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…
Good Morning! If you purchased your house on a Contract For Deed, or a Land Contract – we can treat this as a refinance loan? …It’s true! …The Contract For Deed doesn’t even need to be recorded. We just need 12 months cancelled checks to refinance a Contract For Deed, or a Land Contract. The…
Hello! In some circumstances your spouses credit matters – even thought they may not be on the loan with you. When it doesn’t matter… If you are applying for a conventional loan then we won’t run your spouses credit if they aren’t on the loan. When it does matter… If you are applying for a…
Hello! I wanted to let you know that I can now do VA loans with no credit score limitation! This means that there is no “minimum score” you must have to get a VA loan. There are two main requirements for me to get your VA loan approved… 1) I must get an Approve /…