If you are trying to buy a house – but your spouse has no credit scores you have a problem. The problem is that you can’t use your spouse’s income for your loan, because they won’t be allowed to be on the loan. …but, not if you use me as your loan officer!…
If you have had a hard time getting a mortgage due to disputes on your credit accounts this email is for you! At the bottom of this post I’m going to freely give you the exact letter that I give clients to get disputes removed from their credit. …but before I do that I want…
Two things today… 1) Tip on how to buy a house that needs minor repairs. 2) Short cool video: 7 steps for how to keep a positive attitude. Problem: You are in the process of buying a house that needs minor repairs – but the seller refuses to do them – what do you do? …
Here’s a USDA tip for you… First, you should know that USDA family income caps. …In other words if you make too much money you won’t qualify for a USDA loan. Here is the link to check the income for your area… http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do Important: USDA goes by total household income! In other words if you…
I wanted to make sure you were aware of this loan program. It’s Fannie Mae’s 3% down loan. …and, it competes very well with FHA. Here are some of the important features of this product… 1) Owner-occupied primary residence only. 2) Minimum 720 FICO score. 3) 3% down payment must come from the borrower’s own…
Before you go house hunting make sure you have enough money available to get your loan approved and your house closed. …I know it sounds simple, but many people don’t realize the amount of funds they will need to get into a house. Here is a simple breakdown of your out of the out of…
Good Morning! Don’t look now, but FHA could be increasing it’s mortgage insurance premiums again. The Federal Housing Administration Fiscal Solvency Act of 2012 has overwhelmingly passed the House and will make its way to the Senate. Among other powers, the bill grants the FHA authority to raises its mortgage insurance premiums to as high as…
Good Morning! I wanted to remind you that I’m one of the few lenders in the country that has a no score FHA Streamline loan. Most lenders will not do an FHA streamline loan for you if your credit score is below 640. …Not me. In fact, my only real requirement is that you have…
One of the reasons people use FHA to buy a home is that it has a small 3.5% down payment. Conventional has a small down payment program too, and in some ways it’s better than FHA… 1) 3% down (97% financing). 2) Max loan amount is $417,000 (much higher than FHA). 3) Debt to income…
Good Morning! If you have a 30 year fixed FHA loan I would recommend you consider refinancing into a 15 year FHA mortgage. There are two reason’s I’m recommending this… 1) You can get a 15 year FHA fixed rate as low as 2.75% (face rate). 2) The mortgage insurance rates are lower for 15…