Richard Ruble's Blog
The Power of Getting Pre-Approved
Navigating the homebuying process can be both fulfilling and overwhelming. Getting pre-approved for a mortgage is one key factor that can significantly ease stress when starting the journey. But what exactly is a mortgage pre-approval, and why is it considered a crucial step? Unlike pre-qualification, which provides a rough estimate, pre-approval involves thoroughly examining your […]
Cash-Out Refinance vs. HELOC: Understanding Your Options
If you’re a homeowner looking to access extra cash, you may have come across two common options: a cash-out refinance or a home equity line of credit (HELOC). Both let you use your home’s equity, but they work differently. Knowing the differences can help you decide which one suits your needs. What is a Cash-Out […]
Breaking Barriers to Homeownership: Bank Statement Loans for Self-Employed Borrowers
For self-employed professionals, entrepreneurs, and freelancers, achieving homeownership can sometimes feel out of reach. Traditional mortgage lenders often require tax returns and W-2s, which may not accurately reflect your income due to business deductions and write-offs. If this sounds familiar, VanDyk Mortgage has a solution for you. What is a Bank Statement Loan? A Bank […]
Condo vs. Condotel Financing: What You Need to Know
As a loan officer at VanDyk Mortgage, I often help homebuyers navigate the unique financing requirements for different types of properties. If you’re considering purchasing a condo or a condotel, it’s important to understand the key differences in financing options. While both offer great benefits, their loan requirements vary significantly due to how lenders assess […]