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Let’s skip the mortgage jargon for a minute and go back to the simple. These are the things that the lender wants before they approve your mortgage application.

1. Are you responsible? - credit report
2. Down payment? - your bank accounts
3. Where did you get the money?- your bank statements
4. How long has the money been there or did you just borrowed it? - 2 month bank statements
5. The value of the home?- appraisal
6. How much are you paying? Purchase agreement
7. Can you afford the payments? - debt to income ratio
8. Does the home have a clean title? - title company
9. Is there protection in the event of fire or storms? Home insurance
10. Will your job or income change in the near future? - employment verification

These are the 10 things that comprises a mortgage application. See how simple the process can be. thanks for reading.

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I’ve sent the past few weeks learning about internet marketing and I have to tell you it has been a lot of work. I have read thousands of articles from useless junk to very informative pieces. I’ve learn many things in the last couple of weeks and still have much more to learn.

The real estate and mortgage niche, I’ve learned is a very tough niche. There are tens of thousand of sites, numerous forums, and blogs all devoted to it. All the keywords cost quite a bit for pay per click marketing, but these huge corporations with unlimited budgets are paying Google a ton of money to be rank higher. Then comes your 1 man shop or your small town mortgage broker’s natural ranked site with good content and a strong following.

No where in real life can you see this, when the Home Depot rolls into a town, many of the small shops selling gardening supplies and the likes that have been around for many decades, pack up and leaves. Well, most are forced to because of no business. But not online, on the internet you type in “Las Vegas Mortgage” and there you will see the big banks right next to Mr.I-am-am-one-man-show-mortgage.com.

So maybe the internet is where the common man or common woman makes their final stand against corporate America. It is here that we can express what we want, offer to customers what we have, and it is here will we can still treat each other like human beings instead of stats, charts, and quarterly reports.

History of Mortgages
A lot of people know what a Home Mortgage is because quite a few of them have gotten a Home Financing before But, do you know how the mortgage itself came about? Here is some basic history on the mortgage and where it came from:

In the beginning, a Mortgage was just a conveyance of land for a cost. The purchaser paid the seller a set rate, with no APR, and the seller would sign over the land to the buyer. Certain things were set that had to be completed before the land would be the property of the buyer, similar to today, but it was in the belief that the property would make money to pay back the seller. So, a Home Loan was written due to this fact, and the Home Financing remain in effect regardless if the property made money or not.

But agreement had a lot of disadvantages for the purchaser because the seller of the property, or the Mortgage lender who was holding the deed to the land, had absolute control over it and could do anything they wanted, which included selling it, not allowing payment, refusing payoff, and other issues which caused headaches for the purchaser, who had no legal rights at all. As time passed, and blatant abuse of the mortgage system, the courts began to protect the buyer’s claims to the land so that they had a strong footing to stand on when it came to owning their property. Eventually, they were allowed to demand the deed be free and clear upon the payoff of the property. There were still steps taken to ensure that the deed holder still had the ability to keep their interest safe and make sure that their money was paid.

In America, some states have created their own version of the Mortgage Loan , which is why they are referred to as “lien states”. In England and Wales, the Law of Property Act of 1925 created a close parallel to the U.S.’s stance on mortgages. In 1934, Home Financing began to be widely used again in the U.S., and the Federal Housing Administration(FHA) helped to lower the down payments on homes to make it easier for buyers to purchase a home. During that time, around 40% of population in the United Sates owned real estate. Currently, that number is closer to 70%, due to the lower interest rates.

Although Home Loan today have became many different forms, they are simply the same essential contract that they were in the beginning. Now, there are many more safeguards to help protect the buyer, seller, and lender. There are also many different methods to lock in a low interest rate, you just need to talk to your Home Financing lender about what the interest rates are now and what kinds of loans they offer to keep those interest rates low throughout the life of your loan.

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