We have Non QM Jumbo loans up to 90% LTV. Loan amounts on this product go up to four million dollars. Need at least a 660 credit score. Acceptable means of proving income: Tax Returns W-2’s Bank Statement Deposits 1099 only P&L So, if you need a high loan to value Jumbo loan this might…
I have borrowers ask me every day how much they need to put down to purchase a home. Here are your minimum down payment options on the loan products currently available in the marketplace. Loan Programs… VA loan: No down payment necessary. No monthly MI. This is the best loan going if you can qualify…
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…
I wanted to take a minute and feature the USDA loan program. 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…
I want to show you how to roll repairs into a purchase price. I’ve touched on this subject from time to time. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do? This situation happens a lot, especially on bank owned homes.…
It’s true that mortgage rates are higher than they were a year ago. However, the real estate market has also changed over the past year. Consider this trend for buying a house a year ago vs today… 1 Year Ago… Listing price: $450,000 Sales price: $500,000 10% Down 4.5% Rate…
FHA gift questions come up often. I wanted to give you the rules on FHA gift giving. Here ya go… Acceptable gift donors for FHA loans… 1) Borrower’s relatives. 2) Borrower’s employer or labor union. 3) A close friend with a clearly defined and documented interest in the borrower. 4) A charitable organization. 5) A…
Hello! We are a full service mortgage lender. This means we provide a broad spectrum of loan options to help you get what you want. We have the lowest rates on Conventional, Jumbo, and Government loan products, but we also have other products to help you if you don’t “fit” into the box of a…
Hello! I have many people apply for mortgages that have recently changed jobs. Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage… The underwriter will want to see your first paycheck at the new job at a minimum, and…
Hello! Thanksgiving is next week. Thought I would get a head start on the Thanksgiving talk… Here’s five things you may not have known about thanksgiving: 1) Historians have no record of turkey being eaten at the first Thanksgiving. 2) Benjamin Franklin wanted the turkey as the national bird. 3) Snoopy has made…