Blog - Tawnya King

22 Aug 2025

Can You Use Rental Income to Qualify for a Mortgage?

Mortgage Tips

When it comes to qualifying for a mortgage, your income plays a key role in determining how much you can borrow. For many buyers, especially those interested in investment properties or who plan to rent out part of their home, the question is whether rental income can be counted toward their mortgage qualification. The good news is that in many cases, rental income can help, but there are specific rules and documentation requirements you will need to meet. Understanding How Lenders View Rental IncomeLenders want to ensure that any rental income you list is reliable and can be used to…

21 Aug 2025

By Tawnya King

How to Avoid Mortgage Burnout

Mortgage Tips

Buying a home is one of the most exciting milestones in life, but it can also be one of the most exhausting. From house hunting and comparing loan options to managing the financial paperwork and deadlines, the process can become overwhelming. Mortgage burnout happens when the stress and demands of the home buying journey begin to wear you down, making it harder to stay focused and positive. The good news is there are ways to protect yourself from burnout and keep the process manageable. Set Clear Expectations From the StartA big source of mortgage burnout is uncertainty. Understanding the timeline,…

20 Aug 2025

By Tawnya King

How to Qualify for a Mortgage While Carrying Credit Card Debt

Home Buyer Tips

Many potential homebuyers worry that carrying credit card debt will prevent them from qualifying for a mortgage. While it is true that lenders carefully evaluate your financial profile, having credit card balances does not automatically disqualify you. By understanding how lenders view debt, taking strategic steps to improve your application, and choosing the right mortgage program, you can still achieve your goal of homeownership. Understand Your Debt-to-Income Ratio (DTI)One of the most important factors lenders review is your debt-to-income ratio. This is the percentage of your gross monthly income that goes toward debt payments, including your future mortgage. A lower…

19 Aug 2025

By Tawnya King

The Mortgage Options That Make It Possible to Buy a Fixer-Upper

Mortgage Tips

Buying a fixer-upper can be an exciting way to get into a desirable neighborhood at a lower price point, while also creating a home that reflects your style and needs. However, financing a property that needs significant repairs can be challenging if you are only looking at traditional mortgage products. The good news is there are several mortgage options designed specifically for buyers who are ready to take on a renovation project. Understanding these options can help you choose the right path to turn a home with potential into your dream property. FHA 203(k) Rehabilitation LoanThe FHA 203(k) loan is…

18 Aug 2025

By Tawnya King

What’s Ahead For Mortgage Rates This Week – August 18th, 2025

Financial Reports

This will be the first release of the CPI and PPI report data wherein the data collected and used to determine the current inflation has been reduced. The Producer Price Index has shown quite clearly that there has been the biggest whole price jump in the last 3 years, showing that the administration's policies on tariffs are having an impact. The CPI has shown a similar increase in inflation, but still within expectations in lieu of the current tariff policies. There is still data to be collected, with some speculation that the Federal Reserve may implement rate cuts in the…

15 Aug 2025

By Tawnya King

The Pros and Cons of Mortgage Assumptions

Mortgage Tips

When purchasing a home, buyers typically assume a new mortgage loan. However, in some situations, a buyer may opt to assume the seller's existing mortgage. Known as a mortgage assumption, this process allows the buyer to take over the terms and payments of the seller's current loan. While mortgage assumptions can offer benefits, they also come with certain drawbacks. Understanding the pros and cons of mortgage assumptions can help you determine whether this option is right for you. What is a Mortgage Assumption?A mortgage assumption occurs when a buyer takes over the seller's existing mortgage, including the remaining balance, interest…

14 Aug 2025

By Tawnya King

The Impact of Bankruptcy on Mortgage Eligibility

Mortgage Tips

Going through bankruptcy can be a challenging and stressful process. However, it s important to understand how bankruptcy may affect your ability to secure a mortgage in the future. Bankruptcy, whether Chapter 7 or Chapter 13, can significantly impact your credit score and financial history, both of which are critical factors when applying for a mortgage. Despite this, it's possible to obtain a mortgage after bankruptcy, though the path may be a bit more complicated. Chapter 7 Bankruptcy and Mortgage EligibilityChapter 7 bankruptcy, also known as liquidation bankruptcy, involves the discharge of most unsecured debts. This means that individuals who…