1) USDA has increased their income limits recently. If you would like to see if your family income is under the USDA threshold for your area you can either contact my office and we’ll run it for you.
…or, you can run it yourself here.
2) Loan Tip: Many people are unaware of this, but NSF charges on your bank statement can derail your loan.
NSF charges are a potential deal killer for the underwriter.
If you have insufficient funds charges in your bank statement it signals to the underwriter that you are having a hard time managing your money.
One possible solution is to ask your lender (hopefully me!) to replace your statements with a verification of deposit.
That’s it for today!
Have a good day! …and thanks for reading.
Brett
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……