I’m one of the few mortgage lenders in the country that can do loans for people with credit scores under 620! If your score is between 620 and 580 you would be looking at a 3.5% down payment. If your score is between 579 and 500 you would have a 10% down payment – max…
I’m one of the few mortgage lenders in the country that can do loans for people with credit scores under 620! If your score is between 620 and 580 you would be looking at a 3.5% down payment. If your score is between 579 and 500 you would have a 10% down payment – max…
Good Morning! Have you or someone you know been turned down for a mortgage because they didn’t have enough trade lines? Trade lines are active credit accounts (credit cards or installment loans usually) that show up on your credit report. Solution: As long as you have at least a 620 credit score, and I get…
Good Morning! It’s about to be tax season again. I wanted to make you aware of certain deductions on your tax return that can hurt you when it comes time to get a loan. The deductions you take on Schedule A for “unreimbursed job expenses” will come out of your adjusted gross income as a…
Good Morning! I’ve written about this topic before – and I think it deserves mentioning again. You would be amazed how many people (including realtors) that don’t know this is a way to solve this common problem when you buy a house. Problem: You are in the process of buying a house that needs minor…
Good Morning!Here is something to consider if you were thinking about refinancing from a 30 year mortgage to a 15 year mortgage… It takes 19 years and 4 months to pay your principle down by half on a 30 year amortization. Recommended action… If you can handle a slightly higher mortgage payment it’s a smart…
Good Morning! I’ve written to you about this before, but I think it’s worth covering again. People ask me if it’s possible to get rid of FHA mortgage insurance. It is possible, and here is how to do it… On a 30 year FHA mortgage the annual mortgage insurance premium is canceled once the loan…
Good Morning!You can have a credit score as low as 620 and get a loan with just 15% down payment on investment property.It’s been several years since you could have a credit score this low and be able to purchase an investment property.If you are interested in purchasing an investment property, and want to see…
Good Morning! I wanted to give you a quick break down of how your credit score is calculated by the credit bureaus… 35% – Payment history The credit bureaus look at your payment history on all your accounts; the length of your positive credit history and how long you have gone without a negative item;…
Good Morning! When it comes to getting a mortgage the difference between a credit collection account and a judgment is significant. The biggest difference is that a collection account doesn’t have to be paid off as a condition of mortgage approval. …However, a court ordered judgment MUST be paid off before a mortgage can be…