How To Get Your Home Loan Approved With Ease


Following these simple tips and good practices can help mortgage providers be confident in giving you the home loan!


June 10, 2021 by Ultra Mortgage


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A loan is a borrowed amount of funds within a repayment agreement. This means paying back the amount based on the interest rate, the total amount of the loan, and the duration determined by your lender or financial provider. Most people will consider applying for a loan to pay for assets, education, business capital, or instances where one’s demand for money is of utmost importance.
Certain factors may affect one’s loan application, such as credit, debt-to-income ratio, work history, and assets. It is crucial to keep your financial standing in check so that nothing affects the decision made once you’ve submitted initial loan application documents.
Some things to avoid when applying for a home loan:


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6 HOME BUYING MYTHS DEBUNKED


September 10, 2021 by Ultra Mortgage 
If you’re in the process of purchasing your first home, chances are you feel a little unsure about how to go about it. You’ll probably seek the advice of family, friends, colleagues, or even experts… but guess what, they may not all be accurate. Falling for these might even lead to disappointment and discourage you from buying that property.
No one handbook tells you how to go about [probably] the biggest purchase of your life. Many resources will tell you one thing or another, but we’re here to set the record straight around misleading myths relevant to home buying.
Myth #1: “I have to put a 20% down.”
According to this resource, a median listing price in America is around $385,000—20% of it can be daunting for many people. What you need to know is that this percentage serves more as a guideline rather than a fact. On average, down payments on ho ...

Picture this nightmare: You apply for a mortgage, but your application gets rejected. Suddenly, you’re hit with an overwhelming wave of embarrassment, shock, and horror. It’s like having your credit card denied at the Shoprite. So. Much. Shame.
Sadly, this is a reality for some home buyers. According to a recent Federal Reserve study, one out of every eight home loan applications (12%) ends in a rejection.
There are a number of reasons mortgage applications get denied‚ and the saddest part is that many could have been avoided quite easily, had only the applicants known certain things were no-nos. So, before you're the next home buyer who gets burned by sheer ignorance, scan this list, and make sure you aren't making any of these five grave mistakes, which could land your mortgage application in the "no" pile.
1. You didn't use credit cards enough
Some people think credit card debt is the kiss of death ... but guess what? It's also a way to establish. ...