www.seanastewart.com/blog/liquid-asset-qualificationhttps://www.seanastewart.com/blog/post/view/post/114470Thu, 17 Feb 2022 22:00:00 +0000https://www.seanastewart.com/blog/private-mortgage---effective-useshttps://www.seanastewart.com/blog/post/view/post/113578Wed, 10 Nov 2021 19:00:00 +0000https://www.seanastewart.com/blog/the-investor-mortgagehttps://www.seanastewart.com/blog/post/view/post/113468Mon, 01 Nov 2021 19:00:00 +0000https://www.seanastewart.com/blog/the-self-employed-mortgagehttps://www.seanastewart.com/blog/post/view/post/113426Tue, 26 Oct 2021 22:00:00 +0000https://www.seanastewart.com/blog/mortgage---do-i-need-an-income-to-get-a-mortgagehttps://www.seanastewart.com/blog/post/view/post/112491
Employment income is the most common and you can use the gross annual amount. Other types of income include rental income, investment income (dividends and interest), alimony, pensions, child support and other types of income. There are many restrictions on how muc...]]>Mon, 26 Jul 2021 13:00:00 +0000https://www.seanastewart.com/blog/mortgage-lenders---find-the-right-lender-for-youhttps://www.seanastewart.com/blog/post/view/post/112287
All of these institutions including the big six banks are regulated by the same government agency called the Office of the Superint...]]>Mon, 12 Jul 2021 13:00:00 +0000https://www.seanastewart.com/blog/how-mortgage-interest-rates-workhttps://www.seanastewart.com/blog/post/view/post/112157
Lenders look at many factors when deciding what interest rate to offer you for your mortgage. Such things as income, credit score, credit history, others debts that you have, the property itself, assets that you have, liens or collections, loan amount relative to the property value, etc. There really is an almost endless list of cri...]]>Mon, 28 Jun 2021 13:00:00 +0000https://www.seanastewart.com/blog/mortgage---how-to-calculate-mortgage-qualificationhttps://www.seanastewart.com/blog/post/view/post/111969Mon, 14 Jun 2021 13:00:00 +0000https://www.seanastewart.com/blog/top-5-reasons-your-mortgage-may-fall-aparthttps://www.seanastewart.com/blog/post/view/post/111864 Documentation does not match your story - If you say that you earn $60,000 of income, your income documentation needs to match. You can't give documentation that shows $58,500 of income when ...]]>Mon, 31 May 2021 13:00:00 +0000https://www.seanastewart.com/blog/home-equity---can-you-use-home-equity-to-qualify-for-a-mortgage-https://www.seanastewart.com/blog/post/view/post/111737
If your income does not qualify you for the mortgage you need but the mortgage amount is small compared to the property value then we can use one of two products:

1. 65% Equity Product The mortgage amount is 65%, or less, of the property value. Meaning that you will have at least 35% equit...]]>Mon, 17 May 2021 13:00:00 +0000https://www.seanastewart.com/blog/stress-test---what-has-changed-https://www.seanastewart.com/blog/post/view/post/111612
Currently, the stress test interest rate is set at 4.79% for all mortgage products. This is not the interest rate that you will pay, it is just used to ...]]>Mon, 03 May 2021 13:00:00 +0000https://www.seanastewart.com/blog/lender-fee---why-lenders-charge-a-feehttps://www.seanastewart.com/blog/post/view/post/111339
Any type of lending is based on RISK. The riskier the transaction, the higher the cost of borrowing.  Alternative lenders have two ways to compensate for the increased risk which is associated with alternative mortgages, (1) increase the interest rate, and (2) charge a fee. So, why charge ...]]>Mon, 19 Apr 2021 13:00:00 +0000https://www.seanastewart.com/blog/private-financing---how-does-it-work-https://www.seanastewart.com/blog/post/view/post/111018
Qualification: In general, private lenders do not use the typical debt servicing calculation to qualify you for a mortgage. Though, the lender does want to see that you have the ability to make your mortgage payments. Hence, it tends to be...]]>Mon, 05 Apr 2021 13:00:00 +0000https://www.seanastewart.com/blog/first-time-home-buyer---mortgage-insurancehttps://www.seanastewart.com/blog/post/view/post/110437
If you are putting less than 20% down payment on purchasing a property then it is a federal law that you have to pay for mortgage insurance. That's right, you have no choice. It is federal law, there is no way around it.

Mortgage insurance is insurance that protects the lender in case you default on the loan. If for whatever reason you are not able to pay your mortgage then the lender can make an insurance claim to get their mo...]]>Mon, 22 Mar 2021 13:00:00 +0000https://www.seanastewart.com/blog/mortgage-pre-approval---get-pre-approved-in-15-minuteshttps://www.seanastewart.com/blog/post/view/post/110998Mon, 08 Mar 2021 14:00:00 +0000https://www.seanastewart.com/blog/first-time-home-buyer---how-to-qualify-for-more-mortgagehttps://www.seanastewart.com/blog/post/view/post/110436Mon, 22 Feb 2021 14:00:00 +0000https://www.seanastewart.com/blog/broker-fee---what-is-a-reasonable-fee-https://www.seanastewart.com/blog/post/view/post/110656
Here is what I see as reasonable...]]>Mon, 08 Feb 2021 14:00:00 +0000https://www.seanastewart.com/blog/mortgage---how-long-does-it-take-to-get-a-mortgagehttps://www.seanastewart.com/blog/post/view/post/110358Mon, 25 Jan 2021 14:00:00 +0000https://www.seanastewart.com/blog/refinance---what-can-i-use-the-money-for-https://www.seanastewart.com/blog/post/view/post/110357 You can use the money to pay out almost any other type of structured loan. Common debt payouts include: Credit cards Lines of Credits Private mortgages Personal loans Car Loans Student loans You can also us...]]>Mon, 11 Jan 2021 14:00:00 +0000https://www.seanastewart.com/blog/interest-rates---fixed-vs--variablehttps://www.seanastewart.com/blog/post/view/post/109631Mon, 28 Dec 2020 14:00:00 +0000https://www.seanastewart.com/blog/mortgage---refinance-vs--renewalhttps://www.seanastewart.com/blog/post/view/post/109547
Refinance means that you are looking for an increase in the amount of your current mortgage. It may be at the time of renewal or it may be at some point during your current mortgage term...]]>Mon, 14 Dec 2020 14:00:00 +0000https://www.seanastewart.com/blog/down-payment---acceptable-sources-of-fundshttps://www.seanastewart.com/blog/post/view/post/109546 Most borrowers ask how much of a down payment that they need to purchase a house. But it is equally important to know where the money is coming from. Lenders will decline mortgages if the source of down payment is not acceptable.
