How Long Does It Take to Process Tennessee Home Mortgage Applications?

"Processing is an elaborate stage for this is when your files are double-checked for errors, misinformation, and discrepancies. The mortgage company will review your financial status, tax filings, liabilities, and credit history to determine your loan eligibility and the pricing that matches your financial capability. With your approval, processors will also likely call your employer to verify your employment status. Investigations on undisclosed debts, appraisals, and underwriting are also done during this stage, along with further documentation, if necessary. Your availability plays an important part in closing your home loan application. Most lenders ask follow-up questions and verify information while processing applications for home loans in Tennessee. Your duty is to make sure that you will immediately respond to the processor’s inquiries either by phone or by email. In the event that the lender fails to provide you with a report about the status of your application, do not he

http://tennessee.churchillmortgage.com/info-articles/how-long-does-it-take-to-process-tennessee-home-mortgage-applications/

Tennessee Mortgage Loans Tips: How to Qualify for a Conventional Loan

"However, this is not enough. You are also required to provide adequate proof of how you are receiving a steady stream of income. Lenders typically call the employers of borrowers to verify whether or not the latter have jobs. If you are new to the country or simply do not have a credit history, you can submit documents such as a record of paying rent on time, insurance, utility bills, and even tuition and child care fee receipts to prove your financial status. The process of applying for a conventional home loan may seem complicated. However, provided that you fulfill all the requirements, it will eventually lead you to living in your dream home. If you want to know more about applying and getting approved for loans, consult a dedicated Tennessee mortgage lender like Churchill Mortgage."

http://tennessee.churchillmortgage.com/info-articles/tennessee-mortgage-loans-tips-how-to-qualify-for-a-conventional-loan/

How Do the FHA and Reliable Tennessee Mortgage Brokers Work Together?

"A mortgage is a long-term loan offered to people who are looking for easier ways to buy a home. Naturally risky, it should be insured to protect the lenders’ interest, especially in the event borrowers default on their loans. Even in states like Tennessee that have huge economies, lenders are still careful not to close mortgages without sufficient insurance. This explains why many Tennessee mortgage brokers and lenders seek approval from FHA to offer FHA-insured mortgages. Unlike conventional loans that adhere to strict underwriting guidelines, FHA-insured loans require very little cash investment to close a loan. There is more flexibility in calculating household income and payment ratios. The cost of the mortgage insurance is passed along to the homeowner and typically is included in the monthly payment. In most cases, the insurance cost to the homeowner will drop off after five years or when the remaining balance on the loan is 78 percent of the value of the property—whichever i

http://tennessee.churchillmortgage.com/info-articles/how-do-the-fha-and-reliable-tennessee-mortgage-brokers-work-together/

How the Partial Government Shutdown Affected Tennessee Mortgage Loans

In the wake of the U.S. Government shutdown, you may be wondering: How did it affect Tennessee home mortgage processes? There are two primary ways a borrower may have been inconvenienced from October 1 through 16: First, the United States Department of Agriculture (USDA) wasn't available, so that meant USDA loans weren't available until the USDA opened its doors again. Second, the Internal Revenue Service (IRS) weren't able to respond to people asking for 4506-T request forms. This particular form is a request for taxpayer transcripts, and many lenders require borrowers to provide this form prior to closing. Similarly, Social Security number verification also became a problem during this period. Fortunately, all that's over and done with now. USDA loans are again available (although reports state that they're backed up approximately 25 days), the IRS is issuing tax transcripts once again, and Social Security number can again be confirmed.

http://tennessee.churchillmortgage.com/industry-news/how-the-partial-government-shutdown-affected-tennessee-mortgage-loans/

Tennessee Mortgage Loans: Save Money By Paying Off Your Mortgage Early

A deeper look reveals mortgage-free ownership rates are higher in rural parts of Tennessee and lower in more-urban areas, especially Nashville – home of seven of the 10 counties with the lowest rates. Rutherford County was at the bottom, at 21 percent, followed by Montgomery (22 percent) and Williamson (23 percent). Davidson stood at 25 percent. At the other end, at least half of homeowners in 15 Tennessee counties – led by Perry County at 58 percent – owned their homes free and clear. For residents that are now mortgage-free, their incomes are now freed up, and their position allows them to focus solely on building up their savings. As these locals will attest, paying off Tennessee mortgage loans is a critical step toward financial independence, and consequently, a prosperous retirement. If this sounds compelling, then you'll definitely want to learn these tips on how to pay off your mortgage early.

http://tennessee.churchillmortgage.com/info-articles/tennessee-mortgage-loans-save-money-by-paying-off-your-mortgage-early/

A Few Things That Can Help You Understand Tennessee Mortgage Reports

Distressed sales remain persistently high, particularly short sales. Markets with the biggest increases in short sales tend to be those where either foreclosure starts or scheduled foreclosure auctions have rebounded in the last 18 months—translating into more motivated short sellers—or those with a still-high percentage of underwater homeowners with negative equity. However, not everyone can comprehend this information, let alone understand how it influences the real estate market. This is why companies like Churchill Mortgage, a Tennessee mortgage company, offer free reports to their clients to provide them important updates on the industry. The information in these reports is intended to help both existing and potential mortgage payers to make better decisions relating to mortgages, such as rate readjustments, scouting for reliable mortgage brokers, and the like.

