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…
I wanted to drop you a quick note this morning. There is a change in the HARP loan program going into effect November 16th, 2013. For those of you who just missed a HARP refinance – there’s new hope! Previously HARP was only available to homeowners whose mortgages were sold and securitized on, or before,…
You have several options for Mortgage Insurance on conventional loans. Knowing some of these options could be the difference between a decline and approval in some cases. Currently there are four ways to pay mortgage insurance… 1) Standard borrower paid monthly. 2) Lender paid MI. 3) Split MI. 4) Financed MI. Discussing all of these…
Some of you don’t know this, but I do HARP refinance loans! In fact I’ve written a Special Report on HARP loans for you. The link for the report is at the bottom of this email. Here’s some of what’s in this report… 1) Which borrowers may be eligible for an enhanced HARP? 2) What…