Ho, Ho, Ho! I hope you are able to spend time with your family this Christmas season! Few things… The Fed is scheduled to meet this Wednesday. With a new chairwoman this meeting should be interesting. …and, could be a market mover. I’ll keep my eye’s out for ‘ya. If you own your home free…
Have you been told that your credit is good enough to get a loan, but your debt to income ratio is too high? In other words you either need more income, or less bills. Here is one possible solution to that. FHA loans allow you to include a non-occupying co-borrower on the loan. …This would…
Ice Armageddon in Dallas this weekend. I managed to survive. …Back at work today. For those of you who were in it – I hope you and your family made it through safely. Mortgage backed securities have taken a beating over the last 2 weeks resulting in higher mortgage rates. Last weeks jobs report…
Did you know you can build a home from scratch using an FHA loan? It’s true! However, you should know that you can only use it for manufactured and modular homes. Our One Time Close program provides construction financing, Lot Purchase and a Permanent loan, all wrapped in one. Here are some of the benefits…
This time of year property taxes are due on your property. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had the money, but had to…
I hope this is a great Thanksgiving week for you! Quick Thanksgiving Trivia: Did you know that only male Turkey’s gobble? It’s true! Female Turkeys just make a clucking noise. (There’s an extra joke here that I’ll stay away from) Automated underwriting tip… Getting mortgage loans approved in Fannie Mae’s automated underwriting system can sometimes…
Be careful about what your Realtor puts in the earnest money contract. Keep in mind the buyers mortgage underwriter will scrutinize the contract. …and, sometimes what’s written in the contract can get you in trouble with the underwriter. Here’s a true example… On a purchase contract I saw recently the Realtor made the mistake of…
If you are a renter how do you pay your rent? Would you like to purchase a home someday? If so, please keep this in mind… How you pay your rent is IMPORTANT! When you apply for a mortgage the underwriter will most likely want you to be able to prove you paid the rent.…
Did you know we can do Non Owner Occupied Investor loans up to 85% loan to value ratio now? …Sure can! We can also finance up to 10 financed properties for Investors! Did you know you can use a non occupying co-borrower with FHA loans? This means you can use a mom, dad, brother, sister,…
Note: This only applies to FHA mortgages that pre-date June 3, 2013, MIP goes away when the following conditions are met: 30-year loan term : Annual MIP is automatically canceled once the loan reaches 78% loan-to-value and annual MIP has been paid for at least 60 months. 15-year loan term : Annual MIP is automatically…