http://tennessee.churchillmortgage.com/industry-news/a-few-things-to-help-you-understand-tennessee-mortgage-reports/

Shutdown’s Down: Its Effects on Buyers and Tennessee Mortgage Brokers

The statistics show that since government operations have resumed, federal agencies have given a much more positive outlook on the mortgage industry, driving potential homeowners to apply for mortgage through agencies such as Tennessee-based mortgage brokers. The reopening of federal services allowed the government to resume their functions. One of the agencies most heavily affected by the shutdown was the U.S. Department of Agriculture’s Rural Housing Service. The service shutdown, including the Federal Housing Authority (FHA), had negatively compromised many citizens, especially low- and middle-income buyers who had been unable to get good mortgage rates for houses in the rural areas of the United States. s in the operational status of the CNBC reported that purchase applications for government programs have dropped to its lowest since 2007, as the effect of the shutdown traumatized the buying impulse of potential homeowners.

http://tennessee.churchillmortgage.com/industry-news/shutdowns-down-its-effects-on-buyers-and-tennessee-mortgage-brokers/

Tennessee Home Mortgage Plans: Homebuyers Should Consider Laid Back Suburbs Like Brentwood

"If you're looking for an attractive, laid back suburb in the Nashville metropolitan area, then you might want to consider the suburb of Brentwood in Williamson County just south of Nashville. Companies that offer Tennessee home mortgage plans, like Churchill Mortgage, say that Brentwood offers residents the convenience of living in proximity to Nashville. Brentwood follow a one-house-per-one-acre plan, ensuring that your family can enjoy privacy, security, and quietness. Listed below is an excerpt that appeared on The Tennessean, detailing Meadowlake subdivision's amenities: Meadowlake is one of the few Brentwood neighborhoods that exist near the city’s commercial core including the expansive Maryland Farms office park that lies just to the north of the residential homes. On the back western reaches of the neighborhood, a new 24-acre city-owned park sits between the subdivision and a parking garage and a future 263,000-square-foot Tractor Supply headquarters building, now und

http://tennessee.churchillmortgage.com/industry-news/tennessee-home-mortgage-plans-homebuyers-should-consider-laid-back-suburbs-like-brentwood/

Companies that Provide Tennessee Mortgage Loans Discuss the Redevelopment of Historic Jefferson Street in Nashville

"Plans to redevelop Jefferson street are underway and new projects—such as the new Sounds stadium and Sulphur Dell—are projected to bring new jobs and economic revival. While exciting developments are in the pipeline, developers have made a commitment to preserve the street's most significant cultural and historic landmarks. Exciting annual events include the Jefferson Street Jazz and Blues Festival. According to reputable mortgage loan companies that provide competitive Tennessee mortgage loans, like Churchill Mortgage, the Nashville metropolitan area is an attractive area for those who are thinking of relocating to Tennessee. Aside from being ranked among the top 40 American real estate markets, Nashville is also considered one of the best places to live and work in America by Employment magazine."

http://tennessee.churchillmortgage.com/industry-news/companies-that-provide-tennessee-mortgage-loans-discuss-the-redevelopment-of-historic-jefferson-street-in-nashville/

Tennessee Mortgage Loan Companies Discuss the Unique Characteristics of VA Loans

"The VA loan is unique because it's only available to military and war veterans, as well as the spouses who've survived them. This very characteristic of the VA loan may give some indication as to why it ranks as the safest of the home loan programs in terms of foreclosure avoidance. However, simply attributing the relative security of this loan to its limited market would also undersell its value. The VA loan is unique in more ways than just its market, and that's why mortgage brokers in places where home prices are still relatively affordable, like Tennessee, can expect more applications for such loans to arrive. Veterans who are struggling to cope with the effects of the recent recession can expect assistance from qualified Tennessee mortgage loan companies like Churchill Mortgage. Since the conventional route to owning a home is still largely plagued with uncertainty, VA loans—with its Loan Guaranty Program—is the option most eligible veteran borrowers prefer."

http://tennessee.churchillmortgage.com/industry-news/tennessee-mortgage-loan-companies-discuss-the-unique-characteristics-of-va-loans/

A Tennessee Mortgage Broker Discusses the FHA’s Back To Work Program

"While the worst appears to be over, some people are still suffering from the aftermath of the Great Recession. The fact that numerous people were affected by this significant financial downturn has left many unable to secure home loans given their spotty financial track records. Fortunately, there is still hope for prospective and current homeowners, as a change in policy is easing up FHA guidelines. The article stated that: “The 'Back to Work' program, as it's called, doesn't constitute a free pass for those who would otherwise be unable to qualify for financing, but it does reopen the housing market to a great many borrowers who would otherwise have been waiting for 3-7 years to tick off the clock—depending on their initial credit issue.” These revised guidelines will make it easier for struggling prospective homeowners to fulfill their dreams of owning property in places where prices are still manageable, such as Tennessee. Single family homes in the state remain relatively aff

http://tennessee.churchillmortgage.com/industry-news/a-tennessee-mortgage-broker-discusses-the-fhas-back-to-work-program/

