Good Morning! I get this question about closing costs a lot… …When is it best to roll closing costs into the loan (on a refi)? Keep in mind there are three ways to handle closing costs on a refinance loan… 1) The borrower can pay them out of his pocket at closing. 2) The…
Good Morning!. I like to take time every now and then to watch a Simple Truths movie. Here’s a short video I recommend… Stress Is A Choice. Enjoy. Have a good day today! Brett To see if you qualify for a mortgage right now – CLICK HERE and fill out this…
Good Morning! If you have been told you don’t qualify for a loan now… Keep your chin up! It doesn’t mean you will never qualify for a loan.The key to you getting a loan is simple – and it’s free! You need a PLAN! Here’s what you need to do, and I can help you…
Good Morning!.. The Department of Housing and Urban Development is again talking about reducing the seller contribution on buyers closing costs from 6% to 3% on FHA loans.Many home buyers prefer to use the FHA program primarily because of the larger seller contribution (currently 6%). If this policy goes into effect it would make it…
Good Morning! If you have been following my posts you have probably learned that you can get a gift from a relative for your down payment on an FHA loan. Many don’t realize this, but you can also use a gift for a conventional loan down payment! The guidelines have changed on this in…
Good Morning! There are allot of people with challenged credit that would like to purchase a home. …perhaps your one of them. I created a page on my web site with some simple simple facts on how you can go about getting a loan with a low credit score… Click here to see the page.…
Good Morning! If you are planning on using a gift as the down payment on an FHA mortgage – here’s a tip for you… The underwriter will very likely ask for a recent bank statement or verification of deposit from the gift giver to show that they had enough money in the bank to…
Good Morning! I get asked this question allot by borrowers…“My spouse doesn’t have very good credit, but can I use her income on my loan application?” Answer: “No.” If we ad the spouses income, then we have to take his/her credit too. In fact, they would become an equal borrower on the loan. If you…
Good Morning! I originally posted about this subject 3 years ago, but it’s an important message and I think it bears repeating… My job as a loan officer allows me to have a unique perspective into people’s lives. I can see how much money people make, and how much money they have in the…
Good Morning! How to get a loan with less than 2 years of self employment income… I see this come up alot and I wanted to clarify self employment qualification. The traditional guideline for seasoning of self employment income is 2 years of filed tax returns. These 2 years will then be averaged to…