Tax transcripts are official documents provided by the Internal Revenue Service (IRS) that summarize information provided to them about you. They are often used for various financial and legal purposes, including verifying income, applying for loans, and resolving tax issues.
A second mortgage is a mortgage taken out after you already have a mortgage. The term "second" indicates the position this mortgage falls on the deed to the house.
The Family Opportunity Mortgage is a unique program designed to help families secure housing for elderly parents or disabled adult children. This mortgage option offers significant financial advantages and flexibility.
For FHA mortgages orginated after June 2013, mortgage insurance stays on the mortgage for the life of the mortgage. Except if you put 10%+ down payment when you orginated the mortgage, then mortgage insurance drops off after year 11.
Mortgage lenders require a look back at your employment over the past two years. It is acceptable to have switched jobs over those two years, have a small gap in employment, or even be in school over the past 24 months.