Anti-...]]>Mon, 30 Nov 2020 14:00:00 +0000https://www.seanastewart.com/blog/total-net-worth-mortgage---money-talkshttps://www.seanastewart.com/blog/post/view/post/109113 Asset Requirements: Minimum of $150,000 of liquid assets. Must have $1 of liquid asset for every $1 in mortgage needed above standard qualification amount. No Foreign income or assets can be used. Non-locked assets only. L...]]>Mon, 16 Nov 2020 14:00:00 +0000https://www.seanastewart.com/blog/self-employed---the-two-year-rulehttps://www.seanastewart.com/blog/post/view/post/109114 Lenders treat the self-employed income differently than a traditional salaried job. The self-employed income is variable from year to year. What income we made last year does not guarantee that we will make the same income this year. We...]]>Sun, 01 Nov 2020 23:00:00 +0000https://www.seanastewart.com/blog/finance-condition---to-remove-or-not-https://www.seanastewart.com/blog/post/view/post/109202Sun, 18 Oct 2020 23:00:00 +0000https://www.seanastewart.com/blog/state-your-income---the-self-employed-advantagehttps://www.seanastewart.com/blog/post/view/post/109039 Stated income programs allow you to literally state your income to use to qualify for your mortgage. This is only available to the self-employed.
There is some reasonability to what income you can state, it must be reasonable for your ...]]>Sun, 04 Oct 2020 23:00:00 +0000https://www.seanastewart.com/blog/down-payment---90-day-historyhttps://www.seanastewart.com/blog/post/view/post/109038 The standard rule for mortgage down payment is a 90-day history of your bank account that proves the money is in your account. If the money has not been in you...]]>Sun, 20 Sep 2020 23:00:00 +0000https://www.seanastewart.com/blog/how-to-maintain-your-credit-scorehttps://www.seanastewart.com/blog/post/view/post/108779Mon, 06 Apr 2020 18:00:00 +0000https://www.seanastewart.com/blog/a-line-of-credit-for-the-self-employed-business-ownerhttps://www.seanastewart.com/blog/post/view/post/108780Mon, 03 Feb 2020 18:00:00 +0000https://www.seanastewart.com/blog/how-to-qualify-for-a-mortgage-using-commission-incomehttps://www.seanastewart.com/blog/post/view/post/108783Mon, 15 Apr 2019 20:00:00 +0000https://www.seanastewart.com/blog/increase-cash-flow---a-mortgage-for-the-self-employed-business-ownerhttps://www.seanastewart.com/blog/post/view/post/108781Tue, 29 Jan 2019 19:00:00 +0000https://www.seanastewart.com/blog/3-criteria-that-can-affect-your-mortgage-interest-ratehttps://www.seanastewart.com/blog/post/view/post/108782Mon, 13 Aug 2018 20:00:00 +0000https://www.seanastewart.com/blog/specializing-in-mortgages-for-self-employed-owners-https://www.seanastewart.com/blog/post/view/post/108784Mon, 20 Nov 2017 20:00:00 +0000https://www.seanastewart.com/blog/time-to-pay-attention-to-your-mortgage---refinance-now-https://www.seanastewart.com/blog/post/view/post/108772Wed, 25 Oct 2017 13:00:00 +0000https://www.seanastewart.com/blog/4-more-myths-about-reverse-mortgageshttps://www.seanastewart.com/blog/post/view/post/108773Tue, 26 Sep 2017 13:00:00 +0000https://www.seanastewart.com/blog/4-myths-about-reverse-mortgageshttps://www.seanastewart.com/blog/post/view/post/108789Thu, 07 Sep 2017 02:00:00 +0000https://www.seanastewart.com/blog/5-innovative-uses-for-a-reverse-mortgagehttps://www.seanastewart.com/blog/post/view/post/108790Thu, 10 Aug 2017 02:00:00 +0000https://www.seanastewart.com/blog/how-does-a-reverse-mortgage-work-https://www.seanastewart.com/blog/post/view/post/108791Wed, 02 Aug 2017 02:00:00 +0000https://www.seanastewart.com/blog/how-do-you-actually-qualify-for-the-lowest-mortgage-interest-rate-https://www.seanastewart.com/blog/post/view/post/108792Wed, 05 Jul 2017 02:00:00 +0000https://www.seanastewart.com/blog/3-awesome-reasons-to-use-a-mortgage-broker-and-not-the-bankhttps://www.seanastewart.com/blog/post/view/post/108793Tue, 09 May 2017 03:00:00 +0000