If you’re rate shopping for a mortgage – here are some guidelines for you to keep in mind… 1) Get a Loan Estimate (LE). There’s always a relationship between fees / points / and rate. …You won’t know what that relationship is unless you look at a LE. (A low rate is great, but if…
I wanted to give you a few simple ways to improve your credit scores… 1) Did you know a single credit card late payment can ding your score by as much as 60 points? a) Helpful strategy – set your payments up on autopay. 2) The quickest way to increase your credit scores are to…
Part of the fun of being in the mortgage business is that we get to help people. Buying or refinancing houses, we help people, and we create relationships with our clients along the way that we cherish. Many of them use us again and again. Here is what just some of our clients have to…
If you want to purchase or refinance a house, but you have a hard time proving traditional income, here are some options for you… Alternative Documentation loans are loans that allow you to use alternative documentation to prove your income. That is, other than the traditional Tax Returns, or W-2’s and Pay stubs. Option 1:…
I want to give you a possible solution to a problem I see every day. Disputed accounts. Usually when I see someone with alot of disputed credit accounts its because a borrower has hired a company to try to “improve” their credit scores. Often they are surprised to learn when they apply for a mortgage…
If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that. This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house. In fact, we do these types of cash out loans up to…
If you have a conventional loan, and your loan to value ratio is over 80% – you will be paying monthly mortgage insurance to the lender. No one likes paying monthly mortgage insurance. It’s extra money added to your payment every month, and it doesn’t help pay down the balance of the loan. If you…
One of the most important things you will have to do when you apply for a loan is to show that you have the money for the down payment. This is called “sourcing down payment funds”. For instance, the down payment on an FHA loan is 3.5%. You can have this money in your checking…
If you are looking for a home in the outer suburbs or in a rural area make sure your realtor knows about this great USDA 100% financing program. -Up to 100% of the Appraised Value – Total LTV of 102% – -No Down Payment Required -No Cash Reserve Requirement. No cash contribution requirement -Unlimited seller…
Would you like to buy a nice home in the country or an outlying suburb with no money down? Here’s a program that might work for you… It’s called USDA, and here are some details on this program… -Up to 100% of the Appraised Value – Total LTV of 102% – -Difference of sales price…