Home Loans Archives – Mark Feder

11 Sep 2026

How Mortgage Underwriting Looks at Your Financial Picture

Mortgage Tips

Mortgage underwriting can seem mysterious when you are buying a home. You submit documents, answer questions, and sometimes receive requests for additional information without knowing exactly what is happening behind the scenes. Understanding the purpose of underwriting can make this stage of the mortgage process much less intimidating. Underwriting Looks Beyond One NumberA mortgage decision is generally not based solely on your credit score or income. Underwriting evaluates multiple parts of your financial profile to determine whether the loan meets applicable lending requirements.The exact criteria depend on the mortgage program and lender. Income and Employment Are ReviewedLenders need to document…

20 May 2026

By Mark Feder

Understanding PMI and Why It May Benefit You

Mortgage

Private Mortgage Insurance, commonly known as PMI, is often misunderstood by homebuyers. Many people view it as an added expense to avoid at all costs, but that perspective can actually delay homeownership and limit your options. When used strategically, PMI can be a valuable tool that helps you purchase a home sooner and begin building equity earlier. What PMI Is and How It WorksPMI is a type of insurance that protects the lender in the event a borrower defaults on a loan. It is typically required when a buyer puts down less than 20% on a home. While it does…

15 May 2026

By Mark Feder

Common Mortgage Mistakes to Avoid Before Closing on Your Home

Mortgage Tips

The mortgage process does not end once you are pre-approved or even after your offer is accepted. The period leading up to closing is just as important, and mistakes during this time can delay or even jeopardize your loan. Understanding what to avoid helps ensure a smooth path to closing and keeps your home purchase on track. Avoid Taking on New DebtOne of the most common mistakes buyers make is taking on new debt before closing. Financing a vehicle, opening new credit accounts, or making large purchases can impact your debt-to-income ratio and your credit score. Lenders may recheck your…

14 May 2026

By Mark Feder

What to Expect During the Mortgage Approval Process

Mortgage Tips

Getting pre-approved is an important step in the homebuying journey, but it is only the beginning of the mortgage process. Many buyers are surprised by what happens next and are not fully prepared for the steps involved in final approval. Understanding what to expect can help you stay on track and avoid delays that could impact your ability to close on your home. Pre-Approved Versus Fully ApprovedA pre-approved mortgage gives you an estimate of what you can borrow based on your initial financial information. However, full approval happens later in the process after a deeper review. Lenders will verify your…