GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

June is Homeownership Month: Celebrating the Benefits of Owning a Home

June is Homeownership Month: Celebrating the Benefits of Owning a Home

  National Homeownership comes around every year in June. This annual celebration shines a spotlight on the significance of owning a home and the countless benefits it brings to individuals, families, and communities.  By becoming a homeowner, people get a step closer to the American dream.  Let's explore the origins of Homeownership Month, delve into the advantages of homeownership, and showcase some compelling statistics that highlight its positive impact. The Origins of Homeownership Month National Homeownership Month started as a week-long celebration of homeownership during the Clinton administration in 1995. It was not until 2002, that...

READ MORE
The Alternative Documentation Mortgage Program

The Alternative Documentation Mortgage Program

  Greenway Mortgage is proud to introduce our Alternative Documentation Program which offers flexible qualifying for non-traditional borrowers. About This Program For many homebuyers, traditional income or credit documentation can be a significant challenge. The Alt-Doc Program enables borrowers to qualify using alternative methods such as asset depletion and/or bank statements. This program is ideal for self-employed borrowers who do not meet traditional documentation requirements but can qualify using flexible alternatives* Advantages of The Alternative Documentation Program:  Bank statement - 1st page only Loan amounts up to $4...

READ MORE
MarketMinute | How did last week's rates impact mortgage apps?

MarketMinute | How did last week's rates impact mortgage apps?

Minutes from last month's Fed meeting show officials were divided on the topic of pausing policy rate hikes at the June meeting. Concerns about the U.S. defaulting on debt payments dominate headlines. A default could be devastating for rates. Unemployment claims were revised lower for a 2 nd  week after fraud was detected. A strong labor market could support a Fed rate increase. Pending home sales remained steady in April, after dropping in March. Sales were down 20% from last year due to the...

READ MORE
The One Mistake You Need To Avoid When Reporting Your Income

The One Mistake You Need To Avoid When Reporting Your Income

  There’s an important rule of thumb about income when it comes to applying for a mortgage. The numbers you report to Uncle Sam are the numbers lenders will use when making a decision about mortgage qualification. Many borrowers make the mistake of confusing actual income with reported income. Think of actual income as gross income from full-time, part-time or self-employment, or some combination of the three. This is the total number before you write off any expenses at tax time. For example, suppose your full-time salary is $70,000 and you make another $20,000 from your side job. Your actual income is $90,000. But that’s not the number we use when...

READ MORE
MarketMinute | Demand Still Outweighs Supply

MarketMinute | Demand Still Outweighs Supply

Retail sales increased in April for the first positive reading since January. They still fell short of expectations, as consumers struggled with inflation. Unemployment claims fell by the most since 2021 after fraudulent claims in at least one state boosted the previous week’s numbers. Total consumer debt hit a fresh new high in the 1st quarter of 2023, at just over $17 trillion. Debt increased in all categories. New mortgage originations, including refinances, totaled just $323.5 billion for the...

READ MORE
Showing results 86 - 90 of 641