Real quick tip for you on Bonus Income… Here are three things you need to be aware of for us to use your bonus income to get a mortgage… 1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income for 2 years. 2) The employer…
I wanted to point out a unique loan that we have that may benefit you or someone you know… Believe it or not many people buy homes with cash. …No loans. However, sometimes after doing so they realize the need that cash for something else. One way to pull the cash out is a Texas…
I get this question sometimes: “Can I sell a car to come up with a down payment?” The answer is “yes”. …It’s possible to sell a personal asset (car, boat, jewelry, baseball card collection, etc.) to raise the money for your down payment. Here is what you would need to provide the mortgage company if…
If you owe more than your home is worth, and your in a loan you would like to refinance – this may be an option for you. HARP 2 Here are the main criteria for the HARP program… 1) The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae. 2) The mortgage…
When you buy a house there are three sets of costs you will incur (other than your down payment)… 1) Closing costs. These are mortgage company fees, title fees, appraisal, survey, recording fees, etc. Typically these fees will add up to around 1% to 2% of a loan. 2) Prepaid taxes. For a purchase loan…
I’m going to show you an easy way to buy the home of your dreams with no money out of pocket on a little used low interest government insured loan. …and, it’s not hard to qualify! This Post is about our SELECT RD loan. It’s a government sponsored loan that many people just don’t know…
A common question I get is what minimum credit scores are needed for various loan programs. I going to give you a quick guide for minimum credit scores on each program. The mortgage industry is a very dynamic industry. …the rules change almost daily. …so please check in with me when you get serious about…
Have you ever wondered how credit affects your mortgage payment? Most people know your credit affects the rate you get on your loan. …and, your credit can even effect the amount you pay for Home Owners Insurance. However, there is another part of your payment that your credit also effects. …Your mortgage insurance payment on…
If you or someone you know is at least 62 years old you have some amazing home buying options… Texas finally caught up with the rest of the country and approved home purchases using Reverse Mortgages. Advantages: Now you can buy a home without having to deplete your entire retirement savings and without having to…
Occasionally a loan officer will get a loan that they just don’t know what to do with. Not sure how to proceed. …or, even if it’s possible to proceed. …but, they don’t want to tell you because you referred the borrower to them, and they don’t want to give you the impression that they don’t…