The Appraisal Process Explained by a Tennessee Mortgage Loans Lender

If you find yourself with a final value that you don’t agree with, you can get another appraiser to come appraise your home. If that still doesn’t result in the number you want, consider some aesthetic things you can do that will increase your Tennessee home value, without costing you too much money. A good place to start is always painting the walls, doors, trim and moldings to instantly brighten up the interior. Other things to consider could be replacing outdated hardware and light fixtures, or some simple landscaping. Minor things like this will give your home a fresh look and could change the outcome of your appraisal. For further assistance in working with a reliable appraiser, contact your reliable Tennessee mortgage lender – we will be happy to point you in the right direction and provide you with a couple of references!

http://tennessee.churchillmortgage.com/industry-news/the-appraisal-process-explained-by-a-tennessee-mortgage-loans-lender

Securing a Mortgage in Tennessee… Even Without a Credit Score

No credit score loans were created specifically for those of you with no credit to fall back upon when it comes time to apply for a home loan. Normally, your lender will conduct a thorough background check, relying heavily on your credit report for information. In the cases where there is no credit report, the process can still take place, but it takes much longer. In order to get background information, your lender will have to go through different avenues to make sure you don’t have any late payments. This turns out to be a lot more paperwork for the underwriter to complete, which means your approval process time for a mortgage in Tennessee can be quite lengthy.

http://tennessee.churchillmortgage.com/industry-news/securing-a-mortgage-in-tennessee-even-without-a-credit-score/

Buying Better Despite Rate Hike: On Choosing a Secure Tennessee Home Mortgage

Andy Meek's July 16, 2013 article on Memphis Daily News discusses the almost 4 percent rise in mortgage rates in Shelby County. Described as “...the largest one-day jump in at least 10 years,” it's a market condition that hopes to rouse potential real estate buyers. The article cites the Federal Reserve's acquisition of $85 billion worth of mortgage-backed securities monthly as the cause for this boost. On one hand, rising mortgage rates can sound rather daunting, since current homeowners will be charged a bit more for their bills. However, higher rates often translate into higher real estate values that can really attract some people into purchasing lovely new homes for sale. To capture the good ones, buyers will need to work with a capable Tennessee home mortgage lender that offers flexible loans.

http://tennessee.churchillmortgage.com/industry-news/buying-better-despite-rate-hike-on-choosing-a-secure-tennessee-home-mortgage/

People are Still Going for Tennessee Mortgage Loans, Despite Terrible Experiences

The 2008 housing market fiasco left a bad taste in everyone's mouths, but Tennesseans are still committed to owning the home of their dreams despite the experience. In an article from The Tennessean, home sales in Middle Tennessee came in at about 3,000 in May 2013, a feat that hasn't been seen since 2007. Generally speaking, the number of applications for Tennessee mortgage loans is not expected to change anytime soon. With this in mind, loan companies should still expect to have a steady stream of customers to work with. However, owning a house is always a touch-and-go affair that requires homeowners to be extremely careful when managing their finances. Working with a reputable mortgage company like the Churchill Mortgage Corporation is only winning half the battle; a homeowner is still left to deal with making mortgage payments over a period of time.

http://tennessee.churchillmortgage.com/industry-news/people-are-still-going-for-tennessee-mortgage-loans-despite-terrible-experiences/

Choosing a Tennessee Mortgage Lender Carefully Saves You from Trouble

More than 900,000 Americans, including Tennessee locals, whose houses have been foreclosed at the height of the recession, will finally be getting their mortgage settlement, according to an article published last June 4, 2013 in The report details which borrowers are eligible for the settlement, and follows the plans of the Attorney General to hold abusive lenders responsible for the losses suffered by the homeowner victims. These actions are a culmination of 2012's National Mortgage Settlement plans, which have already provided more than $50 billion in settlement relief to homeowners around the country. The root of the foreclosures can all be traced back to greedy lenders, who have duped their borrowers. Nobody wants to borrow from a crook who demands exorbitant installments and financially corners debtors without offering any chance for refinancing. Thus, borrowers should trust only reputable lenders like Churchill Mortgage Corporation to take out a mortgage in Tennessee.

http://tennessee.churchillmortgage.com/industry-news/choosing-a-tennessee-mortgage-lender-carefully-saves-you-from-trouble/

Why it Might be Time to Visit a Helpful Tennessee Mortgage Broker

Kent Hoover's July 16, 2013 article on the Nashville Business Journal points out the current advantageous position of the housing market while predicting some future shortcomings, courtesy of a number of Congress legislation. The article draws its data from the Housing Market Index, which was compiled by the National Association of Home Builders (NAHB). This window of opportunity shouldn't be missed by those seeking to own brand new properties in the state of Tennessee. Before government policy implements its tax reform legislature, buyers should take advantage of the reduction in mortgage interest while it lasts. Of course, interested individuals will need the help of a trustworthy Tennessee mortgage broker to refer them to an appropriate lender; some brokers, like the Churchill Mortgage Corporation, can also provide loan and refinancing arrangements.